Pensionfund Sabic Trims Position in The Home Depot, Inc. (NYSE:HD)

Pensionfund Sabic lessened its position in shares of The Home Depot, Inc. (NYSE:HD) by 18.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,400 shares of the home improvement retailer’s stock after selling 1,700 shares during the quarter. Home Depot accounts for 0.9% of Pensionfund Sabic’s portfolio, making the stock its 20th biggest holding. Pensionfund Sabic’s holdings in Home Depot were worth $2,998,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of HD. Abacus Wealth Partners LLC increased its holdings in Home Depot by 3.7% in the 3rd quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock valued at $285,000 after buying an additional 25 shares during the period. Ruedi Wealth Management Inc. lifted its position in shares of Home Depot by 1.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock valued at $817,000 after acquiring an additional 27 shares during the period. Acorn Creek Capital LLC increased its stake in Home Depot by 3.4% during the 2nd quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock valued at $291,000 after purchasing an additional 28 shares in the last quarter. Talisman Wealth Advisors LLC grew its stake in shares of Home Depot by 1.2% in the 1st quarter. Talisman Wealth Advisors LLC now owns 2,385 shares of the home improvement retailer’s stock worth $915,000 after acquiring an additional 29 shares in the last quarter. Finally, LMG Wealth Partners LLC grew its position in Home Depot by 1.7% during the second quarter. LMG Wealth Partners LLC now owns 1,709 shares of the home improvement retailer’s stock valued at $588,000 after buying an additional 29 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on HD shares. Guggenheim boosted their price objective on Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Evercore ISI dropped their price objective on Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. Jefferies Financial Group assumed coverage on Home Depot in a report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 target price on the stock. Stifel Nicolaus decreased their price objective on Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. Finally, Daiwa America raised Home Depot to a “hold” rating in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat, Home Depot has an average rating of “Moderate Buy” and an average target price of $402.38.

Home Depot Stock Performance

Shares of HD opened at $416.07 on Thursday. The company has a market cap of $412.58 billion, a PE ratio of 27.91, a price-to-earnings-growth ratio of 2.71 and a beta of 1.00. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. The firm has a 50-day moving average of $376.18 and a 200-day moving average of $356.72. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $420.03.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The firm had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. During the same period in the previous year, the firm posted $4.65 EPS. The company’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, equities analysts forecast that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio is currently 60.36%.

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.