Encompass More Asset Management Boosts Holdings in The Home Depot, Inc. (NYSE:HD)

Encompass More Asset Management lifted its stake in The Home Depot, Inc. (NYSE:HD) by 19.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,139 shares of the home improvement retailer’s stock after buying an additional 183 shares during the period. Encompass More Asset Management’s holdings in Home Depot were worth $461,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Edgestream Partners L.P. grew its position in shares of Home Depot by 352.9% in the 3rd quarter. Edgestream Partners L.P. now owns 10,830 shares of the home improvement retailer’s stock valued at $4,388,000 after buying an additional 8,439 shares during the last quarter. L.M. Kohn & Company grew its position in Home Depot by 3.2% during the 3rd quarter. L.M. Kohn & Company now owns 12,526 shares of the home improvement retailer’s stock worth $5,076,000 after purchasing an additional 388 shares during the last quarter. Ironwood Investment Counsel LLC grew its position in Home Depot by 0.7% during the 3rd quarter. Ironwood Investment Counsel LLC now owns 16,561 shares of the home improvement retailer’s stock worth $6,711,000 after purchasing an additional 118 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in Home Depot by 295.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 693,318 shares of the home improvement retailer’s stock worth $280,932,000 after purchasing an additional 518,054 shares during the last quarter. Finally, Fred Alger Management LLC grew its position in Home Depot by 5.2% during the 3rd quarter. Fred Alger Management LLC now owns 42,065 shares of the home improvement retailer’s stock worth $17,045,000 after purchasing an additional 2,071 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Home Depot

In related news, EVP Timothy A. Hourigan sold 16,004 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $409.52, for a total value of $6,553,958.08. Following the completion of the sale, the executive vice president now directly owns 77,475 shares in the company, valued at approximately $31,727,562. The trade was a 17.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ann Marie Campbell sold 100 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total transaction of $40,258.00. Following the completion of the sale, the executive vice president now 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,188 shares of company stock worth $15,624,585. 0.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on HD. Guggenheim raised their price objective on shares of Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. TD Cowen raised their price objective on shares of Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. DA Davidson raised their price objective on shares of Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Piper Sandler raised their price objective on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Finally, Barclays raised their target price on shares of Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Stock Performance

Shares of NYSE HD opened at $429.51 on Friday. The company has a market cap of $426.66 billion, a PE ratio of 29.18, a price-to-earnings-growth ratio of 2.97 and a beta of 1.01. The Home Depot, Inc. has a 12 month low of $308.59 and a 12 month high of $439.37. 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 company has a 50-day simple moving average of $407.48 and a 200-day simple moving average of $371.81.

Home Depot (NYSE:HD) last issued its quarterly 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. The business had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.81 earnings per share. On average, equities analysts anticipate that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Announces Dividend

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 issued a $2.25 dividend. The ex-dividend date of this dividend 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%.

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.