Pax World Management LLC increased its stake in Home Depot Inc (NYSE:HD) by 8.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,266 shares of the home improvement retailer’s stock after purchasing an additional 800 shares during the period. Pax World Management LLC’s holdings in Home Depot were worth $1,679,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Brown Advisory Securities LLC lifted its stake in Home Depot by 12.0% during the 3rd quarter. Brown Advisory Securities LLC now owns 12,085 shares of the home improvement retailer’s stock valued at $1,974,000 after acquiring an additional 1,298 shares during the period. Cincinnati Financial Corp lifted its stake in Home Depot by 4.6% during the 3rd quarter. Cincinnati Financial Corp now owns 308,054 shares of the home improvement retailer’s stock valued at $50,385,000 after acquiring an additional 13,500 shares during the period. Breton Hill Capital Ltd. acquired a new stake in Home Depot during the 3rd quarter valued at approximately $221,000. Goodman Financial Corp lifted its stake in Home Depot by 2.8% during the 3rd quarter. Goodman Financial Corp now owns 53,430 shares of the home improvement retailer’s stock valued at $8,739,000 after acquiring an additional 1,478 shares during the period. Finally, GHP Investment Advisors Inc. lifted its stake in Home Depot by 22.5% during the 3rd quarter. GHP Investment Advisors Inc. now owns 5,720 shares of the home improvement retailer’s stock valued at $936,000 after acquiring an additional 1,050 shares during the period. Institutional investors own 70.18% of the company’s stock.
In related news, EVP Matt Carey sold 41,396 shares of the business’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $183.03, for a total value of $7,576,709.88. Following the completion of the sale, the executive vice president now owns 29,559 shares of the company’s stock, valued at approximately $5,410,183.77. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.26% of the stock is currently owned by insiders.
HD has been the subject of several research reports. Royal Bank of Canada set a $179.00 price objective on shares of Home Depot and gave the company a “buy” rating in a research note on Monday, October 30th. Citigroup lifted their price objective on shares of Home Depot from $179.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday, November 16th. Credit Suisse Group set a $171.00 price objective on shares of Home Depot and gave the company a “buy” rating in a research note on Friday, October 13th. Bank of America lifted their price objective on shares of Home Depot from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. Finally, KeyCorp started coverage on shares of Home Depot in a research note on Tuesday, November 7th. They issued a “sector weight” rating for the company. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Home Depot presently has an average rating of “Buy” and a consensus price target of $184.39.
Shares of Home Depot Inc (NYSE HD) opened at $201.33 on Friday. The company has a market cap of $235,102.91, a price-to-earnings ratio of 27.96, a P/E/G ratio of 1.87 and a beta of 1.11. The company has a quick ratio of 0.39, a current ratio of 1.23 and a debt-to-equity ratio of 9.54. Home Depot Inc has a 1-year low of $134.60 and a 1-year high of $201.33.
Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, November 14th. The home improvement retailer reported $1.84 EPS for the quarter, topping the consensus estimate of $1.81 by $0.03. The company had revenue of $25.03 billion during the quarter, compared to analyst estimates of $24.53 billion. Home Depot had a net margin of 8.66% and a return on equity of 238.88%. The firm’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.60 EPS. analysts expect that Home Depot Inc will post 7.39 earnings per share for the current year.
Home Depot announced that its board has initiated a share buyback program on Wednesday, December 6th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the home improvement retailer to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
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About Home Depot
The Home Depot, Inc (The Home Depot) is a home improvement retailer. The Company sells an assortment of building materials, home improvement products, and lawn and garden products, and provides various services. The Home Depot stores serves three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.
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