Hovnanian Enterprises, Inc. (NYSE:HOV) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its position in Hovnanian Enterprises, Inc. (NYSE:HOV - Free Report) by 21.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,092 shares of the construction company's stock after selling 6,380 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.38% of Hovnanian Enterprises worth $3,090,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. KLP Kapitalforvaltning AS purchased a new stake in Hovnanian Enterprises during the fourth quarter valued at approximately $120,000. Quantbot Technologies LP purchased a new position in Hovnanian Enterprises during the 4th quarter worth $25,000. Intech Investment Management LLC increased its position in Hovnanian Enterprises by 30.5% during the 4th quarter. Intech Investment Management LLC now owns 2,204 shares of the construction company's stock valued at $295,000 after buying an additional 515 shares in the last quarter. Vestcor Inc boosted its holdings in Hovnanian Enterprises by 16.8% in the fourth quarter. Vestcor Inc now owns 5,009 shares of the construction company's stock worth $670,000 after acquiring an additional 720 shares in the last quarter. Finally, Swiss National Bank grew its stake in shares of Hovnanian Enterprises by 5.3% during the fourth quarter. Swiss National Bank now owns 9,900 shares of the construction company's stock worth $1,325,000 after acquiring an additional 500 shares during the last quarter. 65.40% of the stock is owned by hedge funds and other institutional investors.

Hovnanian Enterprises Stock Performance

Shares of HOV stock traded down $1.72 on Friday, hitting $97.00. The company had a trading volume of 25,451 shares, compared to its average volume of 80,809. The firm has a market cap of $574.73 million, a P/E ratio of 3.02 and a beta of 2.43. Hovnanian Enterprises, Inc. has a twelve month low of $81.15 and a twelve month high of $240.34. The company has a 50-day moving average price of $103.43 and a 200-day moving average price of $139.48. The company has a quick ratio of 0.34, a current ratio of 1.52 and a debt-to-equity ratio of 0.14.

Hovnanian Enterprises (NYSE:HOV - Get Free Report) last posted its earnings results on Thursday, February 27th. The construction company reported $3.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.87. The firm had revenue of $673.62 million during 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%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Zelman & Associates reiterated an "underperform" rating on shares of Hovnanian Enterprises in a research note on Wednesday, February 12th. StockNews.com downgraded Hovnanian Enterprises from a "hold" rating to a "sell" rating in a research report on Tuesday, March 18th.

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.