B&L Asset Management LLC Invests $725,000 in The Home Depot, Inc. (NYSE:HD)

B&L Asset Management LLC bought a new stake in The Home Depot, Inc. (NYSE:HD) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,790 shares of the home improvement retailer’s stock, valued at approximately $725,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Abacus Wealth Partners LLC grew its stake in Home Depot by 3.7% in the 3rd quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock valued at $285,000 after buying an additional 25 shares during the last quarter. Redhawk Wealth Advisors Inc. boosted its holdings in shares of Home Depot by 0.7% during the third quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock worth $1,469,000 after acquiring an additional 25 shares during the period. Capital City Trust Co. FL grew its position in shares of Home Depot by 1.1% in the third quarter. Capital City Trust Co. FL now owns 2,494 shares of the home improvement retailer’s stock valued at $1,011,000 after purchasing an additional 26 shares during the last quarter. Ruedi Wealth Management Inc. increased its stake in shares of Home Depot by 1.2% during the second quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock worth $817,000 after purchasing an additional 27 shares during the period. Finally, Acorn Creek Capital LLC lifted its holdings in Home Depot by 3.4% during the 2nd quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock worth $291,000 after purchasing an additional 28 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction dated Monday, November 18th. The stock was 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 directly owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. The trade was a 17.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the stock in a transaction dated Thursday, November 14th. The shares were 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 of the company’s stock, valued at approximately $8,343,399.64. The trade was a 51.98 % decrease in their position. 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. 0.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Stifel Nicolaus upped their price objective on Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a report on Monday, November 11th. Loop Capital raised shares of Home Depot from a “hold” rating to a “buy” rating and raised their price target for the stock from $360.00 to $460.00 in a research report on Wednesday, October 9th. Melius Research began coverage on shares of Home Depot in a research note on Monday, September 23rd. They issued a “buy” rating and a $420.00 price objective for the company. Telsey Advisory Group upgraded shares of Home Depot from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $360.00 to $455.00 in a research report on Friday, November 8th. Finally, Truist Financial lifted their price target on shares of Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. One equities 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’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Stock Up 0.5 %

Shares of HD opened at $429.13 on Friday. 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 Home Depot, Inc. has a 52 week low of $308.59 and a 52 week high of $439.37. The stock has a market capitalization of $426.28 billion, a price-to-earnings ratio of 29.15, a PEG ratio of 2.98 and a beta of 1.01. The stock has a fifty day moving average of $407.48 and a 200-day moving average of $372.03.

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

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Wednesday, November 27th. Home Depot’s payout ratio is 61.14%.

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.