Toronto Dominion Bank decreased its stake in The Howard Hughes Co. (NYSE:HHC) by 17.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,624 shares of the financial services provider’s stock after selling 1,392 shares during the period. Toronto Dominion Bank’s holdings in Howard Hughes were worth $582,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Howard Hughes by 1.3% in the second quarter. Vanguard Group Inc. now owns 5,973,459 shares of the financial services provider’s stock worth $582,173,000 after acquiring an additional 75,579 shares during the last quarter. BlackRock Inc. boosted its stake in Howard Hughes by 1.1% during the second quarter. BlackRock Inc. now owns 2,606,590 shares of the financial services provider’s stock worth $254,036,000 after buying an additional 28,187 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Howard Hughes by 20.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,028,272 shares of the financial services provider’s stock worth $100,216,000 after buying an additional 173,869 shares in the last quarter. FMR LLC boosted its stake in Howard Hughes by 35.8% during the second quarter. FMR LLC now owns 734,083 shares of the financial services provider’s stock worth $71,544,000 after buying an additional 193,581 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Howard Hughes by 3.6% during the second quarter. Geode Capital Management LLC now owns 699,112 shares of the financial services provider’s stock worth $68,135,000 after buying an additional 24,001 shares in the last quarter. Institutional investors and hedge funds own 90.92% of the company’s stock.
HHC opened at $101.42 on Friday. The Howard Hughes Co. has a fifty-two week low of $81.99 and a fifty-two week high of $113.20. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.68 and a quick ratio of 1.68. The firm’s fifty day moving average price is $94.68 and its two-hundred day moving average price is $92.09. The company has a market capitalization of $5.59 billion, a P/E ratio of -87.43 and a beta of 1.50.
Howard Hughes announced that its Board of Directors has approved a stock buyback plan on Thursday, November 4th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 5.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
Separately, Zacks Investment Research downgraded shares of Howard Hughes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday.
Howard Hughes Profile
The Howard Hughes Corp. engages in the development and management of commercial, residential, and mixed-use real estate. It operates through the following segments: Operating Assets, Master Planned Communities; Seaport District; and Strategic Developments. The Operating Assets segment consists retail, office, hospitality, and multi-family properties along with other real estate investments.
Featured Article: How to Trade Using Analysts Ratings
Want to see what other hedge funds are holding HHC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Howard Hughes Co. (NYSE:HHC).
Receive News & Ratings for Howard Hughes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Howard Hughes and related companies with MarketBeat.com's FREE daily email newsletter.