Lipe & Dalton Raises Stake in The Home Depot, Inc. (NYSE:HD)

Lipe & Dalton boosted its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 10.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,020 shares of the home improvement retailer’s stock after acquiring an additional 100 shares during the period. Lipe & Dalton’s holdings in Home Depot were worth $374,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of HD. Navigoe LLC purchased a new position in Home Depot in the fourth quarter worth about $29,000. Abound Financial LLC purchased a new position in Home Depot in the first quarter worth about $31,000. Iron Horse Wealth Management LLC raised its holdings in Home Depot by 86.8% in the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer’s stock worth $36,000 after buying an additional 46 shares during the last quarter. Quarry LP raised its holdings in Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after buying an additional 66 shares during the last quarter. Finally, Sellwood Investment Partners LLC purchased a new position in Home Depot in the fourth quarter worth about $39,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HD has been the subject of several recent analyst reports. Stifel Nicolaus raised shares of Home Depot from a “hold” rating to a “buy” rating and lifted their target price for the stock from $405.00 to $425.00 in a report on Wednesday, May 21st. Royal Bank Of Canada reduced their price target on shares of Home Depot from $424.00 to $399.00 and set a “sector perform” rating for the company in a research note on Thursday, May 15th. Gordon Haskett lifted their price target on shares of Home Depot from $350.00 to $360.00 in a research note on Tuesday, May 20th. Mizuho lowered their price target on shares of Home Depot from $450.00 to $435.00 and set an “outperform” rating on the stock in a report on Wednesday, May 21st. Finally, Piper Sandler lowered their price target on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. Seven research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $426.77.

Insider Activity

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,406 shares of the stock in a transaction dated Wednesday, May 28th. The shares were 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. This represents a 23.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $954,564.00. Following the sale, the executive vice president directly owned 7,951 shares of the company’s stock, valued at approximately $2,919,130.14. The trade was a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.

Home Depot Trading Down 0.2%

Shares of NYSE HD traded down $0.81 during mid-day trading on Friday, reaching $358.23. The company had a trading volume of 653,760 shares, compared to its average volume of 3,423,893. The business’s 50-day moving average is $366.09 and its 200-day moving average is $374.69. The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 5.95. The stock has a market cap of $356.41 billion, a price-to-earnings ratio of 24.31, a price-to-earnings-growth ratio of 3.40 and a beta of 1.00. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37.

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

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were issued a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot’s payout ratio is 62.42%.

Home Depot Company 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.