The Home Depot, Inc. (NYSE:HD) is Carnegie Lake Advisors LLC’s 8th Largest Position

Carnegie Lake Advisors LLC reduced its stake in shares of The Home Depot, Inc. (NYSE:HD) by 0.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,678 shares of the home improvement retailer’s stock after selling 32 shares during the quarter. Home Depot accounts for approximately 2.2% of Carnegie Lake Advisors LLC’s portfolio, making the stock its 8th largest holding. Carnegie Lake Advisors LLC’s holdings in Home Depot were worth $5,379,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Navigoe LLC acquired a new position in Home Depot during the 4th quarter worth $29,000. Abound Financial LLC acquired a new position in Home Depot during the 1st quarter valued at $31,000. Iron Horse Wealth Management LLC raised its stake in Home Depot by 86.8% during the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer’s stock valued at $36,000 after purchasing an additional 46 shares during the last quarter. Quarry LP raised its stake in shares of Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after buying an additional 66 shares in the last quarter. Finally, Sellwood Investment Partners LLC acquired a new position in shares of Home Depot in the 4th quarter valued at $39,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $398.00 target price (up previously from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. TD Securities downgraded shares of Home Depot to a “buy” rating in a report on Monday, June 2nd. Gordon Haskett raised their target price on shares of Home Depot from $350.00 to $360.00 in a research note on Tuesday, May 20th. Telsey Advisory Group reissued an “outperform” rating and set a $455.00 target price on shares of Home Depot in a report on Monday, June 30th. Finally, Mizuho dropped their target price on shares of Home Depot from $450.00 to $435.00 and set an “outperform” rating for the company in a report on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and a consensus target price of $426.77.

Insider Activity at Home Depot

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total transaction of $954,564.00. Following the transaction, the executive vice president owned 7,951 shares of the company’s stock, valued at $2,919,130.14. This represents a 24.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total value of $1,996,327.68. Following the completion of the transaction, the executive vice president directly owned 17,367 shares in the company, valued at $6,413,285.76. This trade represents a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.

Home Depot Price Performance

NYSE HD opened at $359.32 on Friday. The stock has a 50-day moving average of $366.03 and a 200 day moving average of $374.48. The company has a market capitalization of $357.50 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 3.41 and a beta of 1.00. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.28 and a current ratio of 1.09.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing the consensus estimate of $3.59 by ($0.03). The business had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The business’s revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company earned $3.63 EPS. On average, sell-side analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date was Thursday, June 5th. Home Depot’s dividend payout ratio is currently 62.42%.

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.