ClearAlpha Technologies LP Cuts Stake in The Home Depot, Inc. (NYSE:HD)

ClearAlpha Technologies LP cut its holdings in The Home Depot, Inc. (NYSE:HD) by 35.6% during the third quarter, Holdings Channel reports. The firm 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 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HD. Fairway Wealth LLC bought a new stake in shares of Home Depot in 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. Livelsberger Financial Advisory purchased a new stake in shares of Home Depot during the 3rd quarter worth approximately $46,000. Denver PWM LLC purchased a new stake in shares of Home Depot during the 2nd quarter worth approximately $40,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Home Depot in the second quarter valued at $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 stock has a market capitalization of $426.28 billion, a price-to-earnings ratio of 29.15, a PEG ratio of 2.98 and a beta of 1.01. The Home Depot, Inc. has a 52 week low of $308.59 and a 52 week high of $439.37. 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 firm has a 50 day moving average of $407.48 and a 200 day moving average of $372.20.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same quarter last year, the firm earned $3.81 EPS. The business’s quarterly revenue was up 6.6% on a year-over-year basis. As a group, sell-side analysts anticipate that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be issued 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 dividend yield of 2.10%. Home Depot’s dividend payout ratio (DPR) is currently 61.14%.

Insider Activity at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 22,084 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the transaction, the executive vice president now directly owns 20,404 shares of the company’s stock, valued at approximately $8,343,399.64. This represents a 51.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot 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 sale, the executive vice president now directly owns 77,475 shares of the company’s stock, valued at $31,727,562. This trade represents a 17.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,188 shares of company stock valued at $15,624,585 in the last three months. 0.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

HD has been the subject of several research reports. Stifel Nicolaus increased their price objective on shares of Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a research report on Monday, November 11th. DA Davidson lifted their price target on Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Truist Financial boosted their price objective on Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Morgan Stanley raised their price objective on Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Finally, Piper Sandler boosted their target price on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus target price of $426.00.

Home Depot 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.