Truist Financial Corp Invests $352,000 in Hovnanian Enterprises, Inc. (NYSE:HOV)

Truist Financial Corp acquired a new stake in Hovnanian Enterprises, Inc. (NYSE:HOV - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,480 shares of the construction company's stock, valued at approximately $352,000.

Other large investors have also bought and sold shares of the company. Foundry Partners LLC bought a new position in shares of Hovnanian Enterprises in the 1st quarter valued at $4,259,000. Vanguard Group Inc. boosted its stake in shares of Hovnanian Enterprises by 6.1% during the first quarter. Vanguard Group Inc. now owns 280,435 shares of the construction company's stock valued at $44,011,000 after purchasing an additional 16,012 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Hovnanian Enterprises by 425,175.0% during the second quarter. Nisa Investment Advisors LLC now owns 17,011 shares of the construction company's stock worth $2,414,000 after purchasing an additional 17,007 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Hovnanian Enterprises by 88.1% in the second quarter. Victory Capital Management Inc. now owns 14,334 shares of the construction company's stock valued at $2,034,000 after buying an additional 6,715 shares during the period. Finally, Koss Olinger Consulting LLC bought a new position in Hovnanian Enterprises in the 2nd quarter valued at approximately $467,000. 65.40% of the stock is owned by institutional investors and hedge funds.

Hovnanian Enterprises Trading Up 3.1 %

Shares of NYSE HOV traded up $6.13 during trading on Friday, reaching $206.24. The company had a trading volume of 57,764 shares, compared to its average volume of 80,379. The stock has a market cap of $1.24 billion, a P/E ratio of 6.87 and a beta of 2.59. The company's fifty day moving average price is $204.20 and its 200-day moving average price is $173.92. The company has a quick ratio of 0.27, a current ratio of 1.45 and a debt-to-equity ratio of 0.20. Hovnanian Enterprises, Inc. has a 12 month low of $65.22 and a 12 month high of $240.34.

Hovnanian Enterprises (NYSE:HOV - Get Free Report) last announced its earnings results on Thursday, August 22nd. The construction company reported $9.75 earnings per share for the quarter. Hovnanian Enterprises had a net margin of 8.41% and a return on equity of 52.22%. The business had revenue of $722.70 million during the quarter. During the same period in the prior year, the business earned $7.38 EPS. As a group, research analysts expect that Hovnanian Enterprises, Inc. will post 30 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Edward A. Kangas sold 1,500 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $188.86, for a total transaction of $283,290.00. Following the transaction, the director now directly owns 13,290 shares of the company's stock, valued at $2,509,949.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Vincent Pagano, Jr. sold 3,000 shares of Hovnanian Enterprises stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $201.11, for a total value of $603,330.00. Following the completion of the sale, the director now owns 24,552 shares of the company's stock, valued at approximately $4,937,652.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Edward A. Kangas sold 1,500 shares of the business's stock in a transaction on Monday, October 14th. The shares were sold at an average price of $188.86, for a total transaction of $283,290.00. Following the sale, the director now owns 13,290 shares of the company's stock, valued at $2,509,949.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,057 shares of company stock worth $12,824,040. Corporate insiders own 17.67% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Hovnanian Enterprises from a "buy" rating to a "hold" rating in a research report on Friday, August 23rd.

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.