The Home Depot, Inc. (NYSE:HD) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its position in shares of The Home Depot, Inc. (NYSE:HD) by 12.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 165,459 shares of the home improvement retailer’s stock after selling 24,360 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Home Depot were worth $67,044,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of HD. Encompass More Asset Management grew its holdings in Home Depot by 19.1% in the 3rd quarter. Encompass More Asset Management now owns 1,139 shares of the home improvement retailer’s stock worth $461,000 after buying an additional 183 shares in the last quarter. Edgestream Partners L.P. grew its stake in shares of Home Depot by 352.9% in the third quarter. Edgestream Partners L.P. now owns 10,830 shares of the home improvement retailer’s stock worth $4,388,000 after purchasing an additional 8,439 shares in the last quarter. L.M. Kohn & Company lifted its holdings in Home Depot by 3.2% in the third quarter. L.M. Kohn & Company now owns 12,526 shares of the home improvement retailer’s stock worth $5,076,000 after purchasing an additional 388 shares during the period. Ironwood Investment Counsel LLC grew its position in Home Depot by 0.7% in the 3rd quarter. Ironwood Investment Counsel LLC now owns 16,561 shares of the home improvement retailer’s stock valued at $6,711,000 after buying an additional 118 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in Home Depot by 295.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 693,318 shares of the home improvement retailer’s stock valued at $280,932,000 after buying an additional 518,054 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on HD shares. TD Cowen upped their target price on Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Truist Financial boosted their price objective on shares of Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Daiwa America upgraded shares of Home Depot to a “hold” rating in a research note on Thursday, August 15th. Wells Fargo & Company boosted their target price on shares of Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Finally, Gordon Haskett raised Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price target on the stock in a research report on Wednesday, October 2nd. One investment 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 company’s stock. According to MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and an average target price of $426.00.

Insider Buying and Selling

In related news, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot 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 transaction, the executive vice president now directly owns 77,475 shares in the company, valued at approximately $31,727,562. The trade was a 17.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the stock in a transaction on 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 sale, the executive vice president now owns 20,404 shares in the company, valued at approximately $8,343,399.64. This represents a 51.98 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,188 shares of company stock valued at $15,624,585. 0.10% of the stock is owned by insiders.

Home Depot Stock Performance

NYSE:HD opened at $429.51 on Friday. The stock’s 50-day moving average is $407.48 and its 200-day moving average is $371.81. The stock has a market cap of $426.66 billion, a P/E ratio of 29.18, a price-to-earnings-growth ratio of 2.97 and a beta of 1.01. The Home Depot, Inc. has a 1-year low of $308.59 and a 1-year high of $439.37. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last announced its quarterly earnings results 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 firm had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the company posted $3.81 EPS. Equities research analysts anticipate that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Announces Dividend

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

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.