Empowered Funds LLC Boosts Stock Position in Hovnanian Enterprises, Inc. (NYSE:HOV)

Empowered Funds LLC raised its position in shares of Hovnanian Enterprises, Inc. (NYSE:HOV) by 5.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,206 shares of the construction company’s stock after purchasing an additional 1,474 shares during the quarter. Empowered Funds LLC owned 0.48% of Hovnanian Enterprises worth $5,969,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new stake in Hovnanian Enterprises during the 3rd quarter valued at about $33,000. Innealta Capital LLC purchased a new stake in shares of Hovnanian Enterprises in the second quarter worth about $37,000. EntryPoint Capital LLC boosted its stake in shares of Hovnanian Enterprises by 309.9% in the first quarter. EntryPoint Capital LLC now owns 828 shares of the construction company’s stock worth $130,000 after buying an additional 626 shares during the last quarter. CWM LLC boosted its stake in shares of Hovnanian Enterprises by 89.6% in the third quarter. CWM LLC now owns 749 shares of the construction company’s stock worth $153,000 after buying an additional 354 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of Hovnanian Enterprises in the second quarter worth about $156,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.

Insider Buying and Selling at Hovnanian Enterprises

In other Hovnanian Enterprises news, CEO Ara K. Hovnanian sold 644 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $194.99, for a total transaction of $125,573.56. Following the completion of the transaction, the chief executive officer now owns 45,635 shares of the company’s stock, valued at $8,898,368.65. This represents a 1.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward A. Kangas sold 1,500 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $188.86, for a total value of $283,290.00. Following the transaction, the director now directly owns 13,290 shares of the company’s stock, valued at $2,509,949.40. The trade was a 10.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,057 shares of company stock valued at $12,824,040 over the last quarter. 17.67% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, StockNews.com downgraded Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd.

Hovnanian Enterprises Stock Performance

NYSE HOV opened at $167.94 on Friday. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 5.19 and a beta of 2.60. Hovnanian Enterprises, Inc. has a twelve month low of $86.61 and a twelve month high of $240.34. The company has a current ratio of 1.45, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. The stock has a 50-day moving average of $193.25 and a 200 day moving average of $178.66.

Hovnanian Enterprises (NYSE:HOV) last released its quarterly earnings results on Thursday, August 22nd. The construction company reported $9.75 earnings per share for the quarter. The company had revenue of $722.70 million during the quarter. Hovnanian Enterprises had a return on equity of 52.22% and a net margin of 8.41%. During the same period in the previous year, the company posted $7.38 EPS. Sell-side analysts anticipate that Hovnanian Enterprises, Inc. will post 30 EPS for the current fiscal year.

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.