Fort Pitt Capital Group LLC Decreases Stake in The Home Depot, Inc. (NYSE:HD)

Fort Pitt Capital Group LLC decreased its holdings in The Home Depot, Inc. (NYSE:HD) by 1.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,789 shares of the home improvement retailer’s stock after selling 50 shares during the period. Fort Pitt Capital Group LLC’s holdings in Home Depot were worth $1,130,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Abacus Wealth Partners LLC grew its stake in Home Depot by 3.7% during the 3rd quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock valued at $285,000 after acquiring an additional 25 shares in the last quarter. Redhawk Wealth Advisors Inc. grew its holdings in Home Depot by 0.7% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock valued at $1,469,000 after buying an additional 25 shares in the last quarter. Ruedi Wealth Management Inc. increased its stake 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 worth $817,000 after acquiring an additional 27 shares during the last quarter. Acorn Creek Capital LLC increased its position in Home Depot by 3.4% during the second quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock worth $291,000 after purchasing an additional 28 shares during the last quarter. Finally, Consolidated Portfolio Review Corp raised its stake in Home Depot by 1.9% during the third quarter. Consolidated Portfolio Review Corp now owns 1,524 shares of the home improvement retailer’s stock worth $617,000 after purchasing an additional 28 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Jefferies Financial Group initiated coverage on shares of Home Depot in a report on Tuesday, July 16th. They set a “buy” rating and a $426.00 price target for the company. Melius Research started coverage on Home Depot in a research note on Monday, September 23rd. They issued a “buy” rating and a $420.00 price target on the stock. Guggenheim increased their price target on Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Loop Capital upgraded shares of Home Depot from a “hold” rating to a “buy” rating and boosted their price objective for the company from $360.00 to $460.00 in a report on Wednesday, October 9th. Finally, Royal Bank of Canada decreased their price objective on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $413.48.

Home Depot Stock Performance

Shares of Home Depot stock opened at $392.59 on Monday. The Home Depot, Inc. has a 12 month low of $286.79 and a 12 month high of $421.56. The stock has a market cap of $389.96 billion, a PE ratio of 26.42, a price-to-earnings-growth ratio of 2.73 and a beta of 1.01. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74. The business has a fifty day simple moving average of $392.51 and a 200-day simple moving average of $362.03.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. The firm 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 681.27% and a net margin of 9.71%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the firm earned $4.65 earnings per share. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio is 60.57%.

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.