Louisbourg Investments Inc. Trims Position in The Home Depot, Inc. (NYSE:HD)

Louisbourg Investments Inc. cut its holdings in The Home Depot, Inc. (NYSE:HD) by 2.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 4,100 shares of the home improvement retailer’s stock after selling 84 shares during the quarter. Louisbourg Investments Inc.’s holdings in Home Depot were worth $1,595,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Synergy Asset Management LLC bought a new position in shares of Home Depot during the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Home Depot in the 4th quarter worth approximately $28,000. Legacy Investment Solutions LLC bought a new position in Home Depot during the 3rd quarter valued at approximately $41,000. Sugar Maple Asset Management LLC purchased a new position in Home Depot during the fourth quarter valued at $41,000. Finally, Livelsberger Financial Advisory bought a new stake in Home Depot in the third quarter worth $46,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Trading Down 2.2 %

Shares of Home Depot stock opened at $407.20 on Thursday. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The stock has a market capitalization of $404.50 billion, a PE ratio of 27.66, a P/E/G ratio of 4.22 and a beta of 1.05. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. The company’s fifty day simple moving average is $405.62 and its 200-day simple moving average is $395.38.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 452.60% and a net margin of 9.45%. Home Depot’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business earned $3.81 earnings per share. As a group, equities analysts anticipate that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Insider Transactions at Home Depot

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 completion of the sale, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at $5,018,159.70. This represents a 0.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction on Monday, November 18th. The shares were 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 owns 77,475 shares in the company, valued at approximately $31,727,562. This trade represents a 17.12 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HD. Stifel Nicolaus raised their price target on Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a report on Monday, November 11th. DA Davidson raised their price objective on shares of Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a research note on Friday, October 25th. TD Cowen lifted their target price on shares of Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a report on Monday, October 28th. JPMorgan Chase & Co. increased their price target on shares of Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a report on Monday. Finally, Royal Bank of Canada boosted their price objective on shares of Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given 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 $428.85.

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.