Manitou Investment Management Ltd. Sells 7,441 Shares of The Home Depot, Inc. (NYSE:HD)

Manitou Investment Management Ltd. lessened its holdings in The Home Depot, Inc. (NYSE:HD) by 9.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 73,922 shares of the home improvement retailer’s stock after selling 7,441 shares during the quarter. Home Depot accounts for approximately 5.7% of Manitou Investment Management Ltd.’s holdings, making the stock its 8th largest holding. Manitou Investment Management Ltd.’s holdings in Home Depot were worth $28,755,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Legacy Investment Solutions LLC acquired a new stake in Home Depot during the 3rd quarter worth about $41,000. Sugar Maple Asset Management LLC acquired a new stake in shares of Home Depot during the fourth quarter worth about $41,000. Livelsberger Financial Advisory purchased a new stake in Home Depot in the third quarter valued at approximately $46,000. Strategic Investment Solutions Inc. IL acquired a new position in Home Depot in the 2nd quarter worth approximately $47,000. Finally, Quarry LP raised its position in Home Depot by 36.0% during the 2nd quarter. Quarry LP now owns 136 shares of the home improvement retailer’s stock worth $47,000 after buying an additional 36 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analyst Ratings Changes

HD has been the topic of a number of research reports. Barclays increased their price objective on shares of Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Stifel Nicolaus increased their price target on Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Evercore ISI upped their target price on Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Piper Sandler raised their target price on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Finally, Mizuho boosted their price target on Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $426.00.

Insiders Place Their Bets

In other news, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction on Monday, November 18th. The stock was sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the transaction, the executive vice president now owns 77,475 shares in the company, valued at $31,727,562. The trade was a 17.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ann Marie Campbell sold 100 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total transaction of $40,258.00. Following the completion of the sale, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at $5,018,159.70. This represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,188 shares of company stock valued at $15,624,585. Insiders own 0.10% of the company’s stock.

Home Depot Trading Up 0.0 %

Shares of HD opened at $414.53 on Friday. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. The stock has a market cap of $411.77 billion, a PE ratio of 28.16, a price-to-earnings-growth ratio of 4.32 and a beta of 1.05. The firm’s fifty day moving average is $407.14 and its two-hundred day moving average is $390.16. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. The firm had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the business posted $3.81 earnings per share. Research analysts forecast that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a yield of 2.17%. Home Depot’s payout ratio is 61.14%.

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.