Summit Financial LLC Increases Stake in The Home Depot, Inc. (NYSE:HD)

Summit Financial LLC boosted its stake in shares of The Home Depot, Inc. (NYSE:HD) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,441 shares of the home improvement retailer’s stock after purchasing an additional 212 shares during the quarter. Summit Financial LLC’s holdings in Home Depot were worth $3,965,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in HD. Great Valley Advisor Group Inc. boosted its holdings in Home Depot by 2.7% in the fourth quarter. Great Valley Advisor Group Inc. now owns 35,431 shares of the home improvement retailer’s stock worth $12,279,000 after acquiring an additional 921 shares in the last quarter. Y.D. More Investments Ltd raised its stake in shares of Home Depot by 78.6% in the fourth quarter. Y.D. More Investments Ltd now owns 766 shares of the home improvement retailer’s stock worth $265,000 after purchasing an additional 337 shares during the last quarter. RB Capital Management LLC raised its stake in shares of Home Depot by 4.0% in the fourth quarter. RB Capital Management LLC now owns 9,112 shares of the home improvement retailer’s stock worth $3,158,000 after purchasing an additional 354 shares during the last quarter. Howe & Rusling Inc. raised its stake in shares of Home Depot by 21.3% in the fourth quarter. Howe & Rusling Inc. now owns 2,730 shares of the home improvement retailer’s stock worth $946,000 after purchasing an additional 479 shares during the last quarter. Finally, Orion Capital Management LLC raised its stake in shares of Home Depot by 41.9% in the fourth quarter. Orion Capital Management LLC now owns 2,169 shares of the home improvement retailer’s stock worth $752,000 after purchasing an additional 640 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Mizuho assumed coverage on Home Depot in a research report on Tuesday, March 19th. They set a “buy” rating and a $415.00 price target for the company. Zelman & Associates upgraded Home Depot from a “neutral” rating to an “outperform” rating in a research report on Tuesday, April 2nd. Bank of America lifted their price target on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Monday, April 1st. StockNews.com upgraded Home Depot from a “hold” rating to a “buy” rating in a research report on Wednesday, April 24th. Finally, Oppenheimer cut Home Depot from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $375.96.

Home Depot Trading Down 0.7 %

NYSE HD traded down $2.25 on Wednesday, reaching $331.97. 3,184,581 shares of the company were exchanged, compared to its average volume of 3,340,787. The business’s fifty day moving average price is $363.69 and its 200 day moving average price is $341.88. The stock has a market capitalization of $328.99 billion, a P/E ratio of 21.91, a price-to-earnings-growth ratio of 2.24 and a beta of 0.98. The company has a current ratio of 1.35, a quick ratio of 0.40 and a debt-to-equity ratio of 40.94. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $396.87.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.05. The company had revenue of $34.79 billion for the quarter, compared to analyst estimates of $34.64 billion. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.30 earnings per share. Analysts forecast that The Home Depot, Inc. will post 15.37 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.71%. The ex-dividend date was Wednesday, March 6th. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s dividend payout ratio is 59.60%.

Insider Activity

In other news, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the transaction, the chief executive officer now owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the sale, the chief executive officer now owns 107,731 shares in the company, valued at approximately $39,712,878.53. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Timothy A. Hourigan sold 8,996 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total value of $3,317,185.04. Following the sale, the executive vice president now owns 75,799 shares in the company, valued at approximately $27,950,123.26. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Home Depot Profile

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.