Convergence Investment Partners LLC Buys 1,746 Shares of The Home Depot, Inc. (NYSE:HD)

Convergence Investment Partners LLC raised its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 14.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,210 shares of the home improvement retailer's stock after purchasing an additional 1,746 shares during the quarter. Home Depot accounts for about 1.2% of Convergence Investment Partners LLC's holdings, making the stock its 14th biggest holding. Convergence Investment Partners LLC's holdings in Home Depot were worth $5,527,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Synergy Asset Management LLC bought a new stake in Home Depot in the fourth quarter worth $26,000. Wingate Wealth Advisors Inc. bought a new stake in Home Depot during the 4th quarter valued at approximately $28,000. Legacy Investment Solutions LLC purchased a new position in shares of Home Depot during the 3rd quarter worth approximately $41,000. Sugar Maple Asset Management LLC bought a new position in shares of Home Depot in the 4th quarter worth approximately $41,000. Finally, Livelsberger Financial Advisory bought a new stake in shares of Home Depot during the third quarter valued at approximately $46,000. Institutional investors own 70.86% of the company's stock.

Home Depot Stock Performance

Shares of Home Depot stock traded down $9.82 during trading hours on Friday, reaching $384.82. 5,284,208 shares of the stock traded hands, compared to its average volume of 3,076,670. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The firm has a market capitalization of $382.26 billion, a price-to-earnings ratio of 26.14, a P/E/G ratio of 4.04 and a beta of 1.05. 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 company has a 50 day moving average price of $402.77 and a 200 day moving average price of $397.00.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of Home Depot from $440.00 to $450.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Bank of America upped their price target on Home Depot from $425.00 to $450.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. DA Davidson lifted their price objective on Home Depot from $430.00 to $466.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Telsey Advisory Group reissued an "outperform" rating and issued a $455.00 target price on shares of Home Depot in a report on Thursday. Finally, Mizuho raised their price target on Home Depot from $435.00 to $440.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat.com, Home Depot presently has an average rating of "Moderate Buy" and a consensus price target of $433.44.

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.