Westmount Partners LLC Raises Position in The Home Depot, Inc. (NYSE:HD)

Westmount Partners LLC raised its stake in The Home Depot, Inc. (NYSE:HD) by 0.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,214 shares of the home improvement retailer’s stock after purchasing an additional 46 shares during the quarter. Home Depot accounts for about 1.0% of Westmount Partners LLC’s portfolio, making the stock its 20th biggest position. Westmount Partners LLC’s holdings in Home Depot were worth $3,195,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Federated Hermes Inc. increased its position in Home Depot by 15.6% in the second quarter. Federated Hermes Inc. now owns 105,079 shares of the home improvement retailer’s stock worth $36,172,000 after buying an additional 14,190 shares during the last quarter. Inspire Advisors LLC purchased a new stake in Home Depot in the second quarter worth $372,000. Lyell Wealth Management LP increased its position in Home Depot by 2.8% in the second quarter. Lyell Wealth Management LP now owns 42,771 shares of the home improvement retailer’s stock worth $14,723,000 after buying an additional 1,167 shares during the last quarter. Williams Financial LLC purchased a new stake in Home Depot in the second quarter worth $6,791,000. Finally, Diversify Wealth Management LLC purchased a new stake in Home Depot in the second quarter worth $4,736,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on HD shares. Sanford C. Bernstein started coverage on Home Depot in a report on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 price target for the company. Melius Research started coverage on Home Depot in a report on Monday, September 23rd. They issued a “buy” rating and a $420.00 price target for the company. Mizuho raised their price target on Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Morgan Stanley raised their price target on Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Finally, TD Cowen raised their price target on Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a report on Monday, October 28th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $426.00.

Home Depot Stock Down 0.4 %

HD stock traded down $1.67 during midday trading on Monday, hitting $388.22. The company’s stock had a trading volume of 2,013,549 shares, compared to its average volume of 2,901,823. The company has a market cap of $385.64 billion, a PE ratio of 26.37, a P/E/G ratio of 2.90 and a beta of 1.05. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The firm’s 50-day moving average is $406.15 and its 200-day moving average is $385.97.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.64 by $0.14. The business had revenue of $40.22 billion for the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the firm posted $3.81 EPS. On average, equities research analysts forecast that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were paid a dividend of $2.25 per share. The ex-dividend date was Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a yield of 2.32%. Home Depot’s dividend payout ratio is presently 61.14%.

Insider Buying and Selling at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 22,084 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the completion of the sale, the executive vice president now directly owns 20,404 shares in the company, valued at $8,343,399.64. This represents a 51.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Ann Marie Campbell sold 100 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total value of $40,258.00. Following the completion of the sale, the executive vice president now owns 12,465 shares of the company’s stock, valued at $5,018,159.70. This trade represents a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,188 shares of company stock worth $15,624,585. Insiders own 0.10% of the company’s stock.

About Home Depot

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.