Ingalls & Snyder LLC Increases Stock Position in The Home Depot, Inc. (NYSE:HD)

Ingalls & Snyder LLC lifted its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 3.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 79,994 shares of the home improvement retailer’s stock after acquiring an additional 2,489 shares during the period. Home Depot accounts for about 1.3% of Ingalls & Snyder LLC’s holdings, making the stock its 13th biggest position. Ingalls & Snyder LLC’s holdings in Home Depot were worth $32,414,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Texas Capital Bank Wealth Management Services Inc grew its position in Home Depot by 27.6% in the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock valued at $9,348,000 after buying an additional 5,879 shares during the last quarter. Pegasus Asset Management Inc. grew its position in Home Depot by 1.8% in the 3rd quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock valued at $2,024,000 after buying an additional 86 shares during the last quarter. Swedbank AB grew its position in Home Depot by 17.1% in the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after buying an additional 132,967 shares during the last quarter. LGT Group Foundation grew its position in Home Depot by 121.0% in the 2nd quarter. LGT Group Foundation now owns 269,368 shares of the home improvement retailer’s stock valued at $92,727,000 after buying an additional 147,482 shares during the last quarter. Finally, Cerity Partners LLC grew its position in Home Depot by 14.3% in the 3rd quarter. Cerity Partners LLC now owns 673,876 shares of the home improvement retailer’s stock valued at $273,055,000 after buying an additional 84,062 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Home Depot

In other Home Depot news, EVP Timothy A. Hourigan sold 16,004 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $409.52, for a total value of $6,553,958.08. Following the completion of the transaction, the executive vice president now owns 77,475 shares in the company, valued at $31,727,562. This represents a 17.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total value of $9,030,368.44. Following the completion of the transaction, the executive vice president now directly owns 20,404 shares in the company, valued at approximately $8,343,399.64. The trade was a 51.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,188 shares of company stock worth $15,624,585. 0.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on HD shares. Sanford C. Bernstein started coverage on Home Depot in a report on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 target price for the company. Oppenheimer raised their target price on Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a report on Tuesday, September 24th. Stifel Nicolaus raised their target price on Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a report on Monday, November 11th. JPMorgan Chase & Co. raised their target price on Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Finally, Melius Research assumed coverage on Home Depot in a report on Monday, September 23rd. They issued a “buy” rating and a $420.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Trading Down 0.6 %

HD traded down $2.45 during midday trading on Tuesday, hitting $424.51. The company’s stock had a trading volume of 229,575 shares, compared to its average volume of 3,369,652. 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 firm has a market cap of $421.69 billion, a P/E ratio of 29.01, a PEG ratio of 2.98 and a beta of 1.03. The firm has a 50-day moving average price of $407.48 and a two-hundred day moving average price of $372.20. The Home Depot, Inc. has a 52-week low of $318.96 and a 52-week high of $439.37.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same quarter in the previous year, the business earned $3.81 EPS. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, research analysts anticipate that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Wednesday, November 27th. Home Depot’s payout ratio is currently 61.14%.

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.