Kinsale Capital Group Inc. Has $8.35 Million Stock Position in The Home Depot, Inc. (NYSE:HD)

Kinsale Capital Group Inc. grew its position in The Home Depot, Inc. (NYSE:HD) by 12.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 21,468 shares of the home improvement retailer’s stock after purchasing an additional 2,384 shares during the period. Home Depot comprises approximately 2.2% of Kinsale Capital Group Inc.’s holdings, making the stock its 11th largest holding. Kinsale Capital Group Inc.’s holdings in Home Depot were worth $8,351,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in HD. K.J. Harrison & Partners Inc boosted its holdings in shares of Home Depot by 65.2% during the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock worth $3,535,000 after purchasing an additional 3,590 shares during the period. Pensionfund Sabic boosted its holdings in shares of Home Depot by 51.4% during the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock worth $4,357,000 after purchasing an additional 3,800 shares during the period. Swedbank AB boosted its holdings in shares of 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 purchasing an additional 132,967 shares during the period. Wedmont Private Capital boosted its holdings in shares of Home Depot by 12.5% during the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock worth $5,291,000 after purchasing an additional 1,506 shares during the period. Finally, Johnson & White Wealth Management LLC acquired a new stake in shares of Home Depot during the fourth quarter worth approximately $1,793,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HD. Royal Bank of Canada decreased their price target on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a report on Wednesday. Bank of America raised their price target on shares of Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Truist Financial decreased their price target on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a report on Wednesday. Wells Fargo & Company lifted their target price on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $455.00 target price on shares of Home Depot in a research note on Wednesday. Nine equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Trading Up 1.6 %

Shares of HD stock opened at $396.69 on Friday. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. The firm’s fifty day simple moving average is $401.36 and its 200 day simple moving average is $399.06. The firm has a market capitalization of $394.06 billion, a P/E ratio of 26.95, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.09. The firm had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.82 EPS. As a group, sell-side analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Thursday, March 13th. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio is 61.66%.

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.