Hovnanian Enterprises, Inc. (NYSE:HOV) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. grew its position in Hovnanian Enterprises, Inc. (NYSE:HOV) by 7.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,383 shares of the construction company’s stock after purchasing an additional 161 shares during the period. Principal Financial Group Inc.’s holdings in Hovnanian Enterprises were worth $319,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Creative Planning acquired a new position in Hovnanian Enterprises during the 3rd quarter worth approximately $202,000. Olympiad Research LP acquired a new position in Hovnanian Enterprises during the 3rd quarter worth approximately $225,000. GSA Capital Partners LLP lifted its position in Hovnanian Enterprises by 15.6% during the 3rd quarter. GSA Capital Partners LLP now owns 6,627 shares of the construction company’s stock worth $1,354,000 after acquiring an additional 895 shares in the last quarter. Metis Global Partners LLC acquired a new position in Hovnanian Enterprises during the 3rd quarter worth approximately $248,000. Finally, Empowered Funds LLC lifted its position in Hovnanian Enterprises by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 29,206 shares of the construction company’s stock worth $5,969,000 after acquiring an additional 1,474 shares in the last quarter. 65.40% of the stock is owned by institutional investors and hedge funds.

Hovnanian Enterprises Price Performance

HOV stock opened at $108.45 on Friday. The company has a quick ratio of 0.34, a current ratio of 1.52 and a debt-to-equity ratio of 0.14. Hovnanian Enterprises, Inc. has a 52-week low of $95.26 and a 52-week high of $240.34. The stock’s 50 day moving average is $126.83 and its two-hundred day moving average is $166.55. The company has a market capitalization of $656.67 million, a PE ratio of 3.38 and a beta of 2.85.

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

Analyst Upgrades and Downgrades

Several research firms recently commented on HOV. Wedbush reissued a “neutral” rating and set a $155.00 price target on shares of Hovnanian Enterprises in a research report on Monday, December 16th. Zelman & Associates restated an “underperform” rating on shares of Hovnanian Enterprises in a report on Wednesday, February 12th. Finally, StockNews.com downgraded Hovnanian Enterprises from a “hold” rating to a “sell” rating in a report on Friday.

About Hovnanian Enterprises

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.