Charles Schwab Investment Management Inc. Grows Position in Hovnanian Enterprises, Inc. (NYSE:HOV)

Charles Schwab Investment Management Inc. grew its holdings in Hovnanian Enterprises, Inc. (NYSE:HOV - Free Report) by 92.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,967 shares of the construction company's stock after purchasing an additional 23,990 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.83% of Hovnanian Enterprises worth $10,212,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of HOV. Meeder Asset Management Inc. lifted its holdings in shares of Hovnanian Enterprises by 2.9% in the second quarter. Meeder Asset Management Inc. now owns 2,223 shares of the construction company's stock worth $315,000 after buying an additional 63 shares in the last quarter. Koss Olinger Consulting LLC lifted its stake in Hovnanian Enterprises by 3.5% in the 3rd quarter. Koss Olinger Consulting LLC now owns 3,404 shares of the construction company's stock worth $696,000 after purchasing an additional 115 shares in the last quarter. Range Financial Group LLC boosted its holdings in Hovnanian Enterprises by 2.6% in the 2nd quarter. Range Financial Group LLC now owns 4,595 shares of the construction company's stock valued at $652,000 after purchasing an additional 117 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Hovnanian Enterprises by 8.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,928 shares of the construction company's stock valued at $274,000 after purchasing an additional 145 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Hovnanian Enterprises during the 3rd quarter valued at $33,000. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Hovnanian Enterprises

In other news, CEO Ara K. Hovnanian sold 13,552 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $215.14, for a total transaction of $2,915,577.28. Following the transaction, the chief executive officer now directly owns 47,279 shares in the company, valued at approximately $10,171,604.06. This represents a 22.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edward A. Kangas sold 1,500 shares of the firm's stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $188.86, for a total value of $283,290.00. Following the transaction, the director now directly owns 13,290 shares in the company, valued at approximately $2,509,949.40. This represents a 10.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,289 shares of company stock valued at $5,158,796 in the last quarter. Insiders own 17.67% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com lowered Hovnanian Enterprises from a "buy" rating to a "hold" rating in a research note on Friday, August 23rd.

Hovnanian Enterprises Price Performance

HOV traded down $1.87 on Tuesday, reaching $167.87. The company had a trading volume of 55,028 shares, compared to its average volume of 79,585. Hovnanian Enterprises, Inc. has a 52-week low of $125.63 and a 52-week high of $240.34. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 5.15 and a beta of 2.62. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 1.45. The business has a 50 day simple moving average of $185.12 and a 200 day simple moving average of $181.00.

About Hovnanian Enterprises

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.