Hovnanian Enterprises, Inc. (NYSE:HOV) Shares Acquired by Foundry Partners LLC

Foundry Partners LLC raised its position in Hovnanian Enterprises, Inc. (NYSE:HOV - Free Report) by 24.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 65,623 shares of the construction company's stock after buying an additional 12,814 shares during the period. Foundry Partners LLC owned about 1.08% of Hovnanian Enterprises worth $8,782,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in shares of Hovnanian Enterprises by 92.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 49,967 shares of the construction company's stock valued at $10,212,000 after buying an additional 23,990 shares during the period. Cerity Partners LLC raised its position in Hovnanian Enterprises by 7.8% in the third quarter. Cerity Partners LLC now owns 2,624 shares of the construction company's stock valued at $536,000 after purchasing an additional 190 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Hovnanian Enterprises by 38.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,661 shares of the construction company's stock valued at $544,000 after purchasing an additional 733 shares during the last quarter. FMR LLC increased its position in shares of Hovnanian Enterprises by 20.6% during the 3rd quarter. FMR LLC now owns 346 shares of the construction company's stock worth $71,000 after purchasing an additional 59 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new stake in Hovnanian Enterprises in the 3rd quarter valued at about $254,000. Institutional investors and hedge funds own 65.40% of the company's stock.

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Hovnanian Enterprises Stock Down 4.0 %

Shares of NYSE HOV traded down $3.55 during midday trading on Wednesday, hitting $84.79. 47,988 shares of the company's stock were exchanged, compared to its average volume of 80,246. The firm's fifty day simple moving average is $113.25 and its 200-day simple moving average is $148.55. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.52 and a quick ratio of 0.34. The company has a market cap of $502.37 million, a PE ratio of 2.64 and a beta of 2.43. Hovnanian Enterprises, Inc. has a twelve month low of $82.82 and a twelve month high of $240.34.

Hovnanian Enterprises (NYSE:HOV - Get Free Report) last posted its earnings results on Thursday, February 27th. The construction company reported $3.58 EPS 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 for the quarter, compared to analysts' expectations of $705.80 million.

Wall Street Analyst Weigh In

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

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.