Teacher Retirement System of Texas Trims Holdings in Hovnanian Enterprises, Inc. (NYSE:HOV)

Teacher Retirement System of Texas reduced its position in shares of Hovnanian Enterprises, Inc. (NYSE:HOV) by 48.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,954 shares of the construction company’s stock after selling 17,100 shares during the period. Teacher Retirement System of Texas’ holdings in Hovnanian Enterprises were worth $2,403,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of HOV. FMR LLC boosted its position in Hovnanian Enterprises by 20.6% during the third quarter. FMR LLC now owns 346 shares of the construction company’s stock worth $71,000 after acquiring an additional 59 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Hovnanian Enterprises during the third quarter worth $205,000. Paloma Partners Management Co purchased a new stake in shares of Hovnanian Enterprises in the third quarter valued at $254,000. Exchange Traded Concepts LLC increased its stake in Hovnanian Enterprises by 51.3% in the fourth quarter. Exchange Traded Concepts LLC now owns 2,135 shares of the construction company’s stock valued at $286,000 after purchasing an additional 724 shares during the last quarter. Finally, Intech Investment Management LLC lifted its position in Hovnanian Enterprises by 30.5% during the fourth quarter. Intech Investment Management LLC now owns 2,204 shares of the construction company’s stock worth $295,000 after buying an additional 515 shares during the period. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

Hovnanian Enterprises Stock Performance

NYSE HOV opened at $106.64 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.52 and a quick ratio of 0.34. Hovnanian Enterprises, Inc. has a 1-year low of $95.27 and a 1-year high of $240.34. The firm has a market capitalization of $631.84 million, a P/E ratio of 3.32 and a beta of 2.85. The business’s 50-day simple moving average is $120.92 and its 200-day simple moving average is $156.18.

Hovnanian Enterprises (NYSE:HOV) last released its quarterly earnings data on Thursday, February 27th. The construction company reported $3.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.87. Hovnanian Enterprises had a net margin of 8.05% and a return on equity of 43.47%. The company had revenue of $673.62 million during the quarter, compared to the consensus estimate of $705.80 million.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. StockNews.com downgraded shares of Hovnanian Enterprises from a “hold” rating to a “sell” rating in a research note on Tuesday, March 18th. Wedbush reaffirmed a “neutral” rating and set a $155.00 price target on shares of Hovnanian Enterprises in a research report on Monday, December 16th. Finally, Zelman & Associates reiterated an “underperform” rating on shares of Hovnanian Enterprises in a report on Wednesday, February 12th.

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.