Innova Wealth Partners Takes $405,000 Position in The Home Depot, Inc. (NYSE:HD)

Innova Wealth Partners acquired a new position in The Home Depot, Inc. (NYSE:HD) during the 4th quarter, HoldingsChannel reports. The fund acquired 1,042 shares of the home improvement retailer’s stock, valued at approximately $405,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lantz Financial LLC lifted its holdings in Home Depot by 1.5% in the second quarter. Lantz Financial LLC now owns 6,010 shares of the home improvement retailer’s stock valued at $2,069,000 after buying an additional 89 shares during the period. Quest Partners LLC acquired a new position in shares of Home Depot in the 2nd quarter valued at about $1,388,000. Lane & Associates LLC boosted its position in shares of Home Depot by 3.8% during the 2nd quarter. Lane & Associates LLC now owns 784 shares of the home improvement retailer’s stock valued at $270,000 after purchasing an additional 29 shares in the last quarter. LGT Fund Management Co Ltd. grew its stake in Home Depot by 255.4% during the second quarter. LGT Fund Management Co Ltd. now owns 20,010 shares of the home improvement retailer’s stock worth $6,888,000 after purchasing an additional 14,380 shares during the period. Finally, Invesco LLC increased its holdings in Home Depot by 1.3% in the second quarter. Invesco LLC now owns 3,906 shares of the home improvement retailer’s stock worth $1,345,000 after purchasing an additional 52 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Home Depot news, EVP Teresa Wynn Roseborough sold 22,084 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was 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 directly 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Timothy A. Hourigan sold 16,004 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $409.52, for a total value of $6,553,958.08. Following the transaction, the executive vice president now directly owns 77,475 shares in the company, valued at $31,727,562. This represents a 17.12 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,188 shares of company stock valued at $15,624,585. 0.10% of the stock is owned by insiders.

Home Depot Trading Down 1.3 %

Shares of HD stock opened at $384.28 on Wednesday. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. The company has a 50-day simple moving average of $406.45 and a two-hundred day simple moving average of $385.03. 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 company has a market capitalization of $381.73 billion, a price-to-earnings ratio of 26.11, a PEG ratio of 2.90 and a beta of 1.05.

Home Depot (NYSE:HD) last issued its quarterly 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. The company had revenue of $40.22 billion during the quarter, compared to the consensus estimate 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 was up 6.6% on a year-over-year basis. During the same period last year, the business posted $3.81 earnings per share. Research analysts anticipate that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot’s payout ratio is 61.14%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on HD shares. Evercore ISI increased their price target on Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Gordon Haskett raised shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price on the stock in a research note on Wednesday, October 2nd. Sanford C. Bernstein started coverage on shares of Home Depot in a report on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 price target for the company. Loop Capital upgraded shares of Home Depot from a “hold” rating to a “buy” rating and upped their price objective for the company from $360.00 to $460.00 in a report on Wednesday, October 9th. Finally, TD Cowen raised their target price on Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and an average target price of $426.00.

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.