Creative Planning Invests $202,000 in Hovnanian Enterprises, Inc. (NYSE:HOV)

Creative Planning bought a new position in Hovnanian Enterprises, Inc. (NYSE:HOV) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 989 shares of the construction company’s stock, valued at approximately $202,000.

Several other institutional investors and hedge funds have also modified their holdings of HOV. Vanguard Group Inc. raised its position in shares of Hovnanian Enterprises by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 280,435 shares of the construction company’s stock valued at $44,011,000 after acquiring an additional 16,012 shares during the last quarter. American Century Companies Inc. boosted its stake in Hovnanian Enterprises by 16.1% in the 2nd quarter. American Century Companies Inc. now owns 133,933 shares of the construction company’s stock worth $19,008,000 after purchasing an additional 18,622 shares during the period. AQR Capital Management LLC boosted its stake in Hovnanian Enterprises by 8.3% in the 2nd quarter. AQR Capital Management LLC now owns 67,180 shares of the construction company’s stock worth $9,534,000 after purchasing an additional 5,135 shares during the period. Bank of Montreal Can boosted its stake in Hovnanian Enterprises by 72.3% in the 2nd quarter. Bank of Montreal Can now owns 45,363 shares of the construction company’s stock worth $6,438,000 after purchasing an additional 19,031 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Hovnanian Enterprises by 2.9% during 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 buying an additional 993 shares during the last quarter. 65.40% of the stock is owned by institutional investors and hedge funds.

Hovnanian Enterprises Stock Performance

NYSE HOV opened at $182.82 on Tuesday. The company has a current ratio of 1.45, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 5.65 and a beta of 2.60. The firm’s 50 day simple moving average is $195.18 and its 200 day simple moving average is $178.31. Hovnanian Enterprises, Inc. has a 1 year low of $80.50 and a 1 year high of $240.34.

Hovnanian Enterprises (NYSE:HOV) last issued its earnings results on Thursday, August 22nd. The construction company reported $9.75 earnings per share for the quarter. The firm had revenue of $722.70 million for the quarter. Hovnanian Enterprises had a net margin of 8.41% and a return on equity of 52.22%. During the same quarter in the prior year, the business earned $7.38 EPS. As a group, research analysts expect that Hovnanian Enterprises, Inc. will post 30 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd.

Insider Buying and Selling

In related news, Director Edward A. Kangas sold 1,500 shares of Hovnanian Enterprises stock in a transaction on Monday, October 14th. The shares were sold at an average price of $188.86, for a total transaction of $283,290.00. Following the completion of the transaction, the director now owns 13,290 shares of the company’s stock, valued at $2,509,949.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Edward A. Kangas sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $232.21, for a total value of $928,840.00. Following the completion of the transaction, 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. Also, Director Edward A. Kangas sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $188.86, for a total transaction of $283,290.00. Following the completion of the transaction, the director now directly owns 13,290 shares of the company’s stock, valued at approximately $2,509,949.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 58,057 shares of company stock valued at $12,824,040 over the last quarter. Insiders own 17.67% of the company’s stock.

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.