Pacer Advisors Inc. Increases Stock Position in Hovnanian Enterprises Inc $HOV

Pacer Advisors Inc. boosted its position in shares of Hovnanian Enterprises Inc (NYSE:HOV) by 21.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 42,063 shares of the construction company’s stock after buying an additional 7,353 shares during the quarter. Pacer Advisors Inc. owned approximately 0.71% of Hovnanian Enterprises worth $4,103,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HOV. Invesco Ltd. raised its position in shares of Hovnanian Enterprises by 8.6% in the fourth quarter. Invesco Ltd. now owns 17,242 shares of the construction company’s stock worth $1,682,000 after acquiring an additional 1,368 shares during the period. Empowered Funds LLC increased its stake in shares of Hovnanian Enterprises by 18.6% in the 4th quarter. Empowered Funds LLC now owns 49,912 shares of the construction company’s stock valued at $4,868,000 after purchasing an additional 7,829 shares in the last quarter. XTX Topco Ltd raised its holdings in Hovnanian Enterprises by 18.7% in the 4th quarter. XTX Topco Ltd now owns 3,663 shares of the construction company’s stock worth $357,000 after purchasing an additional 576 shares during the period. Quadrature Capital Ltd acquired a new position in Hovnanian Enterprises in the 4th quarter worth about $1,141,000. Finally, Man Group plc purchased a new position in Hovnanian Enterprises during the fourth quarter worth approximately $331,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.

Hovnanian Enterprises Stock Down 5.1%

Shares of HOV opened at $125.03 on Tuesday. The stock has a 50 day moving average price of $111.97 and a 200 day moving average price of $112.77. Hovnanian Enterprises Inc has a one year low of $91.52 and a one year high of $162.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.40 and a current ratio of 1.50. The stock has a market capitalization of $732.67 million, a price-to-earnings ratio of 34.35 and a beta of 1.84.

Hovnanian Enterprises (NYSE:HOV) last announced its quarterly earnings data on Thursday, May 21st. The construction company reported ($0.46) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.04) by $1.58. Hovnanian Enterprises had a return on equity of 11.23% and a net margin of 1.25%.The company had revenue of $667.65 million for the quarter, compared to analyst estimates of $626.40 million.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Weiss Ratings cut Hovnanian Enterprises from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 8th. Wall Street Zen raised shares of Hovnanian Enterprises from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Citizens Jmp initiated coverage on shares of Hovnanian Enterprises in a report on Thursday, April 9th. They set a “market underperform” rating and a $74.00 price objective on the stock. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $97.00.

Hovnanian Enterprises Company 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.