Hovnanian Enterprises, Inc. (NYSE:HOV) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its holdings in Hovnanian Enterprises, Inc. (NYSE:HOV) by 23.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,199 shares of the construction company’s stock after acquiring an additional 785 shares during the quarter. Victory Capital Management Inc.’s holdings in Hovnanian Enterprises were worth $562,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of Hovnanian Enterprises by 20.6% during the 3rd quarter. FMR LLC now owns 346 shares of the construction company’s stock valued at $71,000 after purchasing an additional 59 shares during the period. B. Riley Wealth Advisors Inc. acquired a new position in shares of Hovnanian Enterprises during the 3rd quarter valued at $205,000. Paloma Partners Management Co acquired a new position in shares of Hovnanian Enterprises during the 3rd quarter valued at $254,000. Intech Investment Management LLC acquired a new position in shares of Hovnanian Enterprises during the 3rd quarter valued at $345,000. Finally, Virtu Financial LLC acquired a new position in shares of Hovnanian Enterprises during the 3rd quarter valued at $347,000. 65.40% of the stock is currently owned by institutional investors and hedge funds.

Hovnanian Enterprises Price Performance

HOV opened at $106.14 on Friday. The stock has a market cap of $628.87 million, a price-to-earnings ratio of 3.31 and a beta of 2.85. Hovnanian Enterprises, Inc. has a 1 year low of $95.27 and a 1 year high of $240.34. The company has a current ratio of 1.52, a quick ratio of 0.34 and a debt-to-equity ratio of 0.14. The stock has a fifty day moving average price of $122.22 and a 200 day moving average price of $158.18.

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, beating analysts’ consensus estimates of $2.71 by $0.87. The firm had revenue of $673.62 million during the quarter, compared to analysts’ expectations of $705.80 million. Hovnanian Enterprises had a return on equity of 43.47% and a net margin of 8.05%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on HOV shares. StockNews.com cut Hovnanian Enterprises from a “hold” rating to a “sell” rating in a research report on Tuesday. Wedbush reiterated 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 research report on Wednesday, February 12th.

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.