Conning Inc. Boosts Stake in The Home Depot, Inc. (NYSE:HD)

Conning Inc. increased its stake in The Home Depot, Inc. (NYSE:HD) by 3.3% during the first quarter, Holdings Channel.com reports. The firm owned 96,801 shares of the home improvement retailer’s stock after purchasing an additional 3,057 shares during the quarter. Conning Inc.’s holdings in Home Depot were worth $35,477,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Wealth Management Partners LLC raised its stake in shares of Home Depot by 0.6% in the first quarter. Wealth Management Partners LLC now owns 6,506 shares of the home improvement retailer’s stock worth $2,384,000 after buying an additional 36 shares during the period. Ashton Thomas Private Wealth LLC raised its stake in Home Depot by 19.5% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock worth $9,242,000 after acquiring an additional 3,873 shares during the period. Arbor Capital Management Inc. ADV raised its stake in Home Depot by 4.8% during the 1st quarter. Arbor Capital Management Inc. ADV now owns 4,784 shares of the home improvement retailer’s stock worth $1,757,000 after acquiring an additional 221 shares during the period. Disciplined Investors L.L.C. purchased a new position in Home Depot during the fourth quarter valued at approximately $409,000. Finally, ARS Wealth Advisors Group LLC boosted its position in shares of Home Depot by 0.8% in the first quarter. ARS Wealth Advisors Group LLC now owns 31,728 shares of the home improvement retailer’s stock worth $11,628,000 after purchasing an additional 239 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Trading Down 0.1%

Shares of NYSE HD opened at $371.36 on Friday. The stock has a market capitalization of $369.47 billion, a P/E ratio of 25.19, a PEG ratio of 3.54 and a beta of 1.00. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37. The business’s 50 day moving average is $364.86 and its two-hundred day moving average is $376.59. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing the consensus estimate of $3.59 by ($0.03). The company had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.63 EPS. As a group, research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were paid a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot’s dividend payout ratio is currently 62.42%.

Insider Buying and Selling at Home Depot

In related news, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total value of $954,564.00. Following the sale, the executive vice president directly owned 7,951 shares of the company’s stock, valued at $2,919,130.14. This represents a 24.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the completion of the sale, the executive vice president directly owned 17,367 shares of the company’s stock, valued at approximately $6,413,285.76. The trade was a 23.74% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on HD. Stifel Nicolaus upgraded shares of Home Depot from a “hold” rating to a “buy” rating and lifted their target price for the company from $405.00 to $425.00 in a research note on Wednesday, May 21st. Mizuho dropped their price objective on Home Depot from $450.00 to $435.00 and set an “outperform” rating for the company in a research note on Wednesday, May 21st. Truist Financial lifted their target price on Home Depot from $393.00 to $417.00 and gave the company a “buy” rating in a research note on Tuesday, May 20th. Morgan Stanley restated an “overweight” rating and issued a $415.00 price target (up from $410.00) on shares of Home Depot in a research note on Tuesday, May 20th. Finally, Robert W. Baird reduced their price objective on shares of Home Depot from $430.00 to $425.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 21st. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $426.77.

Home Depot Profile

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.