Ninepoint Partners LP Acquires Shares of 1,896 The Home Depot, Inc. (NYSE:HD)

Ninepoint Partners LP bought a new position in The Home Depot, Inc. (NYSE:HD - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,896 shares of the home improvement retailer's stock, valued at approximately $695,000.

Other large investors have also made changes to their positions in the company. Hurlow Wealth Management Group Inc. increased its position in Home Depot by 1.3% in the 4th quarter. Hurlow Wealth Management Group Inc. now owns 2,137 shares of the home improvement retailer's stock valued at $831,000 after acquiring an additional 27 shares during the period. Invst LLC lifted its holdings in shares of Home Depot by 0.4% in the fourth quarter. Invst LLC now owns 6,738 shares of the home improvement retailer's stock valued at $2,621,000 after purchasing an additional 28 shares in the last quarter. Financial Insights Inc. lifted its stake in Home Depot by 3.3% in the 1st quarter. Financial Insights Inc. now owns 880 shares of the home improvement retailer's stock worth $323,000 after acquiring an additional 28 shares in the last quarter. Wayfinding Financial LLC grew its holdings in shares of Home Depot by 1.2% during the 1st quarter. Wayfinding Financial LLC now owns 2,353 shares of the home improvement retailer's stock valued at $862,000 after acquiring an additional 28 shares in the last quarter. Finally, Pure Portfolios Holdings LLC grew its stake in Home Depot by 4.7% in the first quarter. Pure Portfolios Holdings LLC now owns 623 shares of the home improvement retailer's stock valued at $228,000 after purchasing an additional 28 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company's stock.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

HD has been the subject of several research reports. JPMorgan Chase & Co. lifted their price target on Home Depot from $410.00 to $418.00 and gave the company an "overweight" rating in a report on Wednesday, May 21st. TD Securities cut shares of Home Depot to a "buy" rating in a research note on Monday, June 2nd. Guggenheim restated a "buy" rating and set a $450.00 price target on shares of Home Depot in a report on Wednesday, May 21st. Sanford C. Bernstein reiterated a "market perform" rating and issued a $398.00 price objective (up from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. Finally, Morgan Stanley reissued an "overweight" rating and set a $415.00 price objective (up previously from $410.00) on shares of Home Depot in a report on Tuesday, May 20th. Seven research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Home Depot has an average rating of "Moderate Buy" and a consensus target price of $426.77.

Home Depot Stock Performance

HD traded up $2.08 on Friday, reaching $375.17. The company had a trading volume of 2,220,183 shares, compared to its average volume of 3,349,543. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The company's fifty day moving average is $365.59 and its 200 day moving average is $373.84. The stock has a market cap of $373.27 billion, a P/E ratio of 25.45, a P/E/G ratio of 3.57 and a beta of 1.00. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.28 and a current ratio of 1.09.

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

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were issued a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.45%. The ex-dividend date was Thursday, June 5th. Home Depot's dividend payout ratio (DPR) is 62.42%.

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.