Canvas Wealth Advisors LLC Lowers Position in The Home Depot, Inc. (NYSE:HD)

Canvas Wealth Advisors LLC reduced its stake in The Home Depot, Inc. (NYSE:HD) by 6.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,039 shares of the home improvement retailer’s stock after selling 67 shares during the quarter. Canvas Wealth Advisors LLC’s holdings in Home Depot were worth $370,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of HD. Harvest Investment Advisors LLC lifted its stake in shares of Home Depot by 0.8% in the 3rd quarter. Harvest Investment Advisors LLC now owns 3,815 shares of the home improvement retailer’s stock valued at $1,153,000 after purchasing an additional 30 shares during the period. Armstrong Henry H Associates Inc. increased its position in Home Depot by 0.3% during the 4th quarter. Armstrong Henry H Associates Inc. now owns 10,903 shares of the home improvement retailer’s stock valued at $3,778,000 after buying an additional 30 shares in the last quarter. CGC Financial Services LLC increased its position in Home Depot by 4.3% during the 4th quarter. CGC Financial Services LLC now owns 722 shares of the home improvement retailer’s stock valued at $250,000 after buying an additional 30 shares in the last quarter. Independent Investors Inc. increased its position in Home Depot by 0.5% during the 4th quarter. Independent Investors Inc. now owns 6,052 shares of the home improvement retailer’s stock valued at $2,097,000 after buying an additional 30 shares in the last quarter. Finally, CCG Wealth Management LLC increased its position in Home Depot by 1.7% during the 3rd quarter. CCG Wealth Management LLC now owns 1,977 shares of the home improvement retailer’s stock valued at $597,000 after buying an additional 34 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Home Depot

In related news, EVP Timothy A. Hourigan sold 8,996 shares of Home Depot stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the transaction, the executive vice president now directly owns 75,799 shares in the company, valued at $27,950,123.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Timothy A. Hourigan sold 8,996 shares of the business’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 transaction, the executive vice president now directly owns 75,799 shares in the company, valued at $27,950,123.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the transaction, the chief executive officer now owns 107,731 shares in the company, valued at $39,712,878.53. The disclosure for this sale can be found here. 0.19% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on HD shares. Telsey Advisory Group raised their price objective on Home Depot from $325.00 to $335.00 and gave the company a “market perform” rating in a research report on Thursday, February 15th. Mizuho started coverage on Home Depot in a research report on Tuesday, March 19th. They set a “buy” rating and a $415.00 price objective for the company. Wells Fargo & Company raised their price objective on Home Depot from $385.00 to $400.00 and gave the company an “overweight” rating in a research report on Tuesday, February 13th. TD Cowen lifted their target price on Home Depot from $415.00 to $440.00 and gave the stock an “outperform” rating in a report on Monday, March 4th. Finally, Barclays raised Home Depot from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $325.00 to $372.00 in a report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $368.76.

Home Depot Stock Performance

Shares of HD stock traded up $3.78 on Wednesday, reaching $383.71. The stock had a trading volume of 328,057 shares, compared to its average volume of 3,121,700. The stock has a market cap of $380.26 billion, a P/E ratio of 25.17, a price-to-earnings-growth ratio of 2.53 and a beta of 0.99. The company has a debt-to-equity ratio of 40.94, a quick ratio of 0.40 and a current ratio of 1.35. The company has a 50 day simple moving average of $367.43 and a 200 day simple moving average of $333.82. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $396.87.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.05. The company had revenue of $34.79 billion for the quarter, compared to the consensus estimate of $34.64 billion. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. Home Depot’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $3.30 earnings per share. Equities research analysts expect that The Home Depot, Inc. will post 15.39 EPS for the current year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were given a dividend of $2.25 per share. The ex-dividend date was Wednesday, March 6th. This is an increase from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 annualized dividend and a yield of 2.35%. Home Depot’s payout ratio is 59.60%.

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.