Investment Counsel Co. of Nevada Purchases New Position in The Home Depot, Inc. (NYSE:HD)

Key Points

• Investment Counsel Co. of Nevada has purchased a new position in The Home Depot, acquiring 1,819 shares valued at approximately $667,000, making it the 13th largest stake in their portfolio.
• Home Depot recently missed analysts' earnings estimates with a reported $3.56 earnings per share compared to the expected $3.59, while also reporting a revenue increase of 9.4% year over year.
• The company has announced a quarterly dividend of $2.30 per share, reflecting an annualized dividend of $9.20 and a yield of 2.4%, with a payout ratio of 62.42%.

Investment Counsel Co. of Nevada purchased a new stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,819 shares of the home improvement retailer's stock, valued at approximately $667,000. Home Depot makes up 1.5% of Investment Counsel Co. of Nevada's portfolio, making the stock its 13th biggest position.

Several other institutional investors also recently bought and sold shares of HD. Navigoe LLC acquired a new stake in shares of Home Depot in the fourth quarter worth approximately $29,000. Abound Financial LLC acquired a new stake in shares of Home Depot in the first quarter worth approximately $31,000. Iron Horse Wealth Management LLC boosted its stake in shares of Home Depot by 86.8% in the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock worth $36,000 after acquiring an additional 46 shares during the last quarter. Quarry LP boosted its stake in shares of Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock worth $37,000 after acquiring an additional 66 shares during the last quarter. Finally, Quest 10 Wealth Builders Inc. boosted its stake in shares of Home Depot by 35.7% in the first quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock worth $42,000 after acquiring an additional 30 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HD has been the topic of a number of research analyst reports. Mizuho lowered their price target on Home Depot from $450.00 to $435.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 21st. JPMorgan Chase & Co. upped their target price on Home Depot from $410.00 to $418.00 and gave the company an "overweight" rating in a report on Wednesday, May 21st. Sanford C. Bernstein restated a "market perform" rating and issued a $398.00 target price (up from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. Guggenheim restated a "buy" rating and issued a $450.00 target price on shares of Home Depot in a report on Wednesday, May 21st. Finally, DA Davidson dropped their target price on Home Depot from $470.00 to $450.00 in a report on Tuesday, May 20th. Seven analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $426.77.

Insider Transactions at Home Depot

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total transaction of $954,564.00. Following the transaction, the executive vice president owned 7,951 shares in the company, valued at $2,919,130.14. The trade was a 24.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the business's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total value of $1,996,327.68. Following the transaction, the executive vice president owned 17,367 shares in the company, valued at approximately $6,413,285.76. This represents a 23.74% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.10% of the company's stock.

Home Depot Price Performance

Shares of NYSE:HD opened at $380.98 on Tuesday. The company has a market cap of $379.05 billion, a P/E ratio of 25.85, a P/E/G ratio of 3.55 and a beta of 1.00. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The business has a fifty day simple moving average of $366.19 and a 200-day simple moving average of $372.71.

Home Depot (NYSE:HD - Get Free Report) last issued its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The firm had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. During the same quarter in the previous year, the business posted $3.63 EPS. Home Depot's revenue was up 9.4% compared to the same quarter last year. Equities research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were paid a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Thursday, June 5th. Home Depot's payout ratio is currently 62.42%.

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.

Want to see what other hedge funds are holding HD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Home Depot, Inc. (NYSE:HD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.