CenterBook Partners LP Makes New Investment in The Home Depot, Inc. $HD

Key Points

• CenterBook Partners opened a new Home Depot position in the third quarter, buying 32,542 shares valued at approximately $9.26 million. Institutional investors collectively own 70.86% of the company.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $375.31; recent targets ranged from $377 to $425.
• Home Depot beat quarterly earnings and revenue expectations, reporting $4.92 per share and $47.86 billion in revenue, with revenue up 5.7% year over year.

CenterBook Partners LP bought a new position in The Home Depot, Inc. (NYSE:HD - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 32,542 shares of the home improvement retailer's stock, valued at approximately $9,258,000.

Other institutional investors have also recently made changes to their positions in the company. Asset One Wealth Management LLC boosted its position in Home Depot by 7.3% in the third quarter. Asset One Wealth Management LLC now owns 17,089 shares of the home improvement retailer's stock worth $4,862,000 after purchasing an additional 1,157 shares during the last quarter. Allegiance Financial Group Advisory Services LLC grew its stake in Home Depot by 11.4% in the 3rd quarter. Allegiance Financial Group Advisory Services LLC now owns 1,751 shares of the home improvement retailer's stock valued at $498,000 after purchasing an additional 179 shares during the period. Calamos Advisors LLC increased its position in shares of Home Depot by 1.6% during the 3rd quarter. Calamos Advisors LLC now owns 268,336 shares of the home improvement retailer's stock valued at $76,339,000 after purchasing an additional 4,249 shares during the last quarter. Alta Advisers Ltd increased its position in shares of Home Depot by 83.7% during the 3rd quarter. Alta Advisers Ltd now owns 7,130 shares of the home improvement retailer's stock valued at $2,028,000 after purchasing an additional 3,249 shares during the last quarter. Finally, Principle Wealth Partners LLC increased its position in shares of Home Depot by 0.9% during the 3rd quarter. Principle Wealth Partners LLC now owns 41,658 shares of the home improvement retailer's stock valued at $11,851,000 after purchasing an additional 360 shares during the last quarter. Institutional investors own 70.86% of the company's stock.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Teresa Roseborough sold 2,455 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $328.77, for a total transaction of $807,130.35. Following the completion of the transaction, the executive vice president owned 14,061 shares in the company, valued at $4,622,834.97. This trade represents a 14.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Richard McPhail sold 5,989 shares of Home Depot stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $348.40, for a total transaction of $2,086,567.60. Following the completion of the transaction, the chief financial officer owned 48,104 shares of the company's stock, valued at $16,759,433.60. The trade was a 11.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 9,829 shares of company stock worth $3,339,314 over the last ninety days. Company insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on HD shares. Jefferies Financial Group reiterated a "buy" rating and set a $398.00 target price on shares of Home Depot in a research note on Tuesday, August 18th. KeyCorp restated a "sector weight" rating on shares of Home Depot in a research report on Wednesday, August 19th. Wells Fargo & Company raised their price objective on shares of Home Depot from $360.00 to $400.00 and gave the stock an "overweight" rating in a report on Tuesday, August 11th. DA Davidson reaffirmed a "buy" rating and issued a $377.00 price objective on shares of Home Depot in a research report on Wednesday, August 19th. Finally, Guggenheim reiterated a "buy" rating and issued a $425.00 target price on shares of Home Depot in a research note on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $375.31.

Home Depot Stock Performance

Shares of HD traded down $6.46 during mid-day trading on Friday, hitting $343.48. The stock had a trading volume of 5,519,119 shares, compared to its average volume of 4,736,680. The Home Depot, Inc. has a 52 week low of $277.15 and a 52 week high of $397.63. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.08 and a quick ratio of 0.31. The business has a fifty day moving average price of $309.42 and a 200-day moving average price of $334.08. The firm has a market cap of $342.69 billion, a P/E ratio of 24.04, a PEG ratio of 2.43 and a beta of 0.93.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings results on Tuesday, August 18th. The home improvement retailer reported $4.92 earnings per share for the quarter, topping the consensus estimate of $4.73 by $0.19. Home Depot had a return on equity of 106.42% and a net margin of 8.41%. The company had revenue of $47.86 billion during the quarter, compared to the consensus estimate of $47.24 billion. During the same quarter in the prior year, the company earned $4.68 EPS. The firm's quarterly revenue was up 5.7% compared to the same quarter last year. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. On average, equities research analysts expect that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 17th. Shareholders of record on Thursday, September 3rd were given a dividend of $2.33 per share. This represents a $9.32 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Thursday, September 3rd. Home Depot's dividend payout ratio (DPR) is currently 65.22%.

Home Depot Company Profile

The Home Depot, Inc is a home improvement retailer serving do-it-yourself customers, professional contractors and other businesses. The company sells building materials, tools, hardware, appliances, paint, flooring, and products for home maintenance, repair and renovation, as well as lawn and garden supplies.

In addition to its retail stores and online channels, Home Depot offers services such as product delivery, equipment rental and home improvement installation. The company was founded in 1978 and is headquartered in Atlanta, Georgia.

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