Teacher Retirement System of Texas Sells 17,100 Shares of Hovnanian Enterprises, Inc. (NYSE:HOV)

Teacher Retirement System of Texas cut its holdings in Hovnanian Enterprises, Inc. (NYSE:HOV - Free Report) by 48.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,954 shares of the construction company's stock after selling 17,100 shares during the period. Teacher Retirement System of Texas owned 0.30% of Hovnanian Enterprises worth $2,403,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Intech Investment Management LLC raised its holdings in Hovnanian Enterprises by 30.5% in the 4th quarter. Intech Investment Management LLC now owns 2,204 shares of the construction company's stock worth $295,000 after purchasing an additional 515 shares during the period. Vestcor Inc increased its position 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 buying an additional 720 shares in the last quarter. Swiss National Bank raised its stake in shares of Hovnanian Enterprises by 5.3% in the fourth quarter. Swiss National Bank now owns 9,900 shares of the construction company's stock worth $1,325,000 after buying an additional 500 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Hovnanian Enterprises by 0.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,860 shares of the construction company's stock valued at $1,186,000 after buying an additional 81 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Hovnanian Enterprises by 23.0% during the 4th quarter. Victory Capital Management Inc. now owns 4,199 shares of the construction company's stock valued at $562,000 after acquiring an additional 785 shares during the period. Hedge funds and other institutional investors own 65.40% of the company's stock.

Remove Ads

Hovnanian Enterprises Price Performance

NYSE HOV traded down $2.81 during trading hours on Friday, reaching $104.32. The company's stock had a trading volume of 65,015 shares, compared to its average volume of 79,006. Hovnanian Enterprises, Inc. has a 1 year low of $95.27 and a 1 year high of $240.34. The company has a quick ratio of 0.34, a current ratio of 1.52 and a debt-to-equity ratio of 0.14. 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 firm's 50-day moving average price is $119.55 and its 200-day moving average price is $154.72.

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

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. StockNews.com cut shares of Hovnanian Enterprises from a "hold" rating to a "sell" rating in a research note on Tuesday, March 18th. Zelman & Associates restated an "underperform" rating on shares of Hovnanian Enterprises in a research report on Wednesday, February 12th. Finally, Wedbush reaffirmed a "neutral" rating and issued a $155.00 target price on shares of Hovnanian Enterprises in a report on Monday, December 16th.

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.