Principal Financial Group Inc. Sells 1,076 Shares of Hovnanian Enterprises, Inc. (NYSE:HOV)

Principal Financial Group Inc. lessened its holdings in Hovnanian Enterprises, Inc. (NYSE:HOV) by 32.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,222 shares of the construction company’s stock after selling 1,076 shares during the quarter. Principal Financial Group Inc.’s holdings in Hovnanian Enterprises were worth $454,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of HOV. Bank of New York Mellon Corp grew its stake in Hovnanian Enterprises by 2.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 35,054 shares of the construction company’s stock worth $4,975,000 after acquiring an additional 993 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Hovnanian Enterprises by 3.8% in the second quarter. Rhumbline Advisers now owns 9,033 shares of the construction company’s stock valued at $1,282,000 after purchasing an additional 330 shares during the period. Victory Capital Management Inc. grew its stake in Hovnanian Enterprises by 88.1% in the second quarter. Victory Capital Management Inc. now owns 14,334 shares of the construction company’s stock worth $2,034,000 after purchasing an additional 6,715 shares in the last quarter. Koss Olinger Consulting LLC purchased a new position in Hovnanian Enterprises during the 2nd quarter worth $467,000. Finally, American Century Companies Inc. raised its position in Hovnanian Enterprises by 16.1% during the 2nd quarter. American Century Companies Inc. now owns 133,933 shares of the construction company’s stock valued at $19,008,000 after purchasing an additional 18,622 shares in the last quarter. Hedge funds and other institutional investors own 65.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wedbush reissued a “neutral” rating and set a $155.00 target price on shares of Hovnanian Enterprises in a research report on Monday, December 16th.

Hovnanian Enterprises Trading Up 1.3 %

NYSE HOV opened at $129.76 on Monday. The firm has a market cap of $785.70 million, a PE ratio of 4.04 and a beta of 2.70. Hovnanian Enterprises, Inc. has a 52 week low of $125.38 and a 52 week high of $240.34. The company has a quick ratio of 0.27, a current ratio of 1.45 and a debt-to-equity ratio of 0.20. The company has a 50 day moving average price of $165.41 and a 200 day moving average price of $180.07.

Insiders Place Their Bets

In other Hovnanian Enterprises news, Director Edward A. Kangas sold 1,500 shares of the company’s stock in a transaction 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 sale, the director now directly owns 13,290 shares of the company’s stock, valued at approximately $2,509,949.40. This represents a 10.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ara K. Hovnanian sold 644 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $194.99, for a total value of $125,573.56. Following the sale, the chief executive officer now directly owns 45,635 shares in the company, valued at $8,898,368.65. This represents a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.67% of the stock is owned by insiders.

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.