Hovnanian Enterprises, Inc. (NYSE:HOV) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. cut its stake in shares of Hovnanian Enterprises, Inc. (NYSE:HOV - Free Report) by 6.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 311,608 shares of the construction company's stock after selling 19,843 shares during the quarter. Vanguard Group Inc. owned approximately 5.14% of Hovnanian Enterprises worth $41,699,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Principal Financial Group Inc. increased its position in Hovnanian Enterprises by 7.2% in the fourth quarter. Principal Financial Group Inc. now owns 2,383 shares of the construction company's stock worth $319,000 after buying an additional 161 shares during the period. JPMorgan Chase & Co. grew its position in shares of Hovnanian Enterprises by 98.5% during the third quarter. JPMorgan Chase & Co. now owns 29,472 shares of the construction company's stock worth $6,023,000 after acquiring an additional 14,624 shares during the last quarter. Barclays PLC increased its holdings in shares of Hovnanian Enterprises by 352.6% in the 3rd quarter. Barclays PLC now owns 8,274 shares of the construction company's stock worth $1,691,000 after acquiring an additional 6,446 shares during the period. Range Financial Group LLC acquired a new stake in shares of Hovnanian Enterprises in the 4th quarter worth about $764,000. Finally, Geode Capital Management LLC boosted its stake in Hovnanian Enterprises by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 111,942 shares of the construction company's stock valued at $22,882,000 after purchasing an additional 322 shares during the period. 65.40% of the stock is currently owned by institutional investors and hedge funds.

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Hovnanian Enterprises Price Performance

HOV traded down $4.41 on Wednesday, reaching $91.28. The company had a trading volume of 27,580 shares, compared to its average volume of 81,171. Hovnanian Enterprises, Inc. has a one year low of $81.15 and a one year high of $240.34. The company has a market capitalization of $540.83 million, a P/E ratio of 2.84 and a beta of 2.43. The company has a fifty day moving average of $108.56 and a 200-day moving average of $144.15. The company has a current ratio of 1.52, a quick ratio of 0.34 and a debt-to-equity ratio of 0.14.

Hovnanian Enterprises (NYSE:HOV - Get Free Report) last announced 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. Hovnanian Enterprises had a return on equity of 43.47% and a net margin of 8.05%. The firm had revenue of $673.62 million for the quarter, compared to analysts' expectations of $705.80 million.

Analysts Set New Price Targets

Several equities research analysts have commented on HOV shares. StockNews.com lowered 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.

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.