Public Sector Pension Investment Board Grows Position in The Home Depot, Inc. (NYSE:HD)

Key Points

• The Public Sector Pension Investment Board increased its stake in Home Depot by 186.0% during the first quarter, now owning 354,985 shares worth approximately $130 million.
• Home Depot recently reported earnings of $3.56 per share, slightly below analysts' estimates, but revenue for the quarter rose 9.4% year-over-year to $39.86 billion.
• The company announced a quarterly dividend of $2.30 per share, reflecting an annualized dividend yield of 2.4%.

Public Sector Pension Investment Board grew its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 186.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 354,985 shares of the home improvement retailer's stock after purchasing an additional 230,851 shares during the period. Home Depot makes up about 0.6% of Public Sector Pension Investment Board's portfolio, making the stock its 25th biggest position. Public Sector Pension Investment Board's holdings in Home Depot were worth $130,098,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Asset Planning Services Inc. LA ADV boosted its position in Home Depot by 99,400.7% during the 1st quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock worth $6,954,431,000 after buying an additional 18,956,701 shares during the period. GAMMA Investing LLC raised its stake in shares of Home Depot by 39,194.1% during the first quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock valued at $37,517,230,000 after acquiring an additional 10,210,851 shares during the last quarter. Nuveen LLC acquired a new position in shares of Home Depot during the first quarter worth $2,076,592,000. Northern Trust Corp grew its stake in shares of Home Depot by 13.3% in the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock worth $4,726,186,000 after purchasing an additional 1,424,857 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC acquired a new stake in Home Depot in the fourth quarter valued at $471,189,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Home Depot

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of the stock in a transaction dated 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. This represents a 23.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Fahim Siddiqui sold 2,600 shares of the firm'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 sale, the executive vice president owned 7,951 shares of the company's stock, 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. 0.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on HD shares. DA Davidson reduced their price target on Home Depot from $470.00 to $450.00 in a research report on Tuesday, May 20th. JPMorgan Chase & Co. increased their target price on shares of Home Depot from $410.00 to $418.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. Gordon Haskett boosted their price target on shares of Home Depot from $350.00 to $360.00 in a research report on Tuesday, May 20th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $455.00 price objective on shares of Home Depot in a research note on Wednesday. Finally, Stifel Nicolaus raised shares of Home Depot from a "hold" rating to a "buy" rating and lifted their target price for the stock from $405.00 to $425.00 in a research note on Wednesday, May 21st. Seven 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 company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $427.38.

Home Depot Stock Down 1.6%

Shares of HD traded down $6.45 during trading hours on Thursday, reaching $400.73. 3,599,312 shares of the stock traded hands, compared to its average volume of 3,515,108. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The company has a market cap of $398.70 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 3.76 and a beta of 1.00. The stock has a fifty day simple moving average of $369.19 and a 200 day simple moving average of $372.20. The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 5.95.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings data 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). 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 analysts' expectations of $39.24 billion. During the same quarter last year, the business posted $3.63 EPS. The company's quarterly revenue was up 9.4% on a year-over-year basis. On average, equities analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were given a $2.30 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 annualized dividend and a yield of 2.3%. 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.