Pinebridge Investments L.P. grew its stake in shares of Home Depot Inc (NYSE:HD) by 14.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 165,941 shares of the home improvement retailer’s stock after purchasing an additional 20,359 shares during the quarter. Home Depot makes up approximately 0.8% of Pinebridge Investments L.P.’s investment portfolio, making the stock its 20th largest position. Pinebridge Investments L.P.’s holdings in Home Depot were worth $32,375,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of the company. HC Financial Advisors Inc. acquired a new position in shares of Home Depot in the 4th quarter worth approximately $3,778,000. Ffcm LLC boosted its holdings in shares of Home Depot by 14.4% in the 1st quarter. Ffcm LLC now owns 111,362 shares of the home improvement retailer’s stock worth $19,850,000 after acquiring an additional 14,034 shares in the last quarter. Sandy Spring Bank boosted its holdings in shares of Home Depot by 1.9% in the 1st quarter. Sandy Spring Bank now owns 70,354 shares of the home improvement retailer’s stock worth $12,540,000 after acquiring an additional 1,293 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new position in shares of Home Depot in the 1st quarter worth approximately $3,823,000. Finally, Lyell Wealth Management LP boosted its holdings in shares of Home Depot by 4.8% in the 1st quarter. Lyell Wealth Management LP now owns 22,251 shares of the home improvement retailer’s stock worth $3,966,000 after acquiring an additional 1,019 shares in the last quarter. 69.24% of the stock is owned by hedge funds and other institutional investors.
HD has been the topic of several recent analyst reports. Loop Capital set a $200.00 target price on Home Depot and gave the stock a “hold” rating in a report on Wednesday, July 11th. Zacks Investment Research raised Home Depot from a “hold” rating to a “buy” rating and set a $223.00 price objective on the stock in a report on Tuesday, July 17th. Citigroup upped their price objective on Home Depot from $205.00 to $220.00 and gave the stock a “positive” rating in a report on Friday, August 10th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $203.00 price objective on shares of Home Depot in a report on Thursday, August 16th. Finally, Jefferies Financial Group began coverage on Home Depot in a report on Tuesday, August 21st. They set a “buy” rating and a $228.00 price objective on the stock. Nine equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Home Depot currently has an average rating of “Buy” and a consensus target price of $205.28.
Home Depot (NYSE:HD) last issued its earnings results on Tuesday, August 14th. The home improvement retailer reported $3.05 EPS for the quarter, beating the consensus estimate of $2.84 by $0.21. The company had revenue of $30.46 billion during the quarter, compared to analysts’ expectations of $30.04 billion. Home Depot had a net margin of 9.45% and a return on equity of 522.68%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 EPS. As a group, sell-side analysts forecast that Home Depot Inc will post 9.58 EPS for the current year.
In related news, EVP Matt Carey sold 4,125 shares of the company’s stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $195.43, for a total value of $806,148.75. Following the completion of the transaction, the executive vice president now directly owns 60,179 shares of the company’s stock, valued at approximately $11,760,781.97. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP William G. Lennie sold 10,854 shares of the company’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $201.64, for a total transaction of $2,188,600.56. Following the completion of the transaction, the executive vice president now directly owns 40,057 shares of the company’s stock, valued at $8,077,093.48. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.
About Home Depot
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 provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
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