Covington Investment Advisors Inc. Has $13.56 Million Stock Position in The Home Depot, Inc. (NYSE:HD)

Covington Investment Advisors Inc. boosted its position in The Home Depot, Inc. (NYSE:HD) by 0.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 33,465 shares of the home improvement retailer’s stock after acquiring an additional 205 shares during the quarter. Home Depot makes up approximately 2.0% of Covington Investment Advisors Inc.’s investment portfolio, making the stock its 18th largest holding. Covington Investment Advisors Inc.’s holdings in Home Depot were worth $13,560,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Fairway Wealth LLC acquired a new position in Home Depot during the 2nd quarter valued at $25,000. Kings Path Partners LLC acquired a new position in shares of Home Depot during the second quarter valued at about $33,000. Denver PWM LLC bought a new stake in shares of Home Depot in the second quarter valued at about $40,000. Livelsberger Financial Advisory acquired a new stake in Home Depot during the third quarter worth about $46,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in Home Depot during the second quarter valued at about $47,000. Institutional investors own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

HD has been the subject of a number of research reports. Evercore ISI raised their price objective on Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. TD Cowen raised their target price on Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Daiwa America raised shares of Home Depot to a “hold” rating in a report on Thursday, August 15th. Truist Financial raised their price objective on shares of Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, DA Davidson lifted their target price on shares of Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $426.00.

Home Depot Stock Up 2.1 %

Shares of NYSE HD opened at $428.67 on Tuesday. The Home Depot, Inc. has a 1 year low of $308.59 and a 1 year high of $430.25. The firm has a market capitalization of $425.82 billion, a PE ratio of 29.12, a price-to-earnings-growth ratio of 2.92 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 firm’s 50-day moving average is $404.17 and its 200-day moving average is $369.82.

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

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be paid a $2.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a yield of 2.10%. Home Depot’s payout ratio is 61.14%.

Insiders Place Their Bets

In related news, EVP Ann Marie Campbell sold 100 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total value of $40,258.00. Following the sale, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at approximately $5,018,159.70. The trade was a 0.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the transaction, the executive vice president now owns 20,404 shares of the company’s stock, valued at approximately $8,343,399.64. This trade represents a 51.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,188 shares of company stock worth $15,624,585 over the last ninety days. 0.10% of the stock is currently owned by corporate insiders.

Home Depot Profile

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.