Algert Global LLC Invests $649,000 in The Home Depot, Inc. (NYSE:HD)

Algert Global LLC bought a new stake in shares of The Home Depot, Inc. (NYSE:HD) in the third quarter, Holdings Channel reports. The institutional investor bought 1,601 shares of the home improvement retailer’s stock, valued at approximately $649,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fairway Wealth LLC bought a new stake in shares of Home Depot in the 2nd quarter worth about $25,000. Kings Path Partners LLC purchased a new position in Home Depot in the second quarter worth about $33,000. Denver PWM LLC bought a new stake in Home Depot during the second quarter worth approximately $40,000. Livelsberger Financial Advisory purchased a new stake in Home Depot during the third quarter valued at approximately $46,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Home Depot in the 2nd quarter valued at approximately $47,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Home Depot

In other Home Depot news, EVP Teresa Wynn Roseborough sold 22,084 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total value of $9,030,368.44. Following the completion of the transaction, the executive vice president now owns 20,404 shares of the company’s stock, valued at approximately $8,343,399.64. This trade represents a 51.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction on Monday, November 18th. The stock was sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the sale, the executive vice president now owns 77,475 shares of the company’s stock, valued at $31,727,562. The trade was a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,188 shares of company stock valued at $15,624,585 in the last quarter. 0.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Oppenheimer increased their price target on Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a report on Tuesday, September 24th. DA Davidson increased their target price on shares of Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Guggenheim lifted their price target on shares of Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Truist Financial increased their price objective on shares of Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Royal Bank of Canada boosted their target price on Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $426.00.

Home Depot Price Performance

Shares of HD stock opened at $429.51 on Friday. The stock’s 50-day moving average is $407.48 and its 200 day moving average is $371.81. The Home Depot, Inc. has a 1-year low of $308.59 and a 1-year high of $439.37. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The company has a market cap of $426.66 billion, a P/E ratio of 29.18, a PEG ratio of 2.97 and a beta of 1.01.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, beating analysts’ consensus estimates of $3.64 by $0.14. The business had revenue of $40.22 billion for the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company’s revenue was up 6.6% compared to the same quarter last year. During the same period last year, the business earned $3.81 EPS. Research analysts predict that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be issued a dividend of $2.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $9.00 annualized dividend and a dividend yield of 2.10%. Home Depot’s dividend payout ratio is presently 61.14%.

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.