Ontario Teachers Pension Plan Board Has $1.55 Million Position in The Home Depot, Inc. (NYSE:HD)

Key Points

• Ontario Teachers Pension Plan Board increased its stake in The Home Depot, Inc. by 35.4%, bringing its total shares to 4,221 valued at approximately $1.54 million.
• Several equities analysts have issued positive ratings and target prices for Home Depot, with the consensus target price now at $426.77, reflecting strong market expectations.
• Home Depot reported a quarterly earnings miss with $3.56 EPS, below the expected consensus of $3.59 EPS, despite revenue growing 9.4% year-over-year.

Ontario Teachers Pension Plan Board boosted its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 35.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,221 shares of the home improvement retailer's stock after purchasing an additional 1,104 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Home Depot were worth $1,547,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Navigoe LLC acquired a new stake in shares of Home Depot in the fourth quarter valued at approximately $29,000. Abound Financial LLC bought a new stake in Home Depot during the 1st quarter worth about $31,000. Iron Horse Wealth Management LLC boosted its stake in shares of Home Depot by 86.8% during the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock worth $36,000 after buying an additional 46 shares during the last quarter. Quarry LP grew its holdings in shares of Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock valued at $37,000 after acquiring an additional 66 shares in the last quarter. Finally, Quest 10 Wealth Builders Inc. increased its position in shares of Home Depot by 35.7% during the 1st quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock worth $42,000 after purchasing an additional 30 shares during the last quarter. Institutional investors own 70.86% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Guggenheim reissued a "buy" rating and issued a $450.00 target price on shares of Home Depot in a research note on Wednesday, May 21st. Morgan Stanley restated an "overweight" rating and set a $415.00 target price (up previously from $410.00) on shares of Home Depot in a research note on Tuesday, May 20th. Royal Bank Of Canada decreased their price target on shares of Home Depot from $424.00 to $399.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 15th. TD Securities cut Home Depot to a "buy" rating in a report on Monday, June 2nd. Finally, Evercore ISI set a $400.00 target price on Home Depot and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Seven research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Home Depot has a consensus rating of "Moderate Buy" and a consensus target price of $426.77.

Home Depot Trading Up 0.4%

Shares of HD stock traded up $1.60 during mid-day trading on Friday, reaching $387.77. 2,326,668 shares of the stock traded hands, compared to its average volume of 3,127,176. The company has a market cap of $385.80 billion, a price-to-earnings ratio of 26.31, a price-to-earnings-growth ratio of 3.69 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 stock's fifty day simple moving average is $367.64 and its two-hundred day simple moving average is $372.26. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37.

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

Home Depot Dividend Announcement

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

Insider Activity

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

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.