Corton Capital Inc. Invests $481,000 in Hovnanian Enterprises Inc $HOV

Corton Capital Inc. purchased a new position in shares of Hovnanian Enterprises Inc (NYSE:HOV) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 4,598 shares of the construction company’s stock, valued at approximately $481,000. Hovnanian Enterprises comprises 0.6% of Corton Capital Inc.’s investment portfolio, making the stock its 20th largest holding. Corton Capital Inc. owned 0.08% of Hovnanian Enterprises at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Teacher Retirement System of Texas boosted its holdings in Hovnanian Enterprises by 17.0% in the 2nd quarter. Teacher Retirement System of Texas now owns 15,063 shares of the construction company’s stock worth $1,575,000 after buying an additional 2,192 shares during the period. AlphaQuest LLC raised its position in shares of Hovnanian Enterprises by 10,727.3% during the 2nd quarter. AlphaQuest LLC now owns 1,191 shares of the construction company’s stock valued at $125,000 after buying an additional 1,180 shares in the last quarter. Denali Advisors LLC raised its position in Hovnanian Enterprises by 3.1% in the 2nd quarter. Denali Advisors LLC now owns 16,308 shares of the construction company’s stock worth $1,705,000 after purchasing an additional 494 shares during the period. Allianz Asset Management GmbH raised its position in Hovnanian Enterprises by 61.8% in the 2nd quarter. Allianz Asset Management GmbH now owns 5,938 shares of the construction company’s stock worth $621,000 after purchasing an additional 2,267 shares during the period. Finally, Mutual Advisors LLC purchased a new position in shares of Hovnanian Enterprises in the second quarter valued at about $390,000. 65.40% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on HOV. Wall Street Zen upgraded shares of Hovnanian Enterprises from a “sell” rating to a “hold” rating in a research report on Sunday, September 7th. Wedbush reissued a “neutral” rating and set a $120.00 price objective on shares of Hovnanian Enterprises in a research note on Wednesday, August 27th. Zacks Research downgraded shares of Hovnanian Enterprises from a “hold” rating to a “strong sell” rating in a research note on Friday, October 10th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Hovnanian Enterprises in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $120.00.

Insider Activity

In other news, CEO Ara K. Hovnanian sold 609 shares of the company’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $138.31, for a total transaction of $84,230.79. Following the completion of the sale, the chief executive officer owned 62,896 shares of the company’s stock, valued at $8,699,145.76. This represents a 0.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 19.77% of the stock is owned by insiders.

Hovnanian Enterprises Trading Down 2.0%

NYSE HOV opened at $119.82 on Monday. The company’s 50-day simple moving average is $135.10 and its two-hundred day simple moving average is $119.05. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.36 and a current ratio of 1.62. Hovnanian Enterprises Inc has a one year low of $81.15 and a one year high of $202.00. The company has a market capitalization of $705.97 million, a price-to-earnings ratio of 5.76 and a beta of 2.12.

Hovnanian Enterprises (NYSE:HOV) last released its earnings results on Thursday, August 21st. The construction company reported $1.99 EPS for the quarter, missing analysts’ consensus estimates of $3.51 by ($1.52). Hovnanian Enterprises had a return on equity of 23.31% and a net margin of 5.06%.The company had revenue of $800.58 million during the quarter, compared to analyst estimates of $806.20 million. During the same quarter last year, the business earned $9.75 earnings per share. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. Hovnanian Enterprises has set its Q4 2025 guidance at EPS.

Hovnanian Enterprises 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.