Advisors Asset Management Inc. Increases Stake in The Home Depot, Inc. (NYSE:HD)

Advisors Asset Management Inc. increased its position in The Home Depot, Inc. (NYSE:HD) by 2.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 90,340 shares of the home improvement retailer’s stock after buying an additional 2,391 shares during the quarter. Home Depot comprises about 0.7% of Advisors Asset Management Inc.’s investment portfolio, making the stock its 15th biggest position. Advisors Asset Management Inc.’s holdings in Home Depot were worth $36,606,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Howe & Rusling Inc. boosted its holdings in Home Depot by 6.7% in the third quarter. Howe & Rusling Inc. now owns 2,860 shares of the home improvement retailer’s stock valued at $1,159,000 after purchasing an additional 180 shares during the last quarter. Hilton Capital Management LLC increased its stake in Home Depot by 1.6% during the third quarter. Hilton Capital Management LLC now owns 33,042 shares of the home improvement retailer’s stock valued at $13,389,000 after purchasing an additional 525 shares during the last quarter. NS Partners Ltd grew its position in shares of Home Depot by 5.1% during the 3rd quarter. NS Partners Ltd now owns 2,688 shares of the home improvement retailer’s stock valued at $1,089,000 after buying an additional 131 shares during the last quarter. MWA Asset Management raised its position in shares of Home Depot by 1.1% during the 3rd quarter. MWA Asset Management now owns 7,887 shares of the home improvement retailer’s stock worth $3,196,000 after purchasing an additional 82 shares during the period. Finally, Segall Bryant & Hamill LLC increased its position in Home Depot by 248.4% in the third quarter. Segall Bryant & Hamill LLC now owns 89,385 shares of the home improvement retailer’s stock worth $36,219,000 after buying an additional 63,727 shares during the period. 70.86% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. DA Davidson lifted their price target on Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a report on Friday, October 25th. Sanford C. Bernstein initiated coverage on shares of Home Depot in a research report on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 price objective for the company. Piper Sandler lifted their target price on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Royal Bank of Canada lifted their target price on shares of Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a research report on Monday, November 11th. Finally, Barclays upped their price target on Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Trading Down 0.9 %

Shares of Home Depot stock opened at $406.88 on Wednesday. The company’s fifty day simple moving average is $401.13 and its 200-day simple moving average is $367.78. The company has a market cap of $404.15 billion, a price-to-earnings ratio of 27.64, a PEG ratio of 2.84 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 Home Depot, Inc. has a 1 year low of $302.34 and a 1 year high of $421.56.

Home Depot (NYSE:HD) last issued its earnings results 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 analyst estimates of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. Home Depot’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the company posted $3.81 earnings per share. As a group, sell-side analysts expect that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be given a dividend of $2.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $9.00 annualized dividend and a dividend yield of 2.21%. Home Depot’s dividend payout ratio (DPR) is presently 61.14%.

Insider Activity

In related news, EVP Teresa Wynn Roseborough sold 22,084 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the completion of the sale, the executive vice president now directly owns 20,404 shares of the company’s stock, valued at $8,343,399.64. This trade represents a 51.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.10% of the stock is 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.