Providence Capital Advisors LLC Increases Holdings in The Home Depot, Inc. (NYSE:HD)

Providence Capital Advisors LLC raised its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 0.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,574 shares of the home improvement retailer’s stock after buying an additional 178 shares during the quarter. Home Depot comprises about 1.7% of Providence Capital Advisors LLC’s holdings, making the stock its 11th largest position. Providence Capital Advisors LLC’s holdings in Home Depot were worth $8,742,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. International Assets Investment Management LLC lifted its stake in 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 worth $35,575,880,000 after purchasing an additional 8,762,735 shares during the last quarter. Wulff Hansen & CO. raised its position in Home Depot by 33,540.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock valued at $509,081,000 after purchasing an additional 1,474,459 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Home Depot during the 3rd quarter valued at approximately $336,231,000. FMR LLC raised its position in Home Depot by 10.1% during the 3rd quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after purchasing an additional 795,438 shares during the last quarter. Finally, Sarasin & Partners LLP raised its position in Home Depot by 95.2% during the 2nd quarter. Sarasin & Partners LLP now owns 1,139,934 shares of the home improvement retailer’s stock valued at $392,411,000 after purchasing an additional 556,053 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HD has been the topic of a number of research analyst reports. Melius Research initiated coverage on Home Depot in a report on Monday, September 23rd. They set a “buy” rating and a $420.00 target price on the stock. Gordon Haskett upgraded 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. Telsey Advisory Group upgraded Home Depot from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $360.00 to $455.00 in a research note on Friday, November 8th. Evercore ISI upped their price target on Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Sanford C. Bernstein initiated coverage on Home Depot in a research note on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus price target of $426.00.

Insider Activity

In other Home Depot news, EVP Teresa Wynn Roseborough sold 22,084 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now owns 20,404 shares of the company’s stock, valued at $8,343,399.64. This trade represents a 51.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Timothy A. Hourigan sold 16,004 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. The trade was a 17.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,188 shares of company stock worth $15,624,585 over the last 90 days. Corporate insiders own 0.10% of the company’s stock.

Home Depot Price Performance

Shares of Home Depot stock opened at $427.32 on Thursday. The Home Depot, Inc. has a one year low of $308.59 and a one year high of $439.37. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The stock has a market cap of $424.48 billion, a P/E ratio of 29.03, a P/E/G ratio of 2.98 and a beta of 1.01. The stock’s fifty day moving average is $405.95 and its 200 day moving average is $370.81.

Home Depot (NYSE:HD) last issued its quarterly 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. The business had revenue of $40.22 billion during the quarter, compared to analyst estimates of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. Home Depot’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.81 EPS. Sell-side analysts anticipate that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be given a dividend of $2.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.11%. Home Depot’s payout ratio is 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.