Confluence Investment Management LLC Has $150 Million Stock Position in The Home Depot, Inc. (NYSE:HD)

Confluence Investment Management LLC trimmed its position in The Home Depot, Inc. (NYSE:HD) by 1.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 370,178 shares of the home improvement retailer’s stock after selling 5,250 shares during the period. Home Depot makes up approximately 2.0% of Confluence Investment Management LLC’s investment portfolio, making the stock its 10th largest holding. Confluence Investment Management LLC’s holdings in Home Depot were worth $149,996,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of HD. Tandem Investment Advisors Inc. raised its holdings in shares of Home Depot by 79.6% in the third quarter. Tandem Investment Advisors Inc. now owns 2,564 shares of the home improvement retailer’s stock valued at $1,039,000 after purchasing an additional 1,136 shares during the last quarter. Portside Wealth Group LLC grew its position in Home Depot by 8.5% in the third quarter. Portside Wealth Group LLC now owns 7,157 shares of the home improvement retailer’s stock valued at $2,900,000 after purchasing an additional 560 shares in the last quarter. Consolidated Planning Corp increased its stake in Home Depot by 7.3% in the 3rd quarter. Consolidated Planning Corp now owns 28,769 shares of the home improvement retailer’s stock valued at $11,657,000 after buying an additional 1,951 shares during the last quarter. Western Pacific Wealth Management LP lifted its position in Home Depot by 102.0% during the 3rd quarter. Western Pacific Wealth Management LP now owns 200 shares of the home improvement retailer’s stock worth $81,000 after buying an additional 101 shares in the last quarter. Finally, Global Strategic Investment Solutions LLC boosted its stake in shares of Home Depot by 4.9% during the 3rd quarter. Global Strategic Investment Solutions LLC now owns 2,308 shares of the home improvement retailer’s stock worth $935,000 after buying an additional 108 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Trading Up 2.8 %

Shares of Home Depot stock opened at $399.41 on Friday. The Home Depot, Inc. has a 52-week low of $286.79 and a 52-week high of $421.56. The stock has a market cap of $396.73 billion, a PE ratio of 26.88, a PEG ratio of 2.74 and a beta of 1.01. The firm has a 50-day moving average of $393.80 and a 200-day moving average of $363.10. 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 posted its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 733.61%. The firm had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. During the same quarter in the previous year, the firm posted $4.65 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, sell-side analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were paid a dividend of $2.25 per share. The ex-dividend date was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a yield of 2.25%. Home Depot’s dividend payout ratio (DPR) is presently 60.57%.

Wall Street Analyst Weigh In

HD has been the topic of several analyst reports. JPMorgan Chase & Co. upped their target price on Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Jefferies Financial Group began coverage on Home Depot in a research note on Tuesday, July 16th. They set a “buy” rating and a $426.00 price objective on the stock. Loop Capital raised shares of Home Depot from a “hold” rating to a “buy” rating and raised their target price for the company from $360.00 to $460.00 in a research note on Wednesday, October 9th. Sanford C. Bernstein initiated coverage on shares of Home Depot in a report on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 target price on the stock. Finally, DA Davidson increased their price target on shares of Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $416.52.

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.