Portside Wealth Group LLC Increases Stock Position in The Home Depot, Inc. (NYSE:HD)

Portside Wealth Group LLC lifted its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 8.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,157 shares of the home improvement retailer’s stock after purchasing an additional 560 shares during the period. Portside Wealth Group LLC’s holdings in Home Depot were worth $2,900,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. International Assets Investment Management LLC boosted its stake in shares of Home Depot by 51,250.1% during the third quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock valued at $35,575,880,000 after acquiring an additional 8,762,735 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Home Depot by 1.2% during the second quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock valued at $2,931,328,000 after buying an additional 100,139 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Home Depot by 15.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock worth $2,853,143,000 after acquiring an additional 971,833 shares during the last quarter. Ameriprise Financial Inc. grew its stake in Home Depot by 2.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,774,083 shares of the home improvement retailer’s stock worth $1,980,883,000 after acquiring an additional 138,396 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Home Depot by 7.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,643,176 shares of the home improvement retailer’s stock worth $1,598,316,000 after purchasing an additional 333,312 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on HD shares. Melius Research initiated coverage on Home Depot in a report on Monday, September 23rd. They issued a “buy” rating and a $420.00 price target for the company. Daiwa America upgraded shares of Home Depot to a “hold” rating in a report on Thursday, August 15th. Stifel Nicolaus cut their target price on Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a research report on Wednesday, August 14th. Sanford C. Bernstein initiated coverage on Home Depot in a research note on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 price target for the company. Finally, Barclays boosted their target price on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $416.52.

Home Depot Stock Performance

Shares of HD stock opened at $399.41 on Friday. The Home Depot, Inc. has a 12-month low of $286.79 and a 12-month high of $421.56. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. The firm has a market capitalization of $396.73 billion, a price-to-earnings ratio of 26.88, a price-to-earnings-growth ratio of 2.74 and a beta of 1.01. The business has a 50 day simple moving average of $393.80 and a 200 day simple moving average of $363.10.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.59 by $0.08. The company had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a return on equity of 733.61% and a net margin of 9.71%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.65 earnings per share. On average, equities research analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.25%. Home Depot’s dividend payout ratio (DPR) is 60.57%.

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.