Ballast Advisors LLC Acquires 33 Shares of The Home Depot, Inc. (NYSE:HD)

Ballast Advisors LLC raised its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 1.8% in the third quarter, HoldingsChannel reports. The firm owned 1,898 shares of the home improvement retailer’s stock after buying an additional 33 shares during the quarter. Ballast Advisors LLC’s holdings in Home Depot were worth $769,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fairway Wealth LLC purchased a new stake in shares of Home Depot in the 2nd quarter worth approximately $25,000. Kings Path Partners LLC purchased a new stake in shares of Home Depot in the 2nd quarter worth approximately $33,000. Livelsberger Financial Advisory purchased a new stake in Home Depot during the 3rd quarter valued at $46,000. Denver PWM LLC purchased a new stake in Home Depot during the 2nd quarter valued at $40,000. Finally, Abich Financial Wealth Management LLC boosted its stake in Home Depot by 68.0% during the 1st quarter. Abich Financial Wealth Management LLC now owns 126 shares of the home improvement retailer’s stock valued at $48,000 after purchasing an additional 51 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Home Depot Trading Down 2.8 %

Shares of HD traded down $11.09 during midday trading on Wednesday, hitting $389.00. The stock had a trading volume of 879,874 shares, compared to its average volume of 3,333,719. The Home Depot, Inc. has a fifty-two week low of $286.79 and a fifty-two week high of $421.56. The business has a 50-day simple moving average of $393.49 and a two-hundred day simple moving average of $362.92. The firm has a market cap of $386.39 billion, a P/E ratio of 26.93, a price-to-earnings-growth ratio of 2.72 and a beta of 1.01. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. The business had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 733.61%. Home Depot’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the company earned $4.65 earnings per share. As a group, equities analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were issued a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s payout ratio is 60.57%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Jefferies Financial Group assumed coverage on Home Depot in a report on Tuesday, July 16th. They set a “buy” rating and a $426.00 price target on the stock. Oppenheimer increased their price target on Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a report on Tuesday, September 24th. Barclays raised their target price on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday. Morgan Stanley boosted their price objective on Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Finally, Evercore ISI lowered their price objective on Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $415.26.

Home Depot Company 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.