Providence Capital Advisors LLC Boosts Stock Position in The Home Depot, Inc. (NYSE:HD)

Providence Capital Advisors LLC increased its stake in shares of The Home Depot, Inc. (NYSE:HD) by 0.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,396 shares of the home improvement retailer’s stock after purchasing an additional 122 shares during the quarter. Home Depot makes up approximately 1.6% of Providence Capital Advisors LLC’s holdings, making the stock its 13th largest holding. Providence Capital Advisors LLC’s holdings in Home Depot were worth $7,366,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HD. Fairway Wealth LLC purchased a new stake in Home Depot during the 2nd quarter worth about $25,000. Frank Rimerman Advisors LLC purchased a new stake in Home Depot in the 4th quarter valued at about $27,000. Kings Path Partners LLC purchased a new stake in Home Depot in the 2nd quarter valued at about $33,000. Burkett Financial Services LLC purchased a new stake in Home Depot in the 4th quarter valued at about $38,000. Finally, A.P. Gilfoyle & Co. L.P. purchased a new stake in Home Depot in the 1st quarter valued at about $38,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

Shares of HD opened at $391.96 on Tuesday. The business’s 50 day moving average is $365.62 and its two-hundred day moving average is $354.23. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $396.87. The firm has a market cap of $388.67 billion, a price-to-earnings ratio of 26.29, a PEG ratio of 2.57 and a beta of 1.00. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The company had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. During the same period in the prior year, the company posted $4.65 EPS. Home Depot’s quarterly revenue was up .6% on a year-over-year basis. Analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were issued a $2.25 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.30%. Home Depot’s dividend payout ratio (DPR) is 60.36%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Melius Research assumed coverage on Home Depot in a report on Monday. They issued a “buy” rating and a $420.00 price target for the company. Evercore ISI lowered their price target on Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Telsey Advisory Group restated a “market perform” rating and issued a $360.00 price target on shares of Home Depot in a report on Thursday, September 12th. Jefferies Financial Group initiated coverage on Home Depot in a research note on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price objective on the stock. Finally, Royal Bank of Canada reduced their price objective on Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $390.28.

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.