Manitou Investment Management Ltd. bought a new stake in Home Depot Inc (NYSE:HD) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 44,710 shares of the home improvement retailer’s stock, valued at approximately $8,348,000. Home Depot comprises about 2.5% of Manitou Investment Management Ltd.’s holdings, making the stock its 16th biggest holding.
Other institutional investors have also recently made changes to their positions in the company. IndexIQ Advisors LLC bought a new position in Home Depot in the fourth quarter valued at approximately $83,000. Aviance Capital Partners LLC grew its stake in Home Depot by 3.0% in the fourth quarter. Aviance Capital Partners LLC now owns 3,996 shares of the home improvement retailer’s stock valued at $873,000 after purchasing an additional 118 shares in the last quarter. Solstein Capital LLC bought a new position in Home Depot in the fourth quarter valued at approximately $140,000. Pettee Investors Inc. grew its stake in Home Depot by 2.8% in the fourth quarter. Pettee Investors Inc. now owns 10,927 shares of the home improvement retailer’s stock valued at $2,386,000 after purchasing an additional 300 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC bought a new position in Home Depot in the first quarter valued at approximately $153,000. 70.78% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have weighed in on the company. Jefferies Financial Group decreased their price target on Home Depot from $233.00 to $228.00 in a research note on Wednesday, April 1st. Credit Suisse Group reduced their target price on Home Depot from $255.00 to $215.00 and set an “outperform” rating for the company in a research note on Wednesday, April 1st. Cfra upgraded Home Depot from a “hold” rating to a “strong-buy” rating and set a $255.00 target price for the company in a research note on Wednesday, March 11th. Telsey Advisory Group lifted their target price on Home Depot from $230.00 to $244.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 26th. Finally, Nomura Securities lifted their target price on Home Depot from $204.00 to $215.00 and gave the stock a “buy” rating in a research note on Wednesday, April 1st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $239.20.
Shares of NYSE HD opened at $218.57 on Friday. The stock has a market capitalization of $236.12 billion, a PE ratio of 21.32, a P/E/G ratio of 2.03 and a beta of 1.04. The business has a fifty day moving average price of $193.20 and a two-hundred day moving average price of $219.77. Home Depot Inc has a fifty-two week low of $140.63 and a fifty-two week high of $247.36.
Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $2.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.11 by $0.17. The firm had revenue of $25.78 billion during the quarter, compared to analysts’ expectations of $25.78 billion. Home Depot had a negative return on equity of 599.49% and a net margin of 10.20%. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.25 EPS. As a group, equities research analysts expect that Home Depot Inc will post 9.86 earnings per share for the current fiscal year.
In other Home Depot news, EVP William G. Lennie sold 9,848 shares of Home Depot stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $234.34, for a total value of $2,307,780.32. Following the completion of the transaction, the executive vice president now directly owns 37,995 shares of the company’s stock, valued at approximately $8,903,748.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is owned by insiders.
Home Depot Company Profile
The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
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