WorthPointe LLC Acquires New Position in The Home Depot, Inc. (NYSE:HD)

WorthPointe LLC bought a new position in shares of The Home Depot, Inc. (NYSE:HD) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 727 shares of the home improvement retailer’s stock, valued at approximately $295,000.

A number of other large investors have also recently modified their holdings of HD. Texas Capital Bank Wealth Management Services Inc grew its stake in shares of Home Depot by 27.6% during the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock worth $9,348,000 after buying an additional 5,879 shares during the last quarter. Pegasus Asset Management Inc. raised its holdings in Home Depot by 1.8% in the 3rd quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock valued at $2,024,000 after buying an additional 86 shares during the last quarter. Swedbank AB boosted its position in Home Depot by 17.1% during the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after buying an additional 132,967 shares during the period. LGT Group Foundation raised its stake in shares of Home Depot by 121.0% during the second quarter. LGT Group Foundation now owns 269,368 shares of the home improvement retailer’s stock valued at $92,727,000 after acquiring an additional 147,482 shares during the last quarter. Finally, CX Institutional grew its stake in shares of Home Depot by 225.6% in the third quarter. CX Institutional now owns 32,717 shares of the home improvement retailer’s stock worth $13,257,000 after purchasing an additional 22,668 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Performance

Shares of Home Depot stock opened at $429.62 on Wednesday. The firm has a market capitalization of $426.77 billion, a P/E ratio of 29.19, a price-to-earnings-growth ratio of 2.98 and a beta of 1.01. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The business’s fifty day simple moving average is $405.09 and its 200 day simple moving average is $370.41. The Home Depot, Inc. has a 12 month low of $308.59 and a 12 month high of $439.37.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. During the same quarter last year, the company posted $3.81 earnings per share. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, analysts anticipate that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be paid a dividend of $2.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $9.00 annualized dividend and a dividend yield of 2.09%. Home Depot’s payout ratio is 61.14%.

Insider Buying and Selling

In other news, EVP Timothy A. Hourigan sold 16,004 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $409.52, for a total value of $6,553,958.08. Following the completion of the transaction, the executive vice president now directly owns 77,475 shares of the company’s stock, valued at $31,727,562. This trade represents a 17.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ann Marie Campbell sold 100 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total value of $40,258.00. Following the completion of the transaction, the executive vice president now owns 12,465 shares of the company’s stock, valued at approximately $5,018,159.70. This represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,188 shares of company stock valued at $15,624,585. 0.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Stifel Nicolaus lifted their target price on Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a report on Monday, November 11th. UBS Group lifted their price objective on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Loop Capital upgraded shares of Home Depot from a “hold” rating to a “buy” rating and raised their price target for the stock from $360.00 to $460.00 in a report on Wednesday, October 9th. Evercore ISI increased their price objective on shares of Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Daiwa America raised shares of Home Depot to a “hold” rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and a consensus price target of $426.00.

About Home Depot

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.