Ontario Teachers Pension Plan Board Sells 3,656 Shares of The Home Depot, Inc. (NYSE:HD)

Ontario Teachers Pension Plan Board lessened its stake in shares of The Home Depot, Inc. (NYSE:HD) by 56.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,780 shares of the home improvement retailer’s stock after selling 3,656 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Home Depot were worth $1,126,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Fairway Wealth LLC bought a new position in shares of Home Depot in the 2nd quarter valued at $25,000. Kings Path Partners LLC bought a new position in shares of Home Depot in the 2nd quarter valued at $33,000. Denver PWM LLC bought a new position in shares of Home Depot in the 2nd quarter valued at $40,000. Livelsberger Financial Advisory acquired a new stake in shares of Home Depot during the 3rd quarter valued at $46,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Home Depot during the 2nd quarter valued at $47,000. Institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Barclays boosted their price objective on Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. DA Davidson boosted their target price on Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a research report on Friday, October 25th. 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. TD Cowen boosted their price objective on Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Finally, Evercore ISI boosted their price objective on Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. One research 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 stock. According to MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $426.00.

Home Depot Stock Performance

Shares of HD opened at $399.98 on Thursday. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The Home Depot, Inc. has a one year low of $302.34 and a one year high of $421.56. The firm has a market capitalization of $397.30 billion, a PE ratio of 27.17, a price-to-earnings-growth ratio of 2.84 and a beta of 1.01. The company has a 50-day simple moving average of $401.72 and a two-hundred day simple moving average of $368.01.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 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 in the previous year, the firm posted $3.81 EPS. The firm’s revenue was up 6.6% on a year-over-year basis. On average, analysts anticipate that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Announces Dividend

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

Insiders Place Their Bets

In other news, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction on Monday, November 18th. The shares were sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the transaction, the executive vice president now owns 77,475 shares in the company, valued at $31,727,562. This trade represents a 17.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of Home Depot 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 transaction, the executive vice president now owns 20,404 shares in the company, valued at $8,343,399.64. This represents a 51.98 % decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.

Home Depot Company 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.