Truist Financial Corp Acquires New Shares in Haverty Furniture Companies, Inc. $HVT

Truist Financial Corp acquired a new stake in shares of Haverty Furniture Companies, Inc. (NYSE:HVT) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 10,000 shares of the company’s stock, valued at approximately $204,000. Truist Financial Corp owned 0.06% of Haverty Furniture Companies at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HVT. Nisa Investment Advisors LLC boosted its position in Haverty Furniture Companies by 509.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 3,736 shares of the company’s stock valued at $74,000 after purchasing an additional 3,123 shares during the period. CWM LLC boosted its position in Haverty Furniture Companies by 163.0% during the 1st quarter. CWM LLC now owns 4,645 shares of the company’s stock worth $92,000 after acquiring an additional 2,879 shares during the period. Pzena Investment Management LLC boosted its position in Haverty Furniture Companies by 0.4% during the 1st quarter. Pzena Investment Management LLC now owns 966,081 shares of the company’s stock worth $19,051,000 after acquiring an additional 3,979 shares during the period. GSA Capital Partners LLP boosted its position in Haverty Furniture Companies by 59.7% during the 1st quarter. GSA Capital Partners LLP now owns 39,209 shares of the company’s stock worth $773,000 after acquiring an additional 14,657 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in Haverty Furniture Companies by 1,929.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,522 shares of the company’s stock worth $30,000 after acquiring an additional 1,447 shares during the period. Institutional investors and hedge funds own 80.57% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Wall Street Zen lowered Haverty Furniture Companies from a “buy” rating to a “hold” rating in a research report on Saturday, July 5th. Weiss Ratings lowered Haverty Furniture Companies from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Haverty Furniture Companies currently has an average rating of “Reduce”.

Haverty Furniture Companies Stock Down 0.4%

Shares of Haverty Furniture Companies stock opened at $20.07 on Friday. The firm has a market cap of $326.46 million, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 1.47 and a beta of 1.24. The business has a fifty day simple moving average of $22.22 and a 200-day simple moving average of $20.83. Haverty Furniture Companies, Inc. has a fifty-two week low of $17.01 and a fifty-two week high of $25.83.

Haverty Furniture Companies (NYSE:HVT) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.01. The business had revenue of $181.03 million during the quarter, compared to analyst estimates of $177.11 million. Haverty Furniture Companies had a return on equity of 6.39% and a net margin of 2.71%. Analysts anticipate that Haverty Furniture Companies, Inc. will post 0.88 earnings per share for the current fiscal year.

Haverty Furniture Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Monday, August 25th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, August 25th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 6.4%. Haverty Furniture Companies’s payout ratio is 111.30%.

Insider Activity

In other news, Director Rawson Haverty, Jr. sold 10,003 shares of the business’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $23.10, for a total transaction of $231,069.30. Following the sale, the director directly owned 4,523 shares of the company’s stock, valued at $104,481.30. The trade was a 68.86% 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. Insiders sold 40,000 shares of company stock worth $918,900 over the last quarter. 8.63% of the stock is owned by insiders.

Haverty Furniture Companies Company Profile

Haverty Furniture Companies, Inc operates as a specialty retailer of residential furniture and accessories in the United States. The company offers furniture merchandise under the Havertys brand name. It also provides custom upholstery products and eclectic looks; and mattress product lines under the Tempur-Pedic, Serta, Sealy, and Stearns and Foster names.