Providence Capital Advisors LLC Grows Stake in The Home Depot, Inc. (NYSE:HD)

Providence Capital Advisors LLC increased its stake in shares of The Home Depot, Inc. (NYSE:HD) by 0.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,574 shares of the home improvement retailer’s stock after buying an additional 178 shares during the quarter. Home Depot comprises approximately 1.7% of Providence Capital Advisors LLC’s investment portfolio, making the stock its 11th biggest holding. Providence Capital Advisors LLC’s holdings in Home Depot were worth $8,742,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in HD. Fairway Wealth LLC purchased a new stake in shares of Home Depot during the 2nd quarter worth about $25,000. Kings Path Partners LLC acquired a new stake in shares of Home Depot during the 2nd quarter worth approximately $33,000. Denver PWM LLC acquired a new stake in shares of Home Depot during the 2nd quarter worth approximately $40,000. Livelsberger Financial Advisory acquired a new stake in Home Depot in the 3rd quarter valued at approximately $46,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Home Depot in the 2nd quarter valued at approximately $47,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Timothy A. Hourigan sold 16,004 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the transaction, the executive vice president now owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. The trade was a 17.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Ann Marie Campbell sold 100 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total transaction of $40,258.00. Following the transaction, the executive vice president now directly owns 12,465 shares in the company, valued at $5,018,159.70. This trade represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,188 shares of company stock valued at $15,624,585 over the last 90 days. 0.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on HD shares. Sanford C. Bernstein assumed coverage on shares of Home Depot in a report on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 target price for the company. Truist Financial lifted their price objective on shares of Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Bank of America lifted their price objective on shares of Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Loop Capital raised shares of Home Depot from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $360.00 to $460.00 in a research report on Wednesday, October 9th. Finally, Evercore ISI lifted their price objective 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. 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Stock Performance

HD stock opened at $427.32 on Thursday. 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 stock has a market cap of $424.48 billion, a P/E ratio of 29.03, a P/E/G ratio of 2.98 and a beta of 1.01. The firm has a 50 day simple moving average of $405.95 and a 200 day simple moving average of $370.81. The Home Depot, Inc. has a 52 week low of $308.59 and a 52 week high of $439.37.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.64 by $0.14. The firm had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company’s revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company earned $3.81 earnings per share. Research analysts anticipate 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 declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Wednesday, November 27th. Home Depot’s dividend payout ratio is 61.14%.

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.