Victory Capital Management Inc. Acquires 785 Shares of Hovnanian Enterprises, Inc. (NYSE:HOV)

Victory Capital Management Inc. raised its holdings in shares of Hovnanian Enterprises, Inc. (NYSE:HOV) by 23.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,199 shares of the construction company’s stock after purchasing an additional 785 shares during the quarter. Victory Capital Management Inc. owned 0.07% of Hovnanian Enterprises worth $562,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC grew its stake in Hovnanian Enterprises by 20.6% in the third quarter. FMR LLC now owns 346 shares of the construction company’s stock valued at $71,000 after purchasing an additional 59 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in Hovnanian Enterprises in the third quarter valued at approximately $205,000. Paloma Partners Management Co acquired a new position in shares of Hovnanian Enterprises during the 3rd quarter worth approximately $254,000. Exchange Traded Concepts LLC raised its stake in shares of Hovnanian Enterprises by 51.3% during the 4th quarter. Exchange Traded Concepts LLC now owns 2,135 shares of the construction company’s stock worth $286,000 after buying an additional 724 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Hovnanian Enterprises by 7.2% during the fourth quarter. Principal Financial Group Inc. now owns 2,383 shares of the construction company’s stock worth $319,000 after purchasing an additional 161 shares in the last quarter. Hedge funds and other institutional investors own 65.40% of the company’s stock.

Hovnanian Enterprises Stock Performance

Shares of HOV stock opened at $106.14 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.34 and a current ratio of 1.52. The stock has a fifty day moving average price of $122.22 and a 200 day moving average price of $158.18. The stock has a market cap of $628.87 million, a PE ratio of 3.31 and a beta of 2.85. Hovnanian Enterprises, Inc. has a 1 year low of $95.27 and a 1 year high of $240.34.

Hovnanian Enterprises (NYSE:HOV) last released its 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. The firm had revenue of $673.62 million during the quarter, compared to analyst estimates of $705.80 million. Hovnanian Enterprises had a return on equity of 43.47% and a net margin of 8.05%.

Wall Street Analyst Weigh In

HOV has been the subject of several analyst reports. Zelman & Associates restated an “underperform” rating on shares of Hovnanian Enterprises in a report on Wednesday, February 12th. StockNews.com lowered Hovnanian Enterprises from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Wedbush reiterated a “neutral” rating and issued a $155.00 price objective on shares of Hovnanian Enterprises in a report on Monday, December 16th.

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.