Portfolio Design Labs LLC Purchases Shares of 5,512 The Home Depot, Inc. (NYSE:HD)

Portfolio Design Labs LLC acquired a new stake in The Home Depot, Inc. (NYSE:HD - Free Report) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 5,512 shares of the home improvement retailer's stock, valued at approximately $2,233,000.

Several other large investors also recently modified their holdings of HD. Texas Capital Bank Wealth Management Services Inc raised its position in shares of Home Depot by 27.6% during the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer's stock worth $9,348,000 after acquiring an additional 5,879 shares during the last quarter. Pegasus Asset Management Inc. lifted its holdings in Home Depot by 1.8% during the third quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer's stock worth $2,024,000 after acquiring an additional 86 shares during the period. Swedbank AB lifted its holdings in Home Depot by 17.1% during the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer's stock worth $368,542,000 after acquiring an additional 132,967 shares during the period. LGT Group Foundation raised its stake in shares of Home Depot by 121.0% in the second quarter. LGT Group Foundation now owns 269,368 shares of the home improvement retailer's stock valued at $92,727,000 after buying an additional 147,482 shares during the period. Finally, CX Institutional raised its stake in shares of Home Depot by 225.6% in the third quarter. CX Institutional now owns 32,717 shares of the home improvement retailer's stock valued at $13,257,000 after buying an additional 22,668 shares during the period. 70.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on HD. Wells Fargo & Company boosted their price objective on Home Depot from $400.00 to $430.00 and gave the company an "overweight" rating in a research note on Wednesday, November 6th. Evercore ISI upped their target price on Home Depot from $420.00 to $430.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. Guggenheim upped their target price on 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 upped their target price on Home Depot from $459.00 to $465.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Finally, Barclays upped their target price on Home Depot from $372.00 to $420.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, Home Depot currently has a consensus rating of "Moderate Buy" and an average price target of $426.00.

Home Depot Trading Down 1.7 %

NYSE HD traded down $6.82 during trading hours on Wednesday, hitting $399.98. 4,730,652 shares of the company were exchanged, compared to its average volume of 3,386,978. The stock has a market cap of $397.30 billion, a PE ratio of 27.35, a price-to-earnings-growth ratio of 2.84 and a beta of 1.01. The stock has a 50-day moving average price of $401.13 and a 200 day moving average price of $367.78. The Home Depot, Inc. has a 52 week low of $302.34 and a 52 week high of $421.56. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD - Get Free Report) last released its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating analysts' consensus estimates of $3.64 by $0.14. The firm had revenue of $40.22 billion for the quarter, compared to analysts' expectations of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company's quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.81 earnings per share. Analysts forecast that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be issued a $2.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.25%. Home Depot's payout ratio is 61.14%.

Insider Activity at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 22,084 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the completion of the sale, the executive vice president now owns 20,404 shares in the company, valued at approximately $8,343,399.64. This represents a 51.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Timothy A. Hourigan sold 16,004 shares of the company's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $409.52, for a total value of $6,553,958.08. Following the completion of the transaction, the executive vice president now directly owns 77,475 shares in the company, valued at approximately $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. 0.10% of the stock is owned by company insiders.

Home Depot Company 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.