Prudential Financial Inc. Cuts Stake in Home Depot Inc (HD)
Prudential Financial Inc. trimmed its position in Home Depot Inc (NYSE:HD) by 0.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,736,272 shares of the home improvement retailer’s stock after selling 12,647 shares during the period. Prudential Financial Inc.’s holdings in Home Depot were worth $283,984,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Atlantic Trust LLC lifted its holdings in shares of Home Depot by 12.8% in the second quarter. Atlantic Trust LLC now owns 20,332 shares of the home improvement retailer’s stock valued at $3,119,000 after purchasing an additional 2,309 shares in the last quarter. APG Asset Management N.V. lifted its holdings in shares of Home Depot by 6.3% in the third quarter. APG Asset Management N.V. now owns 2,242,180 shares of the home improvement retailer’s stock valued at $366,731,000 after purchasing an additional 133,300 shares in the last quarter. IFP Advisors Inc raised its holdings in Home Depot by 3.0% during the second quarter. IFP Advisors Inc now owns 73,631 shares of the home improvement retailer’s stock worth $11,295,000 after acquiring an additional 2,133 shares in the last quarter. Smithfield Trust Co. raised its holdings in Home Depot by 0.3% during the second quarter. Smithfield Trust Co. now owns 8,387 shares of the home improvement retailer’s stock worth $1,287,000 after acquiring an additional 25 shares in the last quarter. Finally, BP PLC raised its holdings in Home Depot by 16.2% during the second quarter. BP PLC now owns 179,000 shares of the home improvement retailer’s stock worth $27,459,000 after acquiring an additional 25,000 shares in the last quarter. Institutional investors own 70.18% of the company’s stock.
In other Home Depot news, EVP Matt Carey sold 41,396 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $183.03, for a total value of $7,576,709.88. Following the sale, the executive vice president now owns 29,559 shares in the company, valued at $5,410,183.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is owned by corporate insiders.
Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, November 14th. The home improvement retailer reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.03. The firm had revenue of $25.03 billion for the quarter, compared to analyst estimates of $24.53 billion. Home Depot had a return on equity of 238.88% and a net margin of 8.66%. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.60 earnings per share. equities research analysts forecast that Home Depot Inc will post 7.38 EPS for the current fiscal year.
Home Depot declared that its board has approved a stock repurchase plan on Wednesday, December 6th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the home improvement retailer to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.
HD has been the topic of several analyst reports. BTIG Research upped their target price on Home Depot to $215.00 and gave the stock a “buy” rating in a report on Thursday, December 7th. Argus upped their target price on Home Depot from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, November 15th. Oppenheimer set a $178.00 target price on Home Depot and gave the stock a “buy” rating in a report on Tuesday, November 14th. SunTrust Banks upped their target price on Home Depot to $167.00 and gave the stock a “hold” rating in a report on Wednesday, November 15th. Finally, Telsey Advisory Group upped their target price on Home Depot from $175.00 to $180.00 and gave the stock an “outperform” rating in a report on Wednesday, November 15th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $183.28.
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.
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