Prossimo Advisors LLC Purchases New Shares in The Home Depot, Inc. (NYSE:HD)

Prossimo Advisors LLC acquired a new position in shares of The Home Depot, Inc. (NYSE:HD) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,082 shares of the home improvement retailer’s stock, valued at approximately $2,438,000. Home Depot accounts for 2.2% of Prossimo Advisors LLC’s portfolio, making the stock its 6th largest position.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HD. Orgel Wealth Management LLC lifted its position in shares of Home Depot by 9.4% in the second quarter. Orgel Wealth Management LLC now owns 596 shares of the home improvement retailer’s stock valued at $205,000 after acquiring an additional 51 shares in the last quarter. Bay Rivers Group raised its position in shares of Home Depot by 1.6% in the second quarter. Bay Rivers Group now owns 9,011 shares of the home improvement retailer’s stock valued at $3,102,000 after buying an additional 143 shares during the last quarter. Centennial Wealth Advisory LLC lifted its stake in shares of Home Depot by 13.7% in the second quarter. Centennial Wealth Advisory LLC now owns 1,035 shares of the home improvement retailer’s stock worth $356,000 after buying an additional 125 shares in the last quarter. Oak Harvest Investment Services boosted its position in Home Depot by 3.4% during the second quarter. Oak Harvest Investment Services now owns 32,360 shares of the home improvement retailer’s stock worth $11,140,000 after acquiring an additional 1,062 shares during the last quarter. Finally, Fifth Third Bancorp grew its stake in Home Depot by 0.3% during the 2nd quarter. Fifth Third Bancorp now owns 941,437 shares of the home improvement retailer’s stock valued at $324,080,000 after acquiring an additional 2,797 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Up 0.9 %

Shares of HD stock traded up $3.17 during trading on Wednesday, reaching $370.44. The company’s stock had a trading volume of 4,586,706 shares, compared to its average volume of 3,438,939. The company has a market capitalization of $367.33 billion, a price-to-earnings ratio of 24.85, a P/E/G ratio of 2.48 and a beta of 0.98. The Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $396.87. The company has a debt-to-equity ratio of 23.11, a current ratio of 1.34 and a quick ratio of 0.42. The stock’s 50-day moving average price is $352.51 and its 200 day moving average price is $353.44.

Home Depot (NYSE:HD) last posted its quarterly earnings data 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. The business had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The company’s revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.65 earnings per share. On average, research analysts anticipate that The Home Depot, Inc. will post 15.28 EPS for the current year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th will be given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Thursday, August 29th. Home Depot’s dividend payout ratio is currently 60.36%.

Analyst Ratings Changes

HD has been the subject of a number of analyst reports. UBS Group upped their price target on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Wells Fargo & Company reduced their price target on Home Depot from $425.00 to $400.00 and set an “overweight” rating on the stock in a report on Thursday, May 9th. TD Cowen dropped their price objective on shares of Home Depot from $440.00 to $420.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. StockNews.com downgraded shares of Home Depot from a “buy” rating to a “hold” rating in a research note on Saturday, May 25th. Finally, Loop Capital dropped their price target on shares of Home Depot from $360.00 to $330.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $386.33.

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.