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Arrow Financial Corp Cuts Holdings in The Home Depot, Inc. (NYSE:HD)

Financial News Live · Jan 27, 2023 16:13

Arrow Financial Corp decreased its stake in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 0.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,865 shares of the home improvement retailer's stock after selling 261 shares during the quarter. Home Depot makes up 1.1% of Arrow Financial Corp's investment portfolio, making the stock its 20th biggest holding. Arrow Financial Corp's holdings in Home Depot were worth $7,689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of HD. Heartwood Wealth Advisors LLC boosted its position in shares of Home Depot by 4.1% during the 3rd quarter. Heartwood Wealth Advisors LLC now owns 1,582 shares of the home improvement retailer's stock worth $437,000 after acquiring an additional 63 shares in the last quarter. Adell Harriman & Carpenter Inc. boosted its position in shares of Home Depot by 7.6% during the 2nd quarter. Adell Harriman & Carpenter Inc. now owns 62,508 shares of the home improvement retailer's stock worth $17,144,000 after acquiring an additional 4,419 shares in the last quarter. Baystate Wealth Management LLC boosted its position in shares of Home Depot by 0.9% during the 2nd quarter. Baystate Wealth Management LLC now owns 4,784 shares of the home improvement retailer's stock worth $1,312,000 after acquiring an additional 41 shares in the last quarter. LeJeune Puetz Investment Counsel LLC boosted its position in shares of Home Depot by 9.3% in the 2nd quarter. LeJeune Puetz Investment Counsel LLC now owns 10,600 shares of the home improvement retailer's stock valued at $2,907,000 after purchasing an additional 905 shares during the period. Finally, Gabalex Capital Management LLC boosted its position in shares of Home Depot by 5.3% in the 2nd quarter. Gabalex Capital Management LLC now owns 50,000 shares of the home improvement retailer's stock valued at $13,714,000 after purchasing an additional 2,500 shares during the period. Hedge funds and other institutional investors own 68.31% of the company's stock.

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Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Fahim Siddiqui sold 2,000 shares of the stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $311.29, for a total transaction of $622,580.00. Following the sale, the executive vice president now owns 3,928 shares in the company, valued at approximately $1,222,747.12. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Home Depot news, Director Paula Santilli acquired 1,583 shares of the firm's stock in a transaction dated Wednesday, November 16th. The shares were acquired at an average price of $315.80 per share, for a total transaction of $499,911.40. Following the completion of the acquisition, the director now directly owns 1,583 shares of the company's stock, valued at $499,911.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Fahim Siddiqui sold 2,000 shares of the firm's stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $311.29, for a total value of $622,580.00. Following the sale, the executive vice president now owns 3,928 shares in the company, valued at approximately $1,222,747.12. The disclosure for this sale can be found here. 0.17% of the stock is owned by insiders.

Home Depot Price Performance

NYSE HD traded up $0.50 during mid-day trading on Friday, hitting $314.31. The stock had a trading volume of 190,066 shares, compared to its average volume of 3,014,426. The Home Depot, Inc. has a 52-week low of $264.51 and a 52-week high of $374.67. The company has a market cap of $321.77 billion, a price-to-earnings ratio of 18.92, a P/E/G ratio of 1.70 and a beta of 0.95. The company has a 50 day simple moving average of $320.91 and a 200 day simple moving average of $303.15. The company has a quick ratio of 0.33, a current ratio of 1.39 and a debt-to-equity ratio of 32.16.

Home Depot (NYSE:HD – Get Rating) last announced its earnings results on Tuesday, November 15th. The home improvement retailer reported $4.24 EPS for the quarter, beating analysts' consensus estimates of $4.11 by $0.13. The firm had revenue of $38.87 billion for the quarter, compared to analysts' expectations of $37.96 billion. Home Depot had a negative return on equity of 3,656.69% and a net margin of 10.87%. Home Depot's quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.92 EPS. Equities analysts forecast that The Home Depot, Inc. will post 16.64 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st were issued a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend was Wednesday, November 30th. Home Depot's dividend payout ratio (DPR) is presently 45.81%.

Analyst Ratings Changes

HD has been the subject of a number of research analyst reports. Cowen upped their target price on Home Depot from $350.00 to $379.00 and gave the company an "outperform" rating in a research report on Tuesday, December 13th. Piper Sandler decreased their target price on Home Depot from $327.00 to $323.00 and set a "neutral" rating for the company in a research report on Wednesday, November 16th. Wedbush decreased their target price on Home Depot to $280.00 in a research report on Wednesday, November 16th. JPMorgan Chase & Co. decreased their target price on Home Depot from $347.00 to $300.00 in a research report on Friday, November 11th. Finally, StockNews.com cut Home Depot from a "buy" rating to a "hold" rating in a research report on Monday, November 21st. Nine analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $341.24.

About Home Depot

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The Home Depot, Inc engages in the sale of building materials and home improvement products. Its products include building materials, home improvement products, lawn and garden products and decor products. The firm operates through the following geographical segments: U.S., Canada and Mexico. It offers home improvement installation services, and tool and equipment rental.