Hovnanian Enterprises Inc (HOV) Holdings Increased by Wells Fargo & Company MN

Wells Fargo & Company MN raised its holdings in Hovnanian Enterprises Inc (NYSE:HOV) by 13.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 143,343 shares of the construction company’s stock after acquiring an additional 16,805 shares during the period. Wells Fargo & Company MN owned approximately 0.11% of Hovnanian Enterprises worth $402,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Eqis Capital Management Inc. increased its position in shares of Hovnanian Enterprises by 2.6% during the 2nd quarter. Eqis Capital Management Inc. now owns 38,676 shares of the construction company’s stock valued at $108,000 after purchasing an additional 969 shares during the last quarter. Creative Planning increased its position in shares of Hovnanian Enterprises by 611.3% during the 2nd quarter. Creative Planning now owns 41,850 shares of the construction company’s stock valued at $117,000 after purchasing an additional 35,966 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Hovnanian Enterprises by 83.3% during the 1st quarter. UBS Asset Management Americas Inc. now owns 59,193 shares of the construction company’s stock valued at $134,000 after purchasing an additional 26,897 shares during the last quarter. American International Group Inc. increased its position in shares of Hovnanian Enterprises by 7.1% during the 1st quarter. American International Group Inc. now owns 75,060 shares of the construction company’s stock valued at $170,000 after purchasing an additional 4,972 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY increased its position in shares of Hovnanian Enterprises by 12.0% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 89,415 shares of the construction company’s stock valued at $203,000 after purchasing an additional 9,560 shares during the last quarter. 30.94% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have recently commented on the company. TheStreet lowered Hovnanian Enterprises from a “c-” rating to a “d” rating in a research report on Thursday, September 7th. BidaskClub lowered Hovnanian Enterprises from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. Finally, MKM Partners restated a “neutral” rating on shares of Hovnanian Enterprises in a research report on Tuesday, September 5th.

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Hovnanian Enterprises Inc (HOV) opened at $2.31 on Wednesday. The stock has a market capitalization of $340.94, a price-to-earnings ratio of 15.40 and a beta of 1.88. Hovnanian Enterprises Inc has a one year low of $1.66 and a one year high of $2.98. The company has a debt-to-equity ratio of -0.30, a quick ratio of 0.24 and a current ratio of 0.82.

Hovnanian Enterprises (NYSE:HOV) last announced its quarterly earnings data on Thursday, September 7th. The construction company reported ($2.28) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($2.27). The company had revenue of $592.00 million for the quarter, compared to analysts’ expectations of $584.50 million. Hovnanian Enterprises had a negative net margin of 12.69% and a negative return on equity of 7.10%. The company’s revenue for the quarter was down 17.4% compared to the same quarter last year.

Hovnanian Enterprises Profile

Hovnanian Enterprises, Inc is a builder of residential homes. The Company designs, constructs, markets and sells single-family detached homes, attached townhomes and condominiums, urban infill and active lifestyle homes in planned residential developments. The Company has two distinct operations: homebuilding and financial services.

Institutional Ownership by Quarter for Hovnanian Enterprises (NYSE:HOV)

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