Empowered Funds LLC Buys Shares of 119,516 Haverty Furniture Companies, Inc. $HVT

Key Points

• Empowered Funds LLC bought 119,516 shares of Haverty Furniture Companies valued at approximately $3.05 million, giving it a 0.77% stake. Institutional investors and hedge funds collectively own 80.57% of the company.
• Haverty Furniture reported quarterly EPS of $0.25, exceeding the $0.23 consensus estimate, while revenue of $194.94 million also topped expectations. The stock opened at $27.12, within its $19.89–$29.83 12-month range.
• The company declared a quarterly dividend of $0.33, equivalent to $1.32 annually and a 4.9% yield. Analyst sentiment remains broadly “Hold,” although one research firm upgraded the stock to “Buy.”

Empowered Funds LLC purchased a new position in shares of Haverty Furniture Companies, Inc. (NYSE:HVT - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 119,516 shares of the company's stock, valued at approximately $3,051,000. Empowered Funds LLC owned approximately 0.77% of Haverty Furniture Companies at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Legal & General Group Plc bought a new position in shares of Haverty Furniture Companies in the second quarter valued at approximately $32,000. Raymond James Financial Inc. bought a new stake in Haverty Furniture Companies during the second quarter worth approximately $31,000. CANADA LIFE ASSURANCE Co raised its holdings in Haverty Furniture Companies by 57.0% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,721 shares of the company's stock worth $40,000 after purchasing an additional 625 shares in the last quarter. Fifth Third Bancorp bought a new stake in Haverty Furniture Companies during the first quarter worth approximately $49,000. Finally, State of Wyoming acquired a new stake in Haverty Furniture Companies in the second quarter worth approximately $58,000. 80.57% of the stock is owned by institutional investors and hedge funds.

Haverty Furniture Companies Trading Down 0.6%

NYSE:HVT opened at $27.12 on Wednesday. The company has a 50-day moving average of $26.45 and a 200-day moving average of $24.03. The firm has a market cap of $422.80 million, a price-to-earnings ratio of 19.94, a price-to-earnings-growth ratio of 1.40 and a beta of 1.22. Haverty Furniture Companies, Inc. has a twelve month low of $19.89 and a twelve month high of $29.83.

Haverty Furniture Companies (NYSE:HVT - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.25 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.02. Haverty Furniture Companies had a net margin of 2.93% and a return on equity of 7.15%. The business had revenue of $194.94 million for the quarter, compared to the consensus estimate of $189.19 million. On average, research analysts forecast that Haverty Furniture Companies, Inc. will post 1.62 earnings per share for the current year.

Haverty Furniture Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Tuesday, August 25th will be given a $0.33 dividend. The ex-dividend date is Tuesday, August 25th. This represents a $1.32 annualized dividend and a yield of 4.9%. Haverty Furniture Companies's payout ratio is 97.06%.

Analysts Set New Price Targets

HVT has been the subject of a number of research reports. Weiss Ratings raised Haverty Furniture Companies from a "hold (c-)" rating to a "hold (c+)" rating in a research note on Tuesday, August 18th. Zacks Research raised Haverty Furniture Companies from a "strong sell" rating to a "hold" rating in a research note on Monday, July 6th. Finally, Wall Street Zen upgraded Haverty Furniture Companies from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Haverty Furniture Companies has an average rating of "Hold".

Insider Transactions at Haverty Furniture Companies

In other Haverty Furniture Companies news, Chairman Clarence H. Smith sold 20,991 shares of the company's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $28.16, for a total value of $591,106.56. Following the transaction, the chairman owned 71,705 shares of the company's stock, valued at approximately $2,019,212.80. This represents a 22.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.40% of the company's stock.

Haverty Furniture Companies Company Profile

Haverty Furniture Companies, Inc operates as a specialty retailer of residential furniture and home décor in the United States. Founded in 1885 by J.J. Haverty and headquartered in Atlanta, Georgia, the company offers a broad assortment of upholstered furniture, case goods, mattresses, area rugs and decorative accessories. Customers can shop through a network of company-owned showrooms as well as an e-commerce platform, supported by in-house design services, delivery options and consumer financing programs.

Over more than a century of operation, Havertys has expanded its presence primarily across the Southeast and select markets beyond.

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