Home Depot Inc (HD) Position Lessened by ClariVest Asset Management LLC

ClariVest Asset Management LLC lowered its stake in shares of Home Depot Inc (NYSE:HD) by 7.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 493,748 shares of the home improvement retailer’s stock after selling 37,407 shares during the quarter. Home Depot comprises about 1.7% of ClariVest Asset Management LLC’s holdings, making the stock its 9th largest position. ClariVest Asset Management LLC’s holdings in Home Depot were worth $96,331,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lowe Brockenbrough & Co. Inc. boosted its holdings in Home Depot by 10.0% in the 2nd quarter. Lowe Brockenbrough & Co. Inc. now owns 38,096 shares of the home improvement retailer’s stock valued at $7,433,000 after purchasing an additional 3,455 shares in the last quarter. Aviance Capital Management LLC boosted its holdings in Home Depot by 33.7% in the 2nd quarter. Aviance Capital Management LLC now owns 11,419 shares of the home improvement retailer’s stock valued at $2,228,000 after purchasing an additional 2,879 shares in the last quarter. Azimuth Capital Management LLC boosted its holdings in Home Depot by 0.5% in the 2nd quarter. Azimuth Capital Management LLC now owns 79,208 shares of the home improvement retailer’s stock valued at $15,453,000 after purchasing an additional 366 shares in the last quarter. Gabelli Funds LLC boosted its holdings in Home Depot by 3.1% in the 2nd quarter. Gabelli Funds LLC now owns 237,400 shares of the home improvement retailer’s stock valued at $46,317,000 after purchasing an additional 7,200 shares in the last quarter. Finally, NumerixS Investment Technologies Inc purchased a new stake in Home Depot in the 2nd quarter valued at approximately $3,346,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

HD stock opened at $185.99 on Friday. Home Depot Inc has a 12-month low of $162.93 and a 12-month high of $215.43. The company has a debt-to-equity ratio of 11.60, a current ratio of 1.13 and a quick ratio of 0.37. The company has a market cap of $208.24 billion, a PE ratio of 24.93, a P/E/G ratio of 1.43 and a beta of 1.26.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, August 14th. The home improvement retailer reported $3.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.84 by $0.21. Home Depot had a net margin of 9.45% and a return on equity of 522.68%. The company had revenue of $30.46 billion during the quarter, compared to the consensus estimate of $30.04 billion. During the same period last year, the firm earned $0.59 EPS. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, analysts forecast that Home Depot Inc will post 9.57 earnings per share for the current year.

In related news, EVP William G. Lennie sold 10,854 shares of Home Depot stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $201.64, for a total transaction of $2,188,600.56. Following the completion of the transaction, the executive vice president now directly owns 40,057 shares in the company, valued at approximately $8,077,093.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Matt Carey sold 4,125 shares of Home Depot stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $195.43, for a total value of $806,148.75. Following the transaction, the executive vice president now owns 60,179 shares of the company’s stock, valued at $11,760,781.97. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

A number of equities research analysts have weighed in on HD shares. Wells Fargo & Co reaffirmed a “buy” rating and issued a $230.00 price objective on shares of Home Depot in a report on Sunday, September 16th. Zacks Investment Research raised Home Depot from a “hold” rating to a “buy” rating and set a $228.00 price objective on the stock in a report on Friday, October 5th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $204.00 price objective (down previously from $222.00) on shares of Home Depot in a report on Wednesday, October 17th. ValuEngine lowered Home Depot from a “buy” rating to a “hold” rating in a report on Wednesday, October 17th. Finally, Morgan Stanley lifted their price objective on Home Depot from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Thursday, October 11th. Nine analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Home Depot currently has an average rating of “Buy” and an average price target of $205.28.

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About Home Depot

The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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