Foundry Partners LLC Acquires 12,814 Shares of Hovnanian Enterprises, Inc. (NYSE:HOV)

Foundry Partners LLC lifted its holdings in Hovnanian Enterprises, Inc. (NYSE:HOV) by 24.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 65,623 shares of the construction company’s stock after acquiring an additional 12,814 shares during the period. Foundry Partners LLC owned 1.08% of Hovnanian Enterprises worth $8,782,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HOV. Trexquant Investment LP purchased a new stake in shares of Hovnanian Enterprises in the fourth quarter valued at $286,000. KLP Kapitalforvaltning AS purchased a new stake in Hovnanian Enterprises in the 4th quarter worth about $120,000. Quantbot Technologies LP bought a new stake in Hovnanian Enterprises in the fourth quarter worth about $25,000. Intech Investment Management LLC boosted its position in shares of Hovnanian Enterprises by 30.5% during the fourth quarter. Intech Investment Management LLC now owns 2,204 shares of the construction company’s stock valued at $295,000 after buying an additional 515 shares during the period. Finally, Vestcor Inc raised its holdings in shares of Hovnanian Enterprises by 16.8% in the fourth quarter. Vestcor Inc now owns 5,009 shares of the construction company’s stock worth $670,000 after buying an additional 720 shares during the period. Hedge funds and other institutional investors own 65.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on HOV shares. Wedbush reiterated a “neutral” rating and issued a $155.00 target price on shares of Hovnanian Enterprises in a research note on Monday, December 16th. Zelman & Associates reissued an “underperform” rating on shares of Hovnanian Enterprises in a research report on Wednesday, February 12th. Finally, StockNews.com cut shares of Hovnanian Enterprises from a “hold” rating to a “sell” rating in a report on Tuesday, March 18th.

Hovnanian Enterprises Trading Down 11.3 %

HOV opened at $94.48 on Friday. The company has a current ratio of 1.52, a quick ratio of 0.34 and a debt-to-equity ratio of 0.14. The firm has a market cap of $559.79 million, a price-to-earnings ratio of 2.94 and a beta of 2.85. Hovnanian Enterprises, Inc. has a 12 month low of $93.91 and a 12 month high of $240.34. The stock has a fifty day moving average price of $116.66 and a 200-day moving average price of $152.56.

Hovnanian Enterprises (NYSE:HOV) last released its quarterly earnings results on Thursday, February 27th. The construction company reported $3.58 EPS for the quarter, beating the consensus estimate of $2.71 by $0.87. Hovnanian Enterprises had a net margin of 8.05% and a return on equity of 43.47%. The business had revenue of $673.62 million during the quarter, compared to analyst estimates of $705.80 million.

Hovnanian Enterprises Company 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.