Connor Clark & Lunn Investment Management Ltd. Has $21.51 Million Position in The Home Depot, Inc. (NYSE:HD)

Connor Clark & Lunn Investment Management Ltd. trimmed its stake in shares of The Home Depot, Inc. (NYSE:HD) by 80.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,074 shares of the home improvement retailer’s stock after selling 211,868 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Home Depot were worth $21,506,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. WFA Asset Management Corp raised its position in shares of Home Depot by 10.7% during the first quarter. WFA Asset Management Corp now owns 1,394 shares of the home improvement retailer’s stock worth $535,000 after acquiring an additional 135 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in shares of Home Depot by 5.8% during the first quarter. China Universal Asset Management Co. Ltd. now owns 11,421 shares of the home improvement retailer’s stock valued at $4,381,000 after acquiring an additional 623 shares in the last quarter. Capital Group Private Client Services Inc. lifted its stake in shares of Home Depot by 10.3% in the first quarter. Capital Group Private Client Services Inc. now owns 3,527 shares of the home improvement retailer’s stock valued at $1,353,000 after buying an additional 330 shares in the last quarter. Stonebridge Capital Advisors LLC increased its holdings in Home Depot by 2.3% during the 1st quarter. Stonebridge Capital Advisors LLC now owns 54,014 shares of the home improvement retailer’s stock worth $20,720,000 after purchasing an additional 1,190 shares in the last quarter. Finally, Truvestments Capital LLC raised its position in Home Depot by 568.9% in the 1st quarter. Truvestments Capital LLC now owns 5,478 shares of the home improvement retailer’s stock valued at $2,101,000 after buying an additional 4,659 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Home Depot Trading Down 1.7 %

Home Depot stock opened at $399.98 on Thursday. The Home Depot, Inc. has a 12 month low of $302.34 and a 12 month high of $421.56. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The business’s fifty day simple moving average is $401.72 and its two-hundred day simple moving average is $368.01. The company has a market capitalization of $397.30 billion, a price-to-earnings ratio of 27.17, a price-to-earnings-growth ratio of 2.84 and a beta of 1.01.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating the consensus estimate of $3.64 by $0.14. The company had revenue of $40.22 billion for the quarter, compared to the consensus estimate of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the prior year, the firm posted $3.81 EPS. As a group, equities analysts predict that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be issued a $2.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a yield of 2.25%. Home Depot’s payout ratio is currently 61.14%.

Insider Activity at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 22,084 shares of Home Depot stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the transaction, the executive vice president now owns 20,404 shares in the company, valued at $8,343,399.64. This trade represents a 51.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Timothy A. Hourigan sold 16,004 shares of the 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 completion of the sale, the executive vice president now directly owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. This trade represents a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada upped their price objective on shares of Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a research report on Monday, November 11th. Melius Research started coverage on Home Depot in a report on Monday, September 23rd. They issued a “buy” rating and a $420.00 target price for the company. Stifel Nicolaus lifted their price target on Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Oppenheimer upped their price objective on Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research note on Tuesday, September 24th. Finally, Telsey Advisory Group raised shares of Home Depot from a “market perform” rating to an “outperform” rating and increased their target price for the company from $360.00 to $455.00 in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Company Profile

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.