Prospector Partners LLC Increases Stock Position in The Home Depot, Inc. (NYSE:HD)

Prospector Partners LLC grew its position in The Home Depot, Inc. (NYSE:HD) by 0.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,499 shares of the home improvement retailer’s stock after buying an additional 130 shares during the quarter. Home Depot accounts for 1.4% of Prospector Partners LLC’s holdings, making the stock its 29th largest holding. Prospector Partners LLC’s holdings in Home Depot were worth $13,169,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Fairway Wealth LLC purchased a new stake in shares of Home Depot during the second quarter worth $25,000. Kings Path Partners LLC purchased a new stake in shares of Home Depot in the 2nd quarter valued at approximately $33,000. Denver PWM LLC acquired a new stake in shares of Home Depot in the 2nd quarter valued at $40,000. Livelsberger Financial Advisory purchased a new stake in shares of Home Depot during the 3rd quarter worth $46,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Home Depot during the second quarter worth $47,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction on Monday, November 18th. The stock was sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the completion of the transaction, the executive vice president now owns 77,475 shares of the company’s stock, valued at $31,727,562. The trade was a 17.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the 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 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 three months, insiders sold 38,188 shares of company stock worth $15,624,585. Company insiders own 0.10% of the company’s stock.

Home Depot Stock Up 2.1 %

HD opened at $428.67 on Tuesday. 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 Home Depot, Inc. has a 12 month low of $308.59 and a 12 month high of $430.25. The stock has a market capitalization of $425.82 billion, a P/E ratio of 29.12, a P/E/G ratio of 2.92 and a beta of 1.01. The business has a 50 day simple moving average of $404.17 and a 200-day simple moving average of $369.82.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating 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 company had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. During the same quarter last year, the company earned $3.81 earnings per share. Home Depot’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, equities analysts anticipate that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal 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 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 dividend payout ratio (DPR) is presently 61.14%.

Wall Street Analyst Weigh In

HD has been the topic of a number of analyst reports. Evercore ISI raised their price target on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Gordon Haskett raised Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price on the stock in a research report on Wednesday, October 2nd. Royal Bank of Canada upped their price target on Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a report on Monday, November 11th. Telsey Advisory Group raised shares of Home Depot from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $360.00 to $455.00 in a report on Friday, November 8th. Finally, TD Cowen boosted 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. One 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 data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $426.00.

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.