Pacer Advisors Inc. Sells 5,383 Shares of Hovnanian Enterprises Inc $HOV

Pacer Advisors Inc. trimmed its stake in Hovnanian Enterprises Inc (NYSE:HOV) by 12.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,680 shares of the construction company’s stock after selling 5,383 shares during the period. Pacer Advisors Inc.’s holdings in Hovnanian Enterprises were worth $4,068,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. State Street Corp increased its position in shares of Hovnanian Enterprises by 8.6% during the fourth quarter. State Street Corp now owns 228,613 shares of the construction company’s stock valued at $22,299,000 after buying an additional 18,086 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Hovnanian Enterprises by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 175,186 shares of the construction company’s stock worth $17,089,000 after buying an additional 3,514 shares during the period. GW&K Investment Management LLC lifted its holdings in Hovnanian Enterprises by 7.6% in the fourth quarter. GW&K Investment Management LLC now owns 121,488 shares of the construction company’s stock worth $11,850,000 after buying an additional 8,571 shares during the period. Geode Capital Management LLC boosted its position in Hovnanian Enterprises by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 111,600 shares of the construction company’s stock valued at $10,888,000 after acquiring an additional 1,057 shares in the last quarter. Finally, Towle & Co. boosted its position in Hovnanian Enterprises by 51.2% during the 4th quarter. Towle & Co. now owns 99,402 shares of the construction company’s stock valued at $9,696,000 after acquiring an additional 33,681 shares in the last quarter. Institutional investors own 65.40% of the company’s stock.

Insider Transactions at Hovnanian Enterprises

In other news, Director J Larry Sorsby sold 1,032 shares of Hovnanian Enterprises stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $142.57, for a total transaction of $147,132.24. Following the completion of the transaction, the director directly owned 187,416 shares in the company, valued at approximately $26,719,899.12. This trade represents a 0.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ara K. Hovnanian sold 12,880 shares of Hovnanian Enterprises stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $125.78, for a total transaction of $1,620,046.40. Additional details regarding this sale are available in the official SEC disclosure. 22.67% of the stock is currently owned by corporate insiders.

Hovnanian Enterprises Stock Performance

Shares of HOV stock opened at $134.20 on Friday. The company’s fifty day moving average price is $127.56 and its 200-day moving average price is $118.84. The stock has a market cap of $786.41 million, a PE ratio of 36.87 and a beta of 1.83. The company has a current ratio of 1.50, a quick ratio of 0.40 and a debt-to-equity ratio of 0.05. Hovnanian Enterprises Inc has a 12 month low of $91.52 and a 12 month high of $162.05.

Hovnanian Enterprises (NYSE:HOV) last issued its quarterly earnings results on Thursday, May 21st. The construction company reported ($0.46) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.04) by $1.58. Hovnanian Enterprises had a net margin of 1.25% and a return on equity of 11.23%. The company had revenue of $667.65 million during the quarter, compared to analyst estimates of $626.40 million.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Citizens Jmp initiated coverage on Hovnanian Enterprises in a report on Thursday, April 9th. They set a “market underperform” rating and a $74.00 target price on the stock. Weiss Ratings upgraded Hovnanian Enterprises from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 16th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $97.00.

Hovnanian Enterprises Company Profile

Hovnanian Enterprises, Inc is a publicly traded homebuilding company primarily engaged in the acquisition, development and construction of residential properties. Headquartered in Red Bank, New Jersey, the company operates through a network of regional homebuilding divisions that design and deliver a range of housing solutions, including single-family detached homes, townhomes and condominiums. Hovnanian combines land development, architectural design and construction services with in-house mortgage and insurance offerings to provide a comprehensive homebuying experience.

The company markets its communities under several branded product lines tailored to different buyer segments and price points.