Mainsail Financial Group LLC Trims Position in The Home Depot, Inc. (NYSE:HD)

Mainsail Financial Group LLC reduced its holdings in The Home Depot, Inc. (NYSE:HD) by 4.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,448 shares of the home improvement retailer’s stock after selling 121 shares during the quarter. Mainsail Financial Group LLC’s holdings in Home Depot were worth $1,019,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Fairway Wealth LLC acquired a new position in Home Depot in the second quarter valued at $25,000. Kings Path Partners LLC purchased a new stake in shares of Home Depot during the 2nd quarter worth about $33,000. Denver PWM LLC acquired a new stake in Home Depot during the 2nd quarter worth approximately $40,000. Livelsberger Financial Advisory acquired a new position in Home Depot during the third quarter valued at approximately $46,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Home Depot during the second quarter valued at approximately $47,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Stock Down 0.5 %

HD stock opened at $399.64 on Thursday. The stock has a market cap of $396.29 billion, a PE ratio of 26.80, a price-to-earnings-growth ratio of 2.88 and a beta of 1.00. The firm’s 50-day simple moving average is $388.23 and its 200 day simple moving average is $359.43. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $421.56. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating the consensus estimate of $4.59 by $0.08. The company had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. Home Depot’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the business earned $4.65 earnings per share. As a group, sell-side analysts predict that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a yield of 2.25%. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Royal Bank of Canada decreased their price target on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 14th. Melius Research initiated coverage on Home Depot in a research note on Monday, September 23rd. They issued a “buy” rating and a $420.00 target price for the company. Morgan Stanley upped their price target on Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday. UBS Group lifted their price objective on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Finally, JPMorgan Chase & Co. upped their target price on shares of Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $410.67.

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.