The Home Depot, Inc. (NYSE:HD) Stock Holdings Lowered by Canvas Wealth Advisors LLC

Canvas Wealth Advisors LLC lowered its position in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 12.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 3,337 shares of the home improvement retailer’s stock after selling 481 shares during the period. Canvas Wealth Advisors LLC’s holdings in Home Depot were worth $915,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Mather Group LLC. lifted its holdings in Home Depot by 92.9% in the fourth quarter. Mather Group LLC. now owns 3,543 shares of the home improvement retailer’s stock worth $1,470,000 after purchasing an additional 1,706 shares during the period. Apeiron RIA LLC acquired a new stake in Home Depot in the fourth quarter worth about $434,000. Treasure Coast Financial Planning acquired a new stake in Home Depot in the fourth quarter worth about $421,000. Penserra Capital Management LLC lifted its holdings in Home Depot by 67.3% in the fourth quarter. Penserra Capital Management LLC now owns 125,003 shares of the home improvement retailer’s stock worth $51,875,000 after purchasing an additional 50,303 shares during the period. Finally, 1832 Asset Management L.P. lifted its holdings in Home Depot by 41.0% in the fourth quarter. 1832 Asset Management L.P. now owns 1,503,876 shares of the home improvement retailer’s stock worth $622,418,000 after purchasing an additional 436,942 shares during the period. Institutional investors own 68.66% of the company’s stock.

Insider Buying and Selling

In related news, EVP Fahim Siddiqui sold 1,000 shares of the stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $300.59, for a total value of $300,590.00. Following the transaction, the executive vice president now owns 6,180 shares in the company, valued at $1,857,646.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Matt Carey sold 12,650 shares of Home Depot stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $316.26, for a total value of $4,000,689.00. Following the transaction, the executive vice president now owns 34,522 shares of the company’s stock, valued at $10,917,927.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Fahim Siddiqui sold 1,000 shares of Home Depot stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $300.59, for a total transaction of $300,590.00. Following the completion of the transaction, the executive vice president now directly owns 6,180 shares in the company, valued at approximately $1,857,646.20. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

HD has been the subject of a number of research analyst reports. UBS Group upped their price target on shares of Home Depot from $360.00 to $370.00 and gave the company a “buy” rating in a report on Wednesday, August 17th. Piper Sandler upped their price target on shares of Home Depot to $327.00 in a report on Monday, August 22nd. Guggenheim upped their price target on shares of Home Depot from $350.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday, August 17th. Morgan Stanley upped their price target on shares of Home Depot from $350.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, August 17th. Finally, MKM Partners initiated coverage on shares of Home Depot in a report on Thursday, June 23rd. They issued a “neutral” rating and a $285.00 price target for the company. Five analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $365.68.

Home Depot Price Performance

Shares of HD opened at $284.32 on Friday. The company has a market capitalization of $291.07 billion, a price-to-earnings ratio of 17.48, a P/E/G ratio of 1.55 and a beta of 0.95. The Home Depot, Inc. has a fifty-two week low of $264.51 and a fifty-two week high of $420.61. The company has a debt-to-equity ratio of 165.70, a current ratio of 1.18 and a quick ratio of 0.25. The business’s 50-day moving average is $295.01 and its 200-day moving average is $296.08.

Home Depot (NYSE:HD – Get Rating) last issued its earnings results on Tuesday, August 16th. The home improvement retailer reported $5.05 earnings per share for the quarter, beating analysts’ consensus estimates of $4.95 by $0.10. Home Depot had a negative return on equity of 3,166.43% and a net margin of 10.88%. The company had revenue of $43.79 billion for the quarter, compared to the consensus estimate of $43.33 billion. During the same quarter in the prior year, the company earned $4.53 EPS. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. Equities research analysts expect that The Home Depot, Inc. will post 16.64 EPS for the current fiscal year.

Home Depot declared that its board has approved a share buyback plan on Thursday, August 18th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the home improvement retailer to reacquire up to 4.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were issued a $1.90 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $7.60 dividend on an annualized basis and a yield of 2.67%. Home Depot’s dividend payout ratio is currently 46.71%.

Home Depot Profile

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The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell 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, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.

Further Reading

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