The Home Depot, Inc. (NYSE:HD) Shares Sold by Covington Investment Advisors Inc.

Covington Investment Advisors Inc. trimmed its position in shares of The Home Depot, Inc. (NYSE:HD) by 10.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 29,934 shares of the home improvement retailer’s stock after selling 3,531 shares during the quarter. Home Depot makes up 1.0% of Covington Investment Advisors Inc.’s portfolio, making the stock its 21st biggest holding. Covington Investment Advisors Inc.’s holdings in Home Depot were worth $11,644,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Providence Capital Advisors LLC raised its stake in Home Depot by 1.2% in the 4th quarter. Providence Capital Advisors LLC now owns 21,843 shares of the home improvement retailer’s stock valued at $8,497,000 after purchasing an additional 269 shares during the last quarter. Norges Bank acquired a new stake in Home Depot during the fourth quarter worth approximately $5,032,910,000. Caisse Des Depots ET Consignations purchased a new stake in Home Depot in the 4th quarter worth approximately $9,247,000. Blair William & Co. IL lifted its stake in shares of Home Depot by 0.4% during the 4th quarter. Blair William & Co. IL now owns 755,641 shares of the home improvement retailer’s stock worth $293,937,000 after purchasing an additional 2,716 shares during the period. Finally, LM Advisors LLC boosted its holdings in shares of Home Depot by 111.6% during the fourth quarter. LM Advisors LLC now owns 5,095 shares of the home improvement retailer’s stock worth $1,982,000 after purchasing an additional 2,687 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HD. Telsey Advisory Group reiterated an “outperform” rating and set a $455.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Guggenheim reissued a “buy” rating and issued a $450.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Wells Fargo & Company upped their price target on shares of Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Hsbc Global Res raised shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Finally, Wedbush restated an “outperform” rating and set a $440.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $435.85.

Home Depot Stock Performance

NYSE HD opened at $362.96 on Friday. The firm has a market cap of $360.55 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. The company has a 50 day moving average of $391.01 and a 200-day moving average of $398.65. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. The business had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.82 earnings per share. On average, equities analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a dividend of $2.30 per share. The ex-dividend date was Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.53%. Home Depot’s dividend payout ratio (DPR) is 61.66%.

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.