Pzena Investment Management LLC Buys New Position in Haverty Furniture Companies, Inc. $HVT

Pzena Investment Management LLC bought a new stake in Haverty Furniture Companies, Inc. (NYSE:HVT) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,563,451 shares of the company’s stock, valued at approximately $39,915,000. Pzena Investment Management LLC owned approximately 0.10% of Haverty Furniture Companies as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co raised its holdings in shares of Haverty Furniture Companies by 57.0% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,721 shares of the company’s stock valued at $40,000 after purchasing an additional 625 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Haverty Furniture Companies by 7.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,898 shares of the company’s stock valued at $175,000 after purchasing an additional 651 shares in the last quarter. Hsbc Holdings PLC increased its stake in Haverty Furniture Companies by 1.6% in the 1st quarter. Hsbc Holdings PLC now owns 46,941 shares of the company’s stock valued at $994,000 after buying an additional 737 shares during the last quarter. First Trust Advisors LP increased its stake in Haverty Furniture Companies by 2.0% in the 2nd quarter. First Trust Advisors LP now owns 42,391 shares of the company’s stock valued at $863,000 after buying an additional 843 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in Haverty Furniture Companies by 4.8% during the 1st quarter. Bank of America Corp DE now owns 26,230 shares of the company’s stock worth $556,000 after buying an additional 1,195 shares in the last quarter. 80.57% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

HVT has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of Haverty Furniture Companies from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Research raised Haverty Furniture Companies from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Haverty Furniture Companies in a research note on Tuesday, August 4th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Haverty Furniture Companies Stock Down 1.4%

HVT opened at $28.38 on Tuesday. Haverty Furniture Companies, Inc. has a 12-month low of $19.89 and a 12-month high of $29.83. The business has a 50 day moving average of $25.67 and a 200-day moving average of $23.94. The stock has a market cap of $442.44 million, a price-to-earnings ratio of 20.87, a PEG ratio of 1.48 and a beta of 1.20.

Haverty Furniture Companies (NYSE:HVT) last posted its earnings results on Tuesday, August 4th. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. Haverty Furniture Companies had a return on equity of 7.15% and a net margin of 2.93%.The business had revenue of $194.94 million for the quarter, compared to analyst estimates of $189.19 million. As a group, analysts expect that Haverty Furniture Companies, Inc. will post 1.62 earnings per share for the current year.

Haverty Furniture Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Tuesday, August 25th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Tuesday, August 25th. Haverty Furniture Companies’s payout ratio is currently 97.06%.

About Haverty Furniture Companies

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.