Canada Pension Plan Investment Board Invests $883,000 in Hovnanian Enterprises, Inc. (NYSE:HOV)

Canada Pension Plan Investment Board acquired a new position in shares of Hovnanian Enterprises, Inc. (NYSE:HOV - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 6,600 shares of the construction company's stock, valued at approximately $883,000. Canada Pension Plan Investment Board owned about 0.11% of Hovnanian Enterprises as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of HOV. Geode Capital Management LLC boosted its stake in shares of Hovnanian Enterprises by 0.3% during the third quarter. Geode Capital Management LLC now owns 111,942 shares of the construction company's stock valued at $22,882,000 after purchasing an additional 322 shares in the last quarter. Foundry Partners LLC raised its position in Hovnanian Enterprises by 24.3% during the 4th quarter. Foundry Partners LLC now owns 65,623 shares of the construction company's stock worth $8,782,000 after purchasing an additional 12,814 shares during the last quarter. Empowered Funds LLC lifted its holdings in Hovnanian Enterprises by 5.0% during the 4th quarter. Empowered Funds LLC now owns 30,667 shares of the construction company's stock worth $4,104,000 after buying an additional 1,461 shares during the period. JPMorgan Chase & Co. grew its position in shares of Hovnanian Enterprises by 98.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 29,472 shares of the construction company's stock valued at $6,023,000 after buying an additional 14,624 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Hovnanian Enterprises by 4.7% in the third quarter. Franklin Resources Inc. now owns 14,912 shares of the construction company's stock valued at $2,926,000 after buying an additional 669 shares during the period. Institutional investors and hedge funds own 65.40% of the company's stock.

Hovnanian Enterprises Trading Down 1.8 %

Hovnanian Enterprises stock traded down $1.73 during trading hours on Friday, reaching $96.99. 41,717 shares of the company's stock were exchanged, compared to its average volume of 81,224. The firm has a market capitalization of $574.67 million, a PE ratio of 3.02 and a beta of 2.43. The company has a quick ratio of 0.34, a current ratio of 1.52 and a debt-to-equity ratio of 0.14. The firm's 50 day simple moving average is $102.77 and its 200 day simple moving average is $138.08. Hovnanian Enterprises, Inc. has a twelve month low of $81.15 and a twelve month high of $240.34.

Hovnanian Enterprises (NYSE:HOV - Get Free Report) last issued its earnings results on Thursday, February 27th. The construction company reported $3.58 earnings per share for the quarter, topping analysts' consensus estimates of $2.71 by $0.87. Hovnanian Enterprises had a return on equity of 43.47% and a net margin of 8.05%. The business had revenue of $673.62 million during the quarter, compared to the consensus estimate of $705.80 million.

Wall Street Analyst Weigh In

HOV has been the topic of a number of recent analyst reports. StockNews.com lowered Hovnanian Enterprises from a "hold" rating to a "sell" rating in a research note on Tuesday, March 18th. Zelman & Associates restated an "underperform" rating on shares of Hovnanian Enterprises in a research report on Wednesday, February 12th.

Hovnanian Enterprises Company Profile

Hovnanian Enterprises, Inc, through its subsidiaries, designs, constructs, markets, and sells residential homes in the United States. It offers single-family detached homes, attached townhomes and condominiums, urban infill, and active lifestyle homes with amenities, such as clubhouses, swimming pools, tennis courts, tot lots, and open areas.