UBS Group AG Sells 16,934 Shares of Hovnanian Enterprises Inc $HOV

UBS Group AG lowered its holdings in Hovnanian Enterprises Inc (NYSE:HOV) by 21.7% in the fourth quarter, Holdings Channel reports. The firm owned 61,136 shares of the construction company’s stock after selling 16,934 shares during the quarter. UBS Group AG’s holdings in Hovnanian Enterprises were worth $5,963,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Teacher Retirement System of Texas grew its position in Hovnanian Enterprises by 292.2% in the third quarter. Teacher Retirement System of Texas now owns 59,080 shares of the construction company’s stock valued at $7,591,000 after purchasing an additional 44,017 shares in the last quarter. Two Sigma Investments LP grew its position in Hovnanian Enterprises by 46.2% in the third quarter. Two Sigma Investments LP now owns 47,574 shares of the construction company’s stock valued at $6,113,000 after purchasing an additional 15,041 shares in the last quarter. Millennium Management LLC grew its position in Hovnanian Enterprises by 20.9% in the third quarter. Millennium Management LLC now owns 43,543 shares of the construction company’s stock valued at $5,595,000 after purchasing an additional 7,525 shares in the last quarter. BNP Paribas Financial Markets grew its position in Hovnanian Enterprises by 65.4% in the third quarter. BNP Paribas Financial Markets now owns 29,683 shares of the construction company’s stock valued at $3,814,000 after purchasing an additional 11,741 shares in the last quarter. Finally, Bank of America Corp DE grew its position in Hovnanian Enterprises by 32.2% in the second quarter. Bank of America Corp DE now owns 21,225 shares of the construction company’s stock valued at $2,219,000 after purchasing an additional 5,164 shares in the last quarter. Institutional investors own 65.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HOV. Weiss Ratings downgraded shares of Hovnanian Enterprises from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 8th. Wall Street Zen upgraded shares of Hovnanian Enterprises from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Citizens Jmp began coverage on shares of Hovnanian Enterprises in a report on Thursday, April 9th. They set a “market underperform” rating and a $74.00 target price on the stock. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $97.00.

Hovnanian Enterprises Trading Up 3.6%

HOV stock opened at $97.54 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.50 and a quick ratio of 0.43. The company has a fifty day moving average price of $109.02 and a two-hundred day moving average price of $113.85. Hovnanian Enterprises Inc has a one year low of $85.69 and a one year high of $162.05. The stock has a market cap of $579.39 million, a price-to-earnings ratio of 14.94 and a beta of 1.87.

Hovnanian Enterprises (NYSE:HOV) last released its quarterly earnings data on Wednesday, February 25th. The construction company reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of ($0.98) by $3.60. The firm had revenue of $631.95 million during the quarter, compared to analysts’ expectations of $628.50 million. Hovnanian Enterprises had a net margin of 1.92% and a return on equity of 14.14%.

About Hovnanian Enterprises

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.