Providence Wealth Advisors LLC Increases Position in The Home Depot, Inc. (NYSE:HD)

Providence Wealth Advisors LLC grew its holdings in The Home Depot, Inc. (NYSE:HD) by 0.6% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 6,146 shares of the home improvement retailer’s stock after buying an additional 37 shares during the period. Home Depot accounts for approximately 1.8% of Providence Wealth Advisors LLC’s portfolio, making the stock its 16th largest position. Providence Wealth Advisors LLC’s holdings in Home Depot were worth $2,466,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Fairway Wealth LLC purchased a new position in Home Depot during the second quarter worth about $25,000. Kings Path Partners LLC purchased a new position in Home Depot during the second quarter worth about $33,000. Denver PWM LLC purchased a new position in Home Depot during the second quarter worth about $40,000. Livelsberger Financial Advisory purchased a new position in Home Depot during the third quarter worth about $46,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Home Depot during the second quarter worth about $47,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Timothy A. Hourigan sold 16,004 shares of the firm’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 transaction, the executive vice president now owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. This trade represents a 17.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ann Marie Campbell sold 100 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total transaction of $40,258.00. Following the completion of the transaction, the executive vice president now directly owns 12,465 shares in the company, valued at approximately $5,018,159.70. This represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,188 shares of company stock valued at $15,624,585. Company insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on HD. Daiwa America raised shares of Home Depot to a “hold” rating in a report on Thursday, August 15th. Morgan Stanley increased their target price on shares of Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Evercore ISI increased their target price on shares of Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Mizuho increased their target price 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. Finally, Wells Fargo & Company increased their target price on shares of Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Stock Down 0.0 %

Shares of NYSE HD opened at $427.19 on Friday. The Home Depot, Inc. has a 1 year low of $308.59 and a 1 year high of $439.37. The firm’s 50 day moving average price is $406.69 and its 200 day moving average price is $371.20. The firm has a market cap of $424.35 billion, a P/E ratio of 29.02, a price-to-earnings-growth ratio of 2.97 and a beta of 1.01. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. The company had revenue of $40.22 billion for the quarter, compared to the consensus estimate of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.81 earnings per share. As a group, sell-side analysts anticipate that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Wednesday, November 27th. Home Depot’s dividend payout ratio is currently 61.14%.

About Home Depot

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.