Charles Schwab Investment Management Inc. Sells 4,345 Shares of Hovnanian Enterprises, Inc. (NYSE:HOV)

Charles Schwab Investment Management Inc. decreased its stake in shares of Hovnanian Enterprises, Inc. (NYSE:HOV - Free Report) by 8.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,622 shares of the construction company's stock after selling 4,345 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.75% of Hovnanian Enterprises worth $6,105,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Forager Capital Management LLC increased its stake in shares of Hovnanian Enterprises by 3.5% during the third quarter. Forager Capital Management LLC now owns 117,000 shares of the construction company's stock valued at $23,911,000 after acquiring an additional 4,000 shares during the period. Geode Capital Management LLC raised its stake in shares of Hovnanian Enterprises by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 111,942 shares of the construction company's stock worth $22,882,000 after buying an additional 322 shares in the last quarter. Philadelphia Financial Management of San Francisco LLC acquired a new stake in shares of Hovnanian Enterprises in the third quarter valued at $17,449,000. Brightline Capital Management LLC boosted its stake in Hovnanian Enterprises by 68.8% during the third quarter. Brightline Capital Management LLC now owns 81,000 shares of the construction company's stock valued at $16,554,000 after buying an additional 33,000 shares in the last quarter. Finally, Empowered Funds LLC grew its holdings in Hovnanian Enterprises by 5.0% during the fourth quarter. Empowered Funds LLC now owns 30,667 shares of the construction company's stock worth $4,104,000 after acquiring an additional 1,461 shares during the period. 65.40% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

HOV has been the subject of several research reports. StockNews.com lowered shares of Hovnanian Enterprises from a "hold" rating to a "sell" rating in a research report on Tuesday, March 18th. Wedbush restated a "neutral" rating and issued a $155.00 price target on shares of Hovnanian Enterprises in a research report on Monday, December 16th. Finally, Zelman & Associates reiterated an "underperform" rating on shares of Hovnanian Enterprises in a research report on Wednesday, February 12th.

Hovnanian Enterprises Stock Down 2.6 %

Shares of NYSE HOV traded down $2.81 during mid-day trading on Friday, reaching $104.32. The company had a trading volume of 65,015 shares, compared to its average volume of 79,157. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.34 and a current ratio of 1.52. The company has a market capitalization of $618.07 million, a price-to-earnings ratio of 3.25 and a beta of 2.85. The stock has a fifty day moving average of $120.24 and a two-hundred day moving average of $155.84. Hovnanian Enterprises, Inc. has a 12-month low of $95.27 and a 12-month high of $240.34.

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

Hovnanian Enterprises 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.