Ballast Inc. Has $2.10 Million Position in The Home Depot, Inc. (NYSE:HD)

Ballast Inc. trimmed its position in shares of The Home Depot, Inc. (NYSE:HD) by 0.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 5,173 shares of the home improvement retailer’s stock after selling 39 shares during the quarter. Home Depot makes up approximately 0.6% of Ballast Inc.’s investment portfolio, making the stock its 28th biggest holding. Ballast Inc.’s holdings in Home Depot were worth $2,096,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Fairway Wealth LLC bought a new stake in Home Depot in the second quarter valued at $25,000. Kings Path Partners LLC acquired a new stake in shares of Home Depot during the 2nd quarter worth about $33,000. Denver PWM LLC acquired a new position in Home Depot in the second quarter valued at about $40,000. Strategic Investment Solutions Inc. IL bought a new stake in Home Depot during the second quarter worth about $47,000. Finally, Quarry LP increased its holdings in shares of Home Depot by 36.0% during the second quarter. Quarry LP now owns 136 shares of the home improvement retailer’s stock worth $47,000 after buying an additional 36 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Price Performance

HD stock opened at $415.75 on Friday. The company has a fifty day moving average price of $383.77 and a 200-day moving average price of $358.20. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $421.56. The company has a market capitalization of $412.26 billion, a P/E ratio of 27.88, a PEG ratio of 2.88 and a beta of 1.00. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, topping the consensus estimate of $4.59 by $0.08. The business had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The firm’s revenue was up .6% on a year-over-year basis. During the same quarter last year, the firm posted $4.65 earnings per share. As a group, equities analysts expect that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.

Analyst Ratings Changes

A number of research firms have commented on HD. Telsey Advisory Group reissued a “market perform” rating and issued a $360.00 price objective on shares of Home Depot in a research note on Thursday, September 12th. Daiwa America raised shares of Home Depot to a “hold” rating in a report on Thursday, August 15th. Oppenheimer boosted their price objective on shares of Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 24th. Loop Capital raised Home Depot from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $360.00 to $460.00 in a report on Wednesday, October 9th. Finally, Gordon Haskett upgraded shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective on the stock in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $404.69.

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.