Securian Asset Management Inc. Cuts Stake in The Home Depot, Inc. (NYSE:HD)

Securian Asset Management Inc. cut its stake in shares of The Home Depot, Inc. (NYSE:HD) by 12.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 63,337 shares of the home improvement retailer’s stock after selling 8,810 shares during the quarter. Home Depot comprises approximately 0.6% of Securian Asset Management Inc.’s portfolio, making the stock its 26th biggest position. Securian Asset Management Inc.’s holdings in Home Depot were worth $21,949,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Level Four Advisory Services LLC grew its stake in shares of Home Depot by 8.7% in the fourth quarter. Level Four Advisory Services LLC now owns 33,211 shares of the home improvement retailer’s stock worth $11,509,000 after acquiring an additional 2,648 shares during the period. Arjuna Capital grew its position in Home Depot by 28.5% in the 4th quarter. Arjuna Capital now owns 24,781 shares of the home improvement retailer’s stock worth $8,588,000 after purchasing an additional 5,498 shares during the period. NorthRock Partners LLC grew its position in Home Depot by 12.2% in the 4th quarter. NorthRock Partners LLC now owns 7,037 shares of the home improvement retailer’s stock worth $2,439,000 after purchasing an additional 764 shares during the period. Wafra Inc. raised its stake in Home Depot by 152.9% during the 4th quarter. Wafra Inc. now owns 14,762 shares of the home improvement retailer’s stock valued at $5,116,000 after buying an additional 8,925 shares during the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc lifted its holdings in shares of Home Depot by 39.4% during the 4th quarter. Texas Capital Bank Wealth Management Services Inc now owns 33,351 shares of the home improvement retailer’s stock valued at $11,558,000 after buying an additional 9,418 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

Shares of Home Depot stock traded up $1.48 during trading on Friday, reaching $344.21. 2,739,006 shares of the stock traded hands, compared to its average volume of 3,515,366. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $396.87. The company has a debt-to-equity ratio of 23.11, a current ratio of 1.34 and a quick ratio of 0.40. The business has a fifty day simple moving average of $354.88 and a two-hundred day simple moving average of $346.60. The company has a market capitalization of $341.12 billion, a price-to-earnings ratio of 23.09, a P/E/G ratio of 2.31 and a beta of 1.01.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share for the quarter, beating the consensus estimate of $3.61 by $0.02. The business had revenue of $36.42 billion during the quarter, compared to analysts’ expectations of $36.65 billion. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $3.82 EPS. Sell-side analysts expect that The Home Depot, Inc. will post 15.3 EPS for the current year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 30th will be paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Thursday, May 30th. Home Depot’s payout ratio is 60.36%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on HD. Bank of America upped their price objective on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Monday, April 1st. StockNews.com raised shares of Home Depot from a “hold” rating to a “buy” rating in a research report on Friday. Stifel Nicolaus raised their price objective on shares of Home Depot from $355.00 to $366.00 and gave the stock a “hold” rating in a report on Friday, February 16th. TD Cowen reduced their target price on shares of Home Depot from $440.00 to $420.00 and set a “buy” rating for the company in a report on Wednesday. Finally, UBS Group dropped their price target on shares of Home Depot from $411.00 to $400.00 and set a “buy” rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $377.46.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the sale, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Edward P. Decker sold 35,987 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the sale, the chief executive officer now owns 107,731 shares in the company, valued at approximately $39,712,878.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Timothy A. Hourigan sold 8,996 shares of Home Depot stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the transaction, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.

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.