Parallel Advisors LLC Reduces Stake in Home Depot Inc (NYSE:HD)

Parallel Advisors LLC reduced its position in Home Depot Inc (NYSE:HD) by 0.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,225 shares of the home improvement retailer’s stock after selling 130 shares during the period. Parallel Advisors LLC’s holdings in Home Depot were worth $5,617,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Price Wealth LLC grew its holdings in Home Depot by 138.5% during the 2nd quarter. Price Wealth LLC now owns 124 shares of the home improvement retailer’s stock valued at $31,000 after buying an additional 72 shares during the last quarter. Selective Wealth Management Inc. grew its holdings in Home Depot by 243.9% during the 2nd quarter. Selective Wealth Management Inc. now owns 141 shares of the home improvement retailer’s stock valued at $35,000 after buying an additional 100 shares during the last quarter. Evolution Wealth Advisors LLC grew its holdings in Home Depot by 138.8% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 191 shares of the home improvement retailer’s stock valued at $48,000 after buying an additional 111 shares during the last quarter. JJJ Advisors Inc. grew its holdings in Home Depot by 201.6% during the 3rd quarter. JJJ Advisors Inc. now owns 184 shares of the home improvement retailer’s stock valued at $51,000 after buying an additional 123 shares during the last quarter. Finally, First Bank & Trust grew its holdings in Home Depot by 34.0% during the 3rd quarter. First Bank & Trust now owns 197 shares of the home improvement retailer’s stock valued at $55,000 after buying an additional 50 shares during the last quarter. 69.00% of the stock is owned by hedge funds and other institutional investors.

In related news, EVP Matt Carey sold 50,478 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $276.43, for a total transaction of $13,953,633.54. Following the sale, the executive vice president now owns 62,735 shares of the company’s stock, valued at $17,341,836.05. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Teresa Wynn Roseborough sold 41,947 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $279.83, for a total value of $11,738,029.01. Over the last quarter, insiders have sold 119,304 shares of company stock valued at $32,088,591. Insiders own 0.26% of the company’s stock.

Several research firms have recently issued reports on HD. Argus raised their price objective on Home Depot from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Wednesday, August 19th. Oppenheimer cut Home Depot from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $320.00 to $305.00 in a report on Friday, September 18th. The Goldman Sachs Group raised their price objective on Home Depot from $265.00 to $301.00 and gave the stock a “buy” rating in a report on Tuesday, August 18th. Telsey Advisory Group raised their price objective on Home Depot from $290.00 to $300.00 and gave the stock a “market perform” rating in a report on Wednesday, August 19th. Finally, BNP Paribas began coverage on Home Depot in a report on Monday, October 5th. They set an “outperform” rating and a $310.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $288.13.

Shares of NYSE HD traded down $3.42 during midday trading on Friday, hitting $266.21. 108,179 shares of the company’s stock were exchanged, compared to its average volume of 4,863,501. The stock’s 50 day moving average price is $279.18 and its 200-day moving average price is $257.36. The firm has a market cap of $290.24 billion, a P/E ratio of 24.71, a PEG ratio of 2.36 and a beta of 1.09. Home Depot Inc has a twelve month low of $140.63 and a twelve month high of $292.95.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, August 18th. The home improvement retailer reported $4.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.20 by $0.82. The business had revenue of $38.05 billion during the quarter, compared to the consensus estimate of $32.13 billion. Home Depot had a negative return on equity of 583.91% and a net margin of 9.91%. The business’s revenue was up 23.4% on a year-over-year basis. During the same period in the previous year, the firm posted $3.17 earnings per share. As a group, equities research analysts predict that Home Depot Inc will post 11.41 earnings per share for the current fiscal year.

Home Depot 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 d├ęcor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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