Orleans Capital Management Corp LA Has $4.87 Million Stake in Home Depot Inc (HD)
Orleans Capital Management Corp LA trimmed its position in Home Depot Inc (NYSE:HD) by 3.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 29,800 shares of the home improvement retailer’s stock after selling 1,063 shares during the period. Home Depot accounts for approximately 3.6% of Orleans Capital Management Corp LA’s investment portfolio, making the stock its biggest position. Orleans Capital Management Corp LA’s holdings in Home Depot were worth $4,874,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in HD. Vanguard Group Inc. raised its position in Home Depot by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 80,417,310 shares of the home improvement retailer’s stock worth $12,336,016,000 after purchasing an additional 703,292 shares during the last quarter. Capital Research Global Investors raised its position in Home Depot by 0.9% during the 2nd quarter. Capital Research Global Investors now owns 20,025,701 shares of the home improvement retailer’s stock worth $3,071,943,000 after purchasing an additional 170,139 shares during the last quarter. Northern Trust Corp raised its position in Home Depot by 1.3% during the 2nd quarter. Northern Trust Corp now owns 17,333,833 shares of the home improvement retailer’s stock worth $2,659,010,000 after purchasing an additional 222,958 shares during the last quarter. Alliancebernstein L.P. raised its position in Home Depot by 1.1% during the 2nd quarter. Alliancebernstein L.P. now owns 8,027,935 shares of the home improvement retailer’s stock worth $1,231,485,000 after purchasing an additional 84,750 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in Home Depot by 4.3% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 6,089,219 shares of the home improvement retailer’s stock worth $995,953,000 after purchasing an additional 249,947 shares during the last quarter. Institutional investors own 70.36% of the company’s stock.
Several research analysts recently issued reports on the company. Credit Suisse Group raised their target price on Home Depot from $183.00 to $222.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Stifel Nicolaus raised their target price on Home Depot from $209.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $220.00 target price (up from $190.00) on shares of Home Depot in a research report on Friday, January 19th. Jefferies Group reaffirmed a “buy” rating and set a $223.00 target price on shares of Home Depot in a research report on Monday, February 5th. Finally, Oppenheimer reaffirmed a “buy” rating on shares of Home Depot in a research report on Tuesday, December 26th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. Home Depot currently has a consensus rating of “Buy” and a consensus price target of $193.15.
Home Depot (NYSE:HD) last issued its earnings results on Tuesday, February 20th. The home improvement retailer reported $1.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.62 by $0.07. The company had revenue of $23.88 billion during the quarter, compared to the consensus estimate of $23.65 billion. Home Depot had a return on equity of 306.73% and a net margin of 8.55%. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period last year, the business posted $1.44 EPS. analysts anticipate that Home Depot Inc will post 9.41 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Thursday, March 8th will be paid a $1.03 dividend. The ex-dividend date is Wednesday, March 7th. This is an increase from Home Depot’s previous quarterly dividend of $0.89. This represents a $4.12 annualized dividend and a dividend yield of 2.31%. Home Depot’s dividend payout ratio (DPR) is currently 48.90%.
Home Depot declared that its board has initiated a share repurchase plan on Wednesday, December 6th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the home improvement retailer to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.
In other Home Depot news, CEO Craig A. Menear sold 113,687 shares of Home Depot stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $183.79, for a total transaction of $20,894,533.73. Following the completion of the transaction, the chief executive officer now owns 237,957 shares in the company, valued at approximately $43,734,117.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Matt Carey sold 41,396 shares of Home Depot stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $183.03, for a total value of $7,576,709.88. Following the transaction, the executive vice president now owns 29,559 shares of the company’s stock, valued at approximately $5,410,183.77. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 210,423 shares of company stock valued at $38,797,592. 0.26% of the stock is currently owned by company insiders.
ILLEGAL ACTIVITY WARNING: “Orleans Capital Management Corp LA Has $4.87 Million Stake in Home Depot Inc (HD)” was published by Watch List News and is owned by of Watch List News. If you are accessing this news story on another website, it was copied illegally and republished in violation of U.S. & international copyright legislation. The original version of this news story can be accessed at https://www.watchlistnews.com/orleans-capital-management-corp-la-has-4-87-million-stake-in-home-depot-inc-hd/1906550.html.
Home Depot Company Profile
The Home Depot, Inc (The Home Depot) is a home improvement retailer. The Company sells an assortment of building materials, home improvement products, and lawn and garden products, and provides various services. The Home Depot stores serves three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.
Want to see what other hedge funds are holding HD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Home Depot Inc (NYSE:HD).
Receive News & Ratings for Home Depot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Home Depot and related companies with MarketBeat.com's FREE daily email newsletter.