Royce & Associates LP Sells 5,000 Shares of Hovnanian Enterprises, Inc. (NYSE:HOV)

Royce & Associates LP decreased its stake in shares of Hovnanian Enterprises, Inc. (NYSE:HOV) by 17.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 24,200 shares of the construction company’s stock after selling 5,000 shares during the period. Royce & Associates LP owned 0.40% of Hovnanian Enterprises worth $4,946,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in HOV. Bank of Montreal Can raised its position in shares of Hovnanian Enterprises by 72.3% in the second quarter. Bank of Montreal Can now owns 45,363 shares of the construction company’s stock valued at $6,438,000 after purchasing an additional 19,031 shares during the period. American Century Companies Inc. boosted its holdings in Hovnanian Enterprises by 16.1% during the second quarter. American Century Companies Inc. now owns 133,933 shares of the construction company’s stock valued at $19,008,000 after acquiring an additional 18,622 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Hovnanian Enterprises by 425,175.0% in the second quarter. Nisa Investment Advisors LLC now owns 17,011 shares of the construction company’s stock valued at $2,414,000 after purchasing an additional 17,007 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Hovnanian Enterprises by 6.1% in the first quarter. Vanguard Group Inc. now owns 280,435 shares of the construction company’s stock worth $44,011,000 after purchasing an additional 16,012 shares during the period. Finally, SG Americas Securities LLC lifted its position in shares of Hovnanian Enterprises by 2,143.3% during the 2nd quarter. SG Americas Securities LLC now owns 14,402 shares of the construction company’s stock worth $2,044,000 after purchasing an additional 13,760 shares during the last quarter. 65.40% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Hovnanian Enterprises news, Director Vincent Pagano, Jr. sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $201.11, for a total transaction of $603,330.00. Following the completion of the transaction, the director now owns 24,552 shares in the company, valued at $4,937,652.72. This trade represents a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Edward A. Kangas sold 4,000 shares of the company’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 sale, the director now owns 14,790 shares in the company, valued at approximately $3,434,385.90. This represents a 21.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 58,057 shares of company stock worth $12,824,040 over the last 90 days. Corporate insiders own 17.67% of the company’s stock.

Hovnanian Enterprises Stock Performance

NYSE HOV opened at $165.91 on Tuesday. The company’s fifty day moving average is $192.79 and its two-hundred day moving average is $178.96. Hovnanian Enterprises, Inc. has a 52-week low of $86.61 and a 52-week high of $240.34. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.45 and a quick ratio of 0.27. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of 5.13 and a beta of 2.60.

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

Analysts Set New Price Targets

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

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.