Montchanin Asset Management LLC Increases Stock Position in The Home Depot, Inc. (NYSE:HD)

Montchanin Asset Management LLC boosted its holdings in The Home Depot, Inc. (NYSE:HD) by 0.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 12,004 shares of the home improvement retailer’s stock after buying an additional 100 shares during the period. Home Depot accounts for approximately 4.5% of Montchanin Asset Management LLC’s holdings, making the stock its 8th biggest position. Montchanin Asset Management LLC’s holdings in Home Depot were worth $4,864,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of HD. Abacus Wealth Partners LLC grew its holdings in shares of Home Depot by 3.7% during the third quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock valued at $285,000 after buying an additional 25 shares during the last quarter. Redhawk Wealth Advisors Inc. increased its holdings in shares of Home Depot by 0.7% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock worth $1,469,000 after buying an additional 25 shares during the last quarter. Capital City Trust Co. FL boosted its stake in Home Depot by 1.1% during the third quarter. Capital City Trust Co. FL now owns 2,494 shares of the home improvement retailer’s stock worth $1,011,000 after buying an additional 26 shares during the period. Ruedi Wealth Management Inc. raised its holdings in shares of Home Depot by 1.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock valued at $817,000 after buying an additional 27 shares during the period. Finally, Acorn Creek Capital LLC boosted its position in Home Depot by 3.4% in the 2nd quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock valued at $291,000 after buying an additional 28 shares during the period. 70.86% of the stock is owned by institutional investors.

Insider Buying and Selling at Home Depot

In other news, EVP Timothy A. Hourigan sold 16,004 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 77,475 shares in the company, valued at $31,727,562. The trade was a 17.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 20,404 shares in the company, valued at $8,343,399.64. This trade represents a 51.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,188 shares of company stock worth $15,624,585. Insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

HD has been the topic of several recent analyst reports. Gordon Haskett upgraded shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price target on the stock in a research note on Wednesday, October 2nd. Evercore ISI increased their price target on shares of Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Guggenheim boosted their target price on Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Melius Research started coverage on Home Depot in a research report on Monday, September 23rd. They set a “buy” rating and a $420.00 price target for the company. Finally, Truist Financial lifted their price objective on Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $426.00.

Home Depot Price Performance

NYSE HD opened at $431.37 on Friday. 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 company has a fifty day simple moving average of $410.60 and a 200 day simple moving average of $375.06. The company has a market cap of $428.51 billion, a P/E ratio of 29.31, a P/E/G ratio of 2.97 and a beta of 1.03. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.64 by $0.14. The firm had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.81 EPS. On average, sell-side analysts predict that The Home Depot, Inc. will post 15.12 EPS for the current 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 paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Wednesday, November 27th. Home Depot’s dividend payout ratio is presently 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.