Kinsale Capital Group Inc. Raises Holdings in The Home Depot, Inc. (NYSE:HD)

Kinsale Capital Group Inc. boosted its position in The Home Depot, Inc. (NYSE:HD) by 17.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,084 shares of the home improvement retailer’s stock after purchasing an additional 2,771 shares during the quarter. Home Depot makes up approximately 2.3% of Kinsale Capital Group Inc.’s investment portfolio, making the stock its 10th largest holding. Kinsale Capital Group Inc.’s holdings in Home Depot were worth $7,733,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of HD. Texas Capital Bank Wealth Management Services Inc raised its stake in Home Depot by 27.6% in the second 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. boosted its stake 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 worth $2,024,000 after purchasing an additional 86 shares in the last quarter. Swedbank AB grew its position in Home Depot by 17.1% during the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after purchasing an additional 132,967 shares during the last quarter. LGT Group Foundation increased its stake in Home Depot by 121.0% during the 2nd quarter. LGT Group Foundation now owns 269,368 shares of the home improvement retailer’s stock valued at $92,727,000 after purchasing an additional 147,482 shares in the last quarter. Finally, CX Institutional raised its holdings in shares of Home Depot by 225.6% in the third quarter. CX Institutional now owns 32,717 shares of the home improvement retailer’s stock worth $13,257,000 after buying an additional 22,668 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Piper Sandler boosted their price objective on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a report on Monday, September 30th. TD Cowen boosted their price target on Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Evercore ISI raised their price objective on Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday. Royal Bank of Canada upped their target price on Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company raised their price target on shares of Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and an average target price of $426.00.

Insider Activity

In related news, EVP Teresa Wynn Roseborough sold 22,084 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were 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 owns 20,404 shares of the company’s stock, valued at approximately $8,343,399.64. This represents a 51.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.10% of the company’s stock.

Home Depot Price Performance

Home Depot stock traded up $2.46 during trading on Friday, reaching $408.18. The company had a trading volume of 3,239,545 shares, compared to its average volume of 3,381,447. The firm has a market capitalization of $405.44 billion, a PE ratio of 27.73, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01. The firm’s 50-day simple moving average is $399.51 and its 200 day simple moving average is $366.34. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.33 and a current ratio of 1.13. 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 announced its 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. 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 for the quarter, compared to analyst estimates of $39.31 billion. During the same quarter last year, the business earned $3.81 earnings per share. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, equities research analysts anticipate that The Home Depot, Inc. will post 15.06 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be issued a dividend of $2.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.20%. Home Depot’s payout ratio is currently 61.14%.

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.