NS Partners Ltd Raises Position in The Home Depot, Inc. (NYSE:HD)

20 Nov 2024, 16:59 by Michael Walen · The Markets Daily

NS Partners Ltd lifted its position in shares of The Home Depot, Inc. (NYSE:HD – Free Report) by 5.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,688 shares of the home improvement retailer’s stock after acquiring an additional 131 shares during the quarter. NS Partners Ltd’s holdings in Home Depot were worth $1,089,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Abacus Wealth Partners LLC raised its stake in shares of Home Depot by 3.7% in the 3rd quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock worth $285,000 after buying an additional 25 shares in the last quarter. Redhawk Wealth Advisors Inc. increased its stake in Home Depot by 0.7% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock worth $1,469,000 after purchasing an additional 25 shares in the last quarter. Capital City Trust Co. FL raised its holdings in Home Depot by 1.1% during the 3rd quarter. Capital City Trust Co. FL now owns 2,494 shares of the home improvement retailer’s stock worth $1,011,000 after buying an additional 26 shares during the period. Ruedi Wealth Management Inc. lifted its stake in Home Depot by 1.2% during the second quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock valued at $817,000 after buying an additional 27 shares in the last quarter. Finally, Acorn Creek Capital LLC boosted its holdings in shares of Home Depot by 3.4% in the second quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock worth $291,000 after buying an additional 28 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Mizuho boosted their price target on shares of Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Royal Bank of Canada increased their target price on Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a report on Monday, November 11th. Wells Fargo & Company raised their price target on shares of Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Daiwa America raised shares of Home Depot to a “hold” rating in a research note on Thursday, August 15th. Finally, Gordon Haskett raised Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective for the company in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus target price of $426.00.

Check Out Our Latest Analysis on Home Depot

Insider Activity at Home Depot

In other Home Depot news, EVP Teresa Wynn Roseborough sold 22,084 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the sale, the executive vice president now directly owns 20,404 shares of the company’s stock, valued at approximately $8,343,399.64. This represents a 51.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.10% of the stock is owned by insiders.

Home Depot Trading Down 0.9 %

Home Depot stock opened at $406.88 on Wednesday. The business has a 50 day moving average price of $401.13 and a two-hundred day moving average price of $367.78. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a 12 month low of $302.34 and a 12 month high of $421.56. The stock has a market cap of $404.15 billion, a price-to-earnings ratio of 27.64, a price-to-earnings-growth ratio of 2.84 and a beta of 1.01.

Home Depot (NYSE:HD – Get Free Report) last issued its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, topping the consensus estimate of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same period last year, the business earned $3.81 earnings per share. Home Depot’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, equities analysts forecast that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be given a dividend of $2.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $9.00 annualized dividend and a dividend yield of 2.21%. Home Depot’s dividend payout ratio (DPR) is presently 61.14%.

Home Depot Profile

(Free Report)