Canvas Wealth Advisors LLC Grows Stake in The Home Depot, Inc. (NYSE:HD)

Canvas Wealth Advisors LLC boosted its position in shares of The Home Depot, Inc. (NYSE:HD) by 7.1% during the 4th quarter, HoldingsChannel reports. The firm owned 2,101 shares of the home improvement retailer’s stock after buying an additional 139 shares during the period. Canvas Wealth Advisors LLC’s holdings in Home Depot were worth $817,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Pegasus Asset Management Inc. increased its holdings in shares of Home Depot by 1.8% in the 3rd quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock valued at $2,024,000 after acquiring an additional 86 shares during the period. Pensionfund Sabic increased its holdings in shares of Home Depot by 51.4% in the 4th quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock valued at $4,357,000 after acquiring an additional 3,800 shares during the period. Swedbank AB increased its holdings in shares of Home Depot by 17.1% in the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after acquiring an additional 132,967 shares during the period. Wedmont Private Capital increased its holdings in shares of Home Depot by 12.5% in the 4th quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock valued at $5,291,000 after acquiring an additional 1,506 shares during the period. Finally, Johnson & White Wealth Management LLC purchased a new position in shares of Home Depot in the 4th quarter valued at $1,793,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Ann Marie Campbell sold 100 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total value of $40,258.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Timothy A. Hourigan sold 16,004 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $409.52, for a total value of $6,553,958.08. Following the completion of the transaction, the executive vice president now directly owns 77,475 shares of the company’s stock, valued at $31,727,562. The trade was a 17.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,188 shares of company stock valued at $15,624,585. 0.10% of the stock is owned by company insiders.

Home Depot Stock Performance

Shares of HD stock opened at $414.25 on Tuesday. The stock has a market cap of $411.50 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 4.22 and a beta of 1.05. The business has a 50-day simple moving average of $406.14 and a 200-day simple moving average of $394.55. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.64 by $0.14. The business 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%. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.81 EPS. On average, equities analysts expect that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were issued a $2.25 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a yield of 2.17%. Home Depot’s payout ratio is 61.14%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HD. JPMorgan Chase & Co. lifted their price target on Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a report on Monday. Sanford C. Bernstein started coverage on Home Depot in a report on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 price target on the stock. Bank of America boosted their target price on Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Mizuho boosted their target price on Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Telsey Advisory Group upgraded Home Depot from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $360.00 to $455.00 in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $428.78.

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.