2,480 Shares in Hovnanian Enterprises, Inc. (NYSE:HOV) Purchased by Truist Financial Corp

Truist Financial Corp acquired a new stake in shares of Hovnanian Enterprises, Inc. (NYSE:HOV) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,480 shares of the construction company’s stock, valued at approximately $352,000.

A number of other institutional investors also recently added to or reduced their stakes in HOV. Innealta Capital LLC acquired a new stake in shares of Hovnanian Enterprises in the 2nd quarter valued at $37,000. CWM LLC boosted its position in Hovnanian Enterprises by 3,541.7% in the first quarter. CWM LLC now owns 437 shares of the construction company’s stock valued at $69,000 after buying an additional 425 shares in the last quarter. EntryPoint Capital LLC grew its stake in Hovnanian Enterprises by 309.9% during 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. International Assets Investment Management LLC acquired a new stake in shares of Hovnanian Enterprises during the second quarter worth approximately $156,000. Finally, Entropy Technologies LP bought a new position in shares of Hovnanian Enterprises in the first quarter valued at approximately $205,000. 65.40% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, Director Edward A. Kangas sold 4,000 shares of Hovnanian Enterprises stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $232.21, for a total value of $928,840.00. Following the completion of the sale, the director now directly owns 14,790 shares of the company’s stock, valued at approximately $3,434,385.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Ara K. Hovnanian sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $229.45, for a total transaction of $4,589,000.00. Following the completion of the sale, the chief executive officer now directly owns 12,890 shares of the company’s stock, valued at $2,957,610.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Edward A. Kangas sold 4,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $232.21, for a total transaction of $928,840.00. Following the completion of the transaction, the director now owns 14,790 shares in the company, valued at $3,434,385.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,057 shares of company stock valued at $12,824,040. 17.67% of the stock is currently owned by corporate insiders.

Hovnanian Enterprises Stock Performance

Hovnanian Enterprises stock opened at $206.24 on Friday. The stock has a 50-day simple moving average of $204.20 and a 200 day simple moving average of $173.76. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 6.87 and a beta of 2.59. The company has a quick ratio of 0.27, a current ratio of 1.45 and a debt-to-equity ratio of 0.20. Hovnanian Enterprises, Inc. has a 12-month low of $65.22 and a 12-month high of $240.34.

Hovnanian Enterprises (NYSE:HOV) last announced its earnings results on Thursday, August 22nd. The construction company reported $9.75 earnings per share for the quarter. Hovnanian Enterprises had a net margin of 8.41% and a return on equity of 52.22%. The company had revenue of $722.70 million during the quarter. During the same period in the prior year, the firm posted $7.38 earnings per share. On average, research analysts anticipate that Hovnanian Enterprises, Inc. will post 30 earnings per share 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.