Wells Fargo & Company MN lifted its position in shares of Hovnanian Enterprises (NYSE:HOV) by 186.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 543,106 shares of the construction company’s stock after purchasing an additional 353,587 shares during the period. Wells Fargo & Company MN owned 0.37% of Hovnanian Enterprises worth $1,819,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in HOV. Tricadia Capital Management LLC acquired a new position in shares of Hovnanian Enterprises during the 4th quarter worth about $1,351,000. Acadian Asset Management LLC acquired a new position in shares of Hovnanian Enterprises during the 4th quarter worth about $1,234,000. Cornerstone Capital Management Holdings LLC. increased its stake in shares of Hovnanian Enterprises by 37.8% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 1,179,532 shares of the construction company’s stock worth $2,275,000 after purchasing an additional 323,400 shares during the last quarter. Macquarie Group Ltd. acquired a new position in shares of Hovnanian Enterprises during the 3rd quarter worth about $323,000. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Hovnanian Enterprises by 26.8% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 573,274 shares of the construction company’s stock worth $1,921,000 after purchasing an additional 121,064 shares during the last quarter. Institutional investors own 41.64% of the company’s stock.
Several research analysts have recently weighed in on HOV shares. ValuEngine upgraded shares of Hovnanian Enterprises from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. MKM Partners lowered shares of Hovnanian Enterprises from a “neutral” rating to a “sell” rating and set a $1.75 price objective on the stock. in a research note on Saturday, December 30th.
Hovnanian Enterprises (NYSE:HOV) last released its quarterly earnings data on Thursday, March 8th. The construction company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.13). The firm had revenue of $417.17 million for the quarter, compared to analyst estimates of $461.60 million. Hovnanian Enterprises had a negative return on equity of 1.29% and a negative net margin of 15.66%. The business’s revenue was down 24.4% on a year-over-year basis.
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Hovnanian Enterprises Profile
Hovnanian Enterprises, Inc designs, constructs, markets, and sells residential homes in the United States. It constructs single-family detached homes, attached townhomes and condominiums, urban infill, and active lifestyle homes. The company markets its build homes for first-time buyers, first-time and second-time move-up buyers, luxury buyers, active lifestyle buyers, and empty nesters in 130 communities in 24 markets.
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