Teacher Retirement System of Texas Grows Holdings in Hovnanian Enterprises Inc $HOV

Teacher Retirement System of Texas raised its position in Hovnanian Enterprises Inc (NYSE:HOV) by 292.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 59,080 shares of the construction company’s stock after buying an additional 44,017 shares during the period. Teacher Retirement System of Texas owned 1.00% of Hovnanian Enterprises worth $7,591,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. State of Alaska Department of Revenue bought a new position in shares of Hovnanian Enterprises in the third quarter valued at approximately $35,000. Osaic Holdings Inc. boosted its position in Hovnanian Enterprises by 72.1% in the second quarter. Osaic Holdings Inc. now owns 432 shares of the construction company’s stock worth $45,000 after purchasing an additional 181 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in Hovnanian Enterprises by 614.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 557 shares of the construction company’s stock valued at $58,000 after purchasing an additional 479 shares during the period. GAMMA Investing LLC increased its position in shares of Hovnanian Enterprises by 553.9% during the 2nd quarter. GAMMA Investing LLC now owns 994 shares of the construction company’s stock valued at $104,000 after purchasing an additional 842 shares during the last quarter. Finally, AlphaQuest LLC increased its position in shares of Hovnanian Enterprises by 10,727.3% during the 2nd quarter. AlphaQuest LLC now owns 1,191 shares of the construction company’s stock valued at $125,000 after purchasing an additional 1,180 shares during the last quarter. Institutional investors own 65.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Hovnanian Enterprises from a “hold” rating to a “sell” rating in a report on Saturday, December 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Hovnanian Enterprises in a research note on Thursday. Finally, Zacks Research raised shares of Hovnanian Enterprises from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Hovnanian Enterprises has a consensus rating of “Reduce” and a consensus target price of $120.00.

Hovnanian Enterprises Trading Down 5.2%

Shares of HOV opened at $116.07 on Monday. Hovnanian Enterprises Inc has a fifty-two week low of $81.15 and a fifty-two week high of $162.05. The business has a 50-day moving average of $111.91 and a 200 day moving average of $124.75. The firm has a market cap of $690.59 million, a P/E ratio of 15.50 and a beta of 2.20. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.40 and a current ratio of 1.58.

Hovnanian Enterprises (NYSE:HOV) last issued its earnings results on Thursday, December 4th. The construction company reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($1.14). Hovnanian Enterprises had a return on equity of 15.33% and a net margin of 2.14%.The business had revenue of $817.90 million for the quarter, compared to the consensus estimate of $814.50 million. During the same quarter in the prior year, the business earned $13.84 EPS. Hovnanian Enterprises’s revenue for the quarter was down 16.5% compared to the same quarter last year.

Hovnanian Enterprises Profile

Hovnanian Enterprises, Inc is a publicly traded homebuilding company primarily engaged in the acquisition, development and construction of residential properties. Headquartered in Red Bank, New Jersey, the company operates through a network of regional homebuilding divisions that design and deliver a range of housing solutions, including single-family detached homes, townhomes and condominiums. Hovnanian combines land development, architectural design and construction services with in-house mortgage and insurance offerings to provide a comprehensive homebuying experience.

The company markets its communities under several branded product lines tailored to different buyer segments and price points.