Industrial Alliance Investment Management Inc. Has $1.05 Million Stock Position in The Home Depot, Inc. (NYSE:HD)

Industrial Alliance Investment Management Inc. raised its stake in shares of The Home Depot, Inc. (NYSE:HD) by 3.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,728 shares of the home improvement retailer’s stock after purchasing an additional 103 shares during the quarter. Home Depot accounts for 0.4% of Industrial Alliance Investment Management Inc.’s portfolio, making the stock its 29th largest holding. Industrial Alliance Investment Management Inc.’s holdings in Home Depot were worth $1,046,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Bey Douglas LLC bought a new position in Home Depot in the 4th quarter worth approximately $913,000. Hartline Investment Corp raised its position in Home Depot by 3.0% in the 4th quarter. Hartline Investment Corp now owns 15,574 shares of the home improvement retailer’s stock worth $5,397,000 after purchasing an additional 460 shares during the last quarter. Wolf Group Capital Advisors raised its position in Home Depot by 6.1% in the 4th quarter. Wolf Group Capital Advisors now owns 7,513 shares of the home improvement retailer’s stock worth $2,604,000 after purchasing an additional 430 shares during the last quarter. Alliance Wealth Management Group bought a new position in Home Depot in the 4th quarter worth approximately $253,000. Finally, Zullo Investment Group Inc. raised its position in Home Depot by 6.6% in the 4th quarter. Zullo Investment Group Inc. now owns 8,153 shares of the home improvement retailer’s stock worth $2,826,000 after purchasing an additional 504 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Matt Carey sold 56,008 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the completion of the transaction, the executive vice president now directly owns 33,325 shares in the company, valued at approximately $11,503,123.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.10% of the company’s stock.

Home Depot Stock Up 0.5 %

NYSE HD traded up $1.91 on Tuesday, reaching $363.58. The company had a trading volume of 2,788,180 shares, compared to its average volume of 3,404,348. The firm has a market capitalization of $360.53 billion, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 2.48 and a beta of 0.99. The company has a debt-to-equity ratio of 23.11, a quick ratio of 0.42 and a current ratio of 1.34. The Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $396.87. The company’s fifty day moving average is $343.65 and its 200-day moving average is $353.30.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share for the quarter, topping analysts’ consensus estimates of $3.61 by $0.02. The firm had revenue of $36.42 billion during the quarter, compared to analyst estimates of $36.65 billion. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $3.82 EPS. On average, research analysts forecast that The Home Depot, Inc. will post 15.3 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date was Thursday, May 30th. Home Depot’s payout ratio is presently 60.36%.

Analyst Ratings Changes

HD has been the subject of several research analyst reports. Wells Fargo & Company dropped their price objective on shares of Home Depot from $425.00 to $400.00 and set an “overweight” rating for the company in a research report on Thursday, May 9th. Evercore ISI upped their target price on shares of Home Depot from $415.00 to $420.00 and gave the company an “outperform” rating in a research report on Tuesday, May 14th. Raymond James reiterated a “market perform” rating on shares of Home Depot in a research report on Wednesday, May 15th. Guggenheim reiterated a “buy” rating and set a $390.00 target price on shares of Home Depot in a research report on Friday, April 5th. Finally, Bank of America upped their target price on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $381.80.

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.