Charles Schwab Investment Management Inc. Grows Stock Holdings in Hovnanian Enterprises, Inc. (NYSE:HOV)

Charles Schwab Investment Management Inc. boosted its position in shares of Hovnanian Enterprises, Inc. (NYSE:HOV) by 92.4% in the third quarter, Holdings Channel reports. The fund owned 49,967 shares of the construction company’s stock after purchasing an additional 23,990 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Hovnanian Enterprises were worth $10,212,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. lifted its stake in shares of Hovnanian Enterprises by 16.1% in the 2nd quarter. American Century Companies Inc. now owns 133,933 shares of the construction company’s stock worth $19,008,000 after purchasing an additional 18,622 shares during the period. AQR Capital Management LLC raised its stake in Hovnanian Enterprises by 8.3% during the 2nd quarter. AQR Capital Management LLC now owns 67,180 shares of the construction company’s stock worth $9,534,000 after acquiring an additional 5,135 shares during the period. Foundry Partners LLC lifted its holdings in Hovnanian Enterprises by 53.3% during the third quarter. Foundry Partners LLC now owns 52,809 shares of the construction company’s stock valued at $10,793,000 after purchasing an additional 18,372 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Hovnanian Enterprises by 26.0% during the third quarter. Assenagon Asset Management S.A. now owns 47,561 shares of the construction company’s stock valued at $9,720,000 after acquiring an additional 9,825 shares during the period. Finally, Bank of Montreal Can raised its position in shares of Hovnanian Enterprises by 72.3% during the second quarter. Bank of Montreal Can now owns 45,363 shares of the construction company’s stock valued at $6,438,000 after buying an additional 19,031 shares during the last quarter. Institutional investors own 65.40% of the company’s stock.

Analysts Set New Price Targets

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

Insider Transactions at Hovnanian Enterprises

In other Hovnanian Enterprises news, CEO Ara K. Hovnanian sold 13,552 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $215.14, for a total value of $2,915,577.28. Following the completion of the transaction, the chief executive officer now owns 47,279 shares of the company’s stock, valued at approximately $10,171,604.06. This trade represents a 22.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robin Stone Sellers sold 531 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $205.75, for a total value of $109,253.25. Following the completion of the transaction, the director now owns 21,033 shares of the company’s stock, valued at $4,327,539.75. This trade represents a 2.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,289 shares of company stock valued at $5,158,796. Company insiders own 17.67% of the company’s stock.

Hovnanian Enterprises Price Performance

Shares of HOV stock opened at $169.74 on Tuesday. The company’s 50-day simple moving average is $185.12 and its two-hundred day simple moving average is $181.00. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.45 and a quick ratio of 0.27. Hovnanian Enterprises, Inc. has a one year low of $125.63 and a one year high of $240.34. The company has a market capitalization of $1.03 billion, a P/E ratio of 5.29 and a beta of 2.62.

Hovnanian Enterprises Company Profile

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.