Blue Edge Capital LLC Has $4.88 Million Stock Position in The Home Depot, Inc. (NYSE:HD)

by · The Cerbat Gem

Blue Edge Capital LLC boosted its position in The Home Depot, Inc. (NYSE:HD – Free Report) by 0.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 15,693 shares of the home improvement retailer’s stock after purchasing an additional 62 shares during the period. Home Depot comprises 1.0% of Blue Edge Capital LLC’s holdings, making the stock its 29th largest position. Blue Edge Capital LLC’s holdings in Home Depot were worth $4,875,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Carnegie Capital Asset Management LLC raised its holdings in Home Depot by 7.2% in the 2nd quarter. Carnegie Capital Asset Management LLC now owns 47,911 shares of the home improvement retailer’s stock valued at $14,883,000 after acquiring an additional 3,211 shares during the period. Outlook Wealth Advisors LLC raised its holdings in Home Depot by 3.6% in the 2nd quarter. Outlook Wealth Advisors LLC now owns 4,960 shares of the home improvement retailer’s stock valued at $1,541,000 after acquiring an additional 171 shares during the period. Impax Asset Management Group plc raised its holdings in Home Depot by 3.6% in the 2nd quarter. Impax Asset Management Group plc now owns 5,391 shares of the home improvement retailer’s stock valued at $1,675,000 after acquiring an additional 186 shares during the period. Richard W. Paul & Associates LLC raised its holdings in Home Depot by 5.2% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 3,064 shares of the home improvement retailer’s stock valued at $952,000 after acquiring an additional 152 shares during the period. Finally, Fortis Group Advisors LLC bought a new position in Home Depot in the 1st quarter valued at about $2,567,000. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP William D. Bastek sold 1,612 shares of the stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $313.90, for a total value of $506,006.80. Following the completion of the sale, the executive vice president now owns 17,966 shares in the company, valued at approximately $5,639,527.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Home Depot news, EVP William D. Bastek sold 1,612 shares of the stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $313.90, for a total value of $506,006.80. Following the completion of the sale, the executive vice president now owns 17,966 shares in the company, valued at approximately $5,639,527.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Kimberly R. Scardino sold 1,375 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $306.51, for a total transaction of $421,451.25. Following the completion of the sale, the chief accounting officer now owns 6,744 shares of the company’s stock, valued at approximately $2,067,103.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,114 shares of company stock worth $966,456. Insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. HSBC assumed coverage on shares of Home Depot in a report on Friday, September 22nd. They set a “hold” rating and a $365.00 target price on the stock. Sanford C. Bernstein lifted their price objective on shares of Home Depot from $314.00 to $328.00 and gave the company a “market perform” rating in a research note on Wednesday, August 16th. Wedbush raised their target price on shares of Home Depot from $290.00 to $350.00 and gave the company a “neutral” rating in a research report on Wednesday, August 16th. Wells Fargo & Company boosted their target price on shares of Home Depot from $345.00 to $360.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 16th. Finally, Evercore ISI boosted their target price on shares of Home Depot from $360.00 to $370.00 and gave the stock an “outperform” rating in a research note on Friday, September 8th. Twelve analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and an average target price of $340.14.

View Our Latest Report on HD

Home Depot Trading Up 0.6 %

HD opened at $333.22 on Wednesday. The company has a debt-to-equity ratio of 28.37, a current ratio of 1.30 and a quick ratio of 0.33. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $347.25. The firm has a market capitalization of $331.64 billion, a PE ratio of 21.39, a P/E/G ratio of 2.44 and a beta of 0.94. The company’s 50-day moving average is $300.76 and its 200 day moving average is $310.08.

Home Depot (NYSE:HD – Get Free Report) last posted its earnings results on Tuesday, November 14th. The home improvement retailer reported $3.81 earnings per share for the quarter, topping analysts’ consensus estimates of $3.75 by $0.06. Home Depot had a net margin of 10.22% and a return on equity of 1,339.65%. The company had revenue of $37.71 billion for the quarter, compared to analyst estimates of $37.59 billion. During the same quarter in the prior year, the business posted $4.24 EPS. The firm’s revenue was down 3.0% compared to the same quarter last year. As a group, research analysts predict that The Home Depot, Inc. will post 15.05 earnings per share for the current fiscal year.

Home Depot declared that its board has authorized a share buyback plan on Tuesday, August 15th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the home improvement retailer to repurchase up to 4.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 30th will be issued a $2.09 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $8.36 dividend on an annualized basis and a dividend yield of 2.51%. Home Depot’s dividend payout ratio is presently 53.66%.

About Home Depot

(Free Report)

The Home Depot, Inc operates as a home improvement retailer. 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.

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