Lord Abbett & CO. LLC Grows Position in The Home Depot, Inc. (NYSE:HD)

Lord Abbett & CO. LLC boosted its position in shares of The Home Depot, Inc. (NYSE:HD) by 0.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 125,350 shares of the home improvement retailer’s stock after buying an additional 776 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Home Depot were worth $50,792,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Texas Capital Bank Wealth Management Services Inc grew its holdings in shares of Home Depot by 27.6% during the 2nd 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 period. Pegasus Asset Management Inc. lifted its position 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 valued at $2,024,000 after buying an additional 86 shares during the period. Swedbank AB boosted its holdings in shares of Home Depot by 17.1% during the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after buying an additional 132,967 shares in the last quarter. LGT Group Foundation increased its stake in shares of Home Depot by 121.0% in the 2nd quarter. LGT Group Foundation now owns 269,368 shares of the home improvement retailer’s stock worth $92,727,000 after acquiring an additional 147,482 shares in the last quarter. Finally, Cerity Partners LLC boosted its stake in Home Depot by 14.3% during the third quarter. Cerity Partners LLC now owns 673,876 shares of the home improvement retailer’s stock worth $273,055,000 after acquiring an additional 84,062 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Ann Marie Campbell sold 100 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total value of $40,258.00. Following the sale, the executive vice president now owns 12,465 shares of the company’s stock, valued at approximately $5,018,159.70. This represents a 0.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the transaction, the executive vice president now directly owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. This represents a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,188 shares of company stock valued at $15,624,585 in the last three months. Corporate insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on HD. Mizuho boosted their price target on Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Sanford C. Bernstein began coverage on Home Depot in a research report on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 price target for the company. Telsey Advisory Group upgraded shares of Home Depot from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $360.00 to $455.00 in a research note on Friday, November 8th. Evercore ISI upped their target price on shares of Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Oppenheimer boosted their price objective on shares of Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and a consensus target price of $426.00.

Home Depot Price Performance

Shares of NYSE:HD opened at $416.98 on Friday. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The firm has a market cap of $414.21 billion, a price-to-earnings ratio of 28.33, a P/E/G ratio of 2.93 and a beta of 1.03. The firm has a fifty day moving average price of $411.79 and a 200 day moving average price of $378.33. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business’s revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.81 earnings per share. As a group, sell-side analysts expect that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot’s payout ratio is 61.14%.

Home Depot 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.