ClearAlpha Technologies LP Lowers Position in The Home Depot, Inc. (NYSE:HD)

ClearAlpha Technologies LP trimmed its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 35.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,969 shares of the home improvement retailer’s stock after selling 1,090 shares during the quarter. ClearAlpha Technologies LP’s holdings in Home Depot were worth $798,000 as of its most recent filing with the Securities & Exchange Commission.

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

Home Depot Trading Up 0.5 %

NYSE:HD opened at $429.13 on Monday. The company has a market cap of $426.28 billion, a PE ratio of 29.15, a price-to-earnings-growth ratio of 2.98 and a beta of 1.01. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The company has a 50 day simple moving average of $407.48 and a two-hundred day simple moving average of $372.20. The Home Depot, Inc. has a 12 month low of $308.59 and a 12 month high of $439.37.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating analysts’ consensus estimates of $3.64 by $0.14. The company had revenue of $40.22 billion during 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%. Home Depot’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.81 earnings per share. Research analysts forecast that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be given a dividend of $2.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $9.00 annualized dividend and a yield of 2.10%. Home Depot’s dividend payout ratio (DPR) is 61.14%.

Insider Buying and Selling at Home Depot

In related news, EVP Timothy A. Hourigan sold 16,004 shares of the stock in a transaction that occurred 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 completion of the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of Home Depot stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the transaction, the executive vice president now directly owns 20,404 shares in the company, valued at $8,343,399.64. This represents a 51.98 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,188 shares of company stock valued at $15,624,585. Insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on HD shares. Piper Sandler upped their price objective on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Oppenheimer upped their price target on shares of Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research report on Tuesday, September 24th. Loop Capital upgraded Home Depot from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $360.00 to $460.00 in a report on Wednesday, October 9th. Barclays increased their target price on Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, Mizuho boosted their price objective on Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. One equities 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $426.00.

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.