Granite Harbor Advisors Inc. Has $1.52 Million Stake in The Home Depot, Inc. (NYSE:HD)

Granite Harbor Advisors Inc. reduced its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 1.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,902 shares of the home improvement retailer’s stock after selling 46 shares during the quarter. Home Depot makes up about 0.8% of Granite Harbor Advisors Inc.’s portfolio, making the stock its 26th biggest holding. Granite Harbor Advisors Inc.’s holdings in Home Depot were worth $1,518,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Synergy Asset Management LLC bought a new position in Home Depot during the fourth quarter worth $26,000. Legacy Investment Solutions LLC bought a new stake in shares of Home Depot during the 3rd quarter worth about $41,000. Sugar Maple Asset Management LLC acquired a new position in Home Depot in the 4th quarter valued at about $41,000. Livelsberger Financial Advisory bought a new position in Home Depot in the 3rd quarter valued at about $46,000. Finally, Quarry LP lifted its position in Home Depot by 36.0% during the second quarter. Quarry LP now owns 136 shares of the home improvement retailer’s stock worth $47,000 after acquiring an additional 36 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Trading Down 0.6 %

Home Depot stock opened at $411.86 on Friday. 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 Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. The stock has a market cap of $409.13 billion, a P/E ratio of 27.98, a PEG ratio of 4.35 and a beta of 1.05. The firm’s fifty day moving average price is $407.86 and its 200-day moving average price is $392.46.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $39.31 billion. During the same quarter in the previous year, the firm earned $3.81 earnings per share. Home Depot’s revenue was up 6.6% on a year-over-year basis. Equities research analysts forecast that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot’s payout ratio is currently 61.14%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. TD Cowen lifted their price target on Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Stifel Nicolaus boosted their target price on shares of Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Evercore ISI raised their price target on shares of Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Sanford C. Bernstein began coverage on shares of Home Depot in a report on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 price objective for the company. Finally, Loop Capital raised shares of Home Depot from a “hold” rating to a “buy” rating and raised their target price for the stock from $360.00 to $460.00 in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $426.00.

Insider Activity

In related news, EVP Teresa Wynn Roseborough sold 22,084 shares of the stock in a transaction dated Thursday, November 14th. The stock was 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 $8,343,399.64. This represents a 51.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Timothy A. Hourigan sold 16,004 shares of the business’s stock in a transaction that occurred 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 completion of the sale, 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 disclosure for this sale can be found here. In the last three months, insiders have sold 38,188 shares of company stock worth $15,624,585. 0.10% of the stock is currently owned by insiders.

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.