PSI Advisors LLC Grows Position in The Home Depot, Inc. (NYSE:HD)



PSI Advisors LLC lifted its stake in The Home Depot, Inc. (NYSE:HD – Get Rating) by 23.2% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 3,136 shares of the home improvement retailer’s stock after buying an additional 591 shares during the quarter. PSI Advisors LLC’s holdings in Home Depot were worth $939,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Legacy Private Trust Co. its raised stake in Home Depot by 0.8% during the fourth quarter. Legacy Private Trust Co. Now owns 7,907 shares of the home improvement retailer’s stock valued at $3,281,000 after purchasing an additional 64 shares in the last quarter. Diversified Trust Co raised its stake in Home Depot by 9.1% during the fourth quarter. Diversified Trust Co now owns 13,965 shares of the home improvement retailer’s stock valued at $5,796,000 after purchasing an additional 1,159 shares in the last quarter. Perkins Coie Trust Co raised its stake in Home Depot by 1.1% during the fourth quarter. Perkins Coie Trust Co now owns 20,246 shares of the home improvement retailer’s stock valued at $8,402,000 after purchasing an additional 228 shares in the last quarter. BlueSky Wealth Advisors LLC purchased a new stake in Home Depot during the fourth quarter valued at $1,368,000. Finally, Activest Wealth Management raised its stake in Home Depot by 91.0% during the fourth quarter. Activest Wealth Management now owns 191 shares of the home improvement retailer’s stock valued at $79,000 after purchasing an additional 91 shares in the last quarter. 70.61% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:HD opened at $279.08 on Friday. The company has a market capitalization of $286.83 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 1.70 and a beta of 0.97. The Home Depot, Inc. has a 52 week low of $264.51 and a 52 week high of $420.61. The company has a quick ratio of 0.28, a current ratio of 1.11 and a debt-to-equity ratio of 35.47. The firm has a 50 day moving average of $291.54 and a 200 day moving average of $327.53.

Home Depot (NYSE:HD – Get Rating) last issued its quarterly earnings data on Tuesday, May 17th. The home improvement retailer reported $4.09 EPS for the quarter, topping analysts’ consensus estimates of $3.67 by $0.42. The company had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $36.78 billion. Home Depot had a net margin of 10.83% and a negative return on equity of 21,952.16%. Home Depot’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.86 earnings per share. On average, sell-side analysts expect that The Home Depot, Inc. will post 16.47 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 16th. Investors of record on Thursday, June 2nd were paid a $1.90 dividend. This represents a $7.60 dividend on an annual basis and a yield of 2.72%. The ex-dividend date of this dividend was Wednesday, June 1st. Home Depot’s dividend payout ratio (DPR) is 48.25%.

In other Home Depot news, EVP Hector A. Padilla sold 136 shares of Home Depot stock in a transaction on Thursday, May 19th. The shares were sold at an average price of $289.23, for a total value of $39,335.28. Following the transaction, the executive vice president now directly owns 11,230 shares of the company’s stock, valued at $3,248,052.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Becker Caryn Seidman purchased 1,500 shares of the business’s stock in a transaction on Monday, May 23rd. The stock was purchased at an average cost of $287.73 per share, for a total transaction of $431,595.00. Following the completion of the acquisition, the director now directly owns 1,500 shares of the company’s stock, valued at approximately $431,595. The disclosure for this purchase can be found here. Insiders own 0.17% of the company’s stock.

A number of research firms recently issued reports on HD. Wedbush decreased their price target on shares of Home Depot from $340.00 to $320.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 18th. OTR Global cut shares of Home Depot to a “positive” rating in a research report on Tuesday, May 10th. StockNews.com cut shares of Home Depot from a “buy” rating to a “hold” rating in a research report on Friday, May 27th. DA Davidson cut their objective price on shares of Home Depot from $354.00 to $330.00 and set a “na” rating on the stock in a research report on Wednesday, May 18th. Finally, Gordon Haskett cut shares of Home Depot from a “buy” rating to an “accumulate” rating in a research report on Friday, May 6th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $369.82.

Home Depot Profile (Get Rating)

The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell 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, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.

Further Reading

Want to see what other hedge funds are holding HD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Home Depot, Inc. (NYSE:HD – Get Rating).

Institutional Ownership by Quarter for Home Depot (NYSE:HD)



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