The Home Depot, Inc. (NYSE:HD) Shares Purchased by Connecticut Wealth Management LLC

Connecticut Wealth Management LLC raised its stake in The Home Depot, Inc. (NYSE:HD) by 3.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,571 shares of the home improvement retailer’s stock after acquiring an additional 546 shares during the period. Connecticut Wealth Management LLC’s holdings in Home Depot were worth $5,016,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in HD. Empirical Finance LLC grew its position in Home Depot by 3.3% during the 1st quarter. Empirical Finance LLC now owns 37,127 shares of the home improvement retailer’s stock worth $14,242,000 after purchasing an additional 1,195 shares during the last quarter. Commonwealth Retirement Investments LLC increased its position in Home Depot by 5.5% in the 1st quarter. Commonwealth Retirement Investments LLC now owns 18,628 shares of the home improvement retailer’s stock valued at $7,146,000 after acquiring an additional 965 shares during the period. Leeward Financial Partners LLC raised its stake in Home Depot by 7.3% during the 1st quarter. Leeward Financial Partners LLC now owns 10,431 shares of the home improvement retailer’s stock valued at $4,001,000 after acquiring an additional 711 shares during the last quarter. Sanibel Captiva Trust Company Inc. acquired a new stake in Home Depot during the 4th quarter worth approximately $88,708,000. Finally, Johnson & White Wealth Management LLC grew its stake in shares of Home Depot by 6.2% in the 1st quarter. Johnson & White Wealth Management LLC now owns 4,200 shares of the home improvement retailer’s stock valued at $1,611,000 after purchasing an additional 247 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Down 0.1 %

HD stock opened at $389.97 on Friday. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. The company’s 50 day simple moving average is $364.95 and its 200-day simple moving average is $354.45. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $396.87. The firm has a market capitalization of $386.70 billion, a PE ratio of 26.15, a P/E/G ratio of 2.57 and a beta of 1.00.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The firm had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. During the same quarter in the prior year, the firm earned $4.65 EPS. Home Depot’s quarterly revenue was up .6% on a year-over-year basis. Equities analysts expect that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s payout ratio is 60.36%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HD. Evercore ISI cut their price target on Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. Royal Bank of Canada reduced their target price on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 14th. Daiwa America upgraded shares of Home Depot to a “hold” rating in a research note on Thursday, August 15th. Truist Financial reduced their price objective on shares of Home Depot from $396.00 to $395.00 and set a “buy” rating for the company in a research report on Wednesday, August 14th. Finally, StockNews.com lowered Home Depot from a “buy” rating to a “hold” rating in a report on Saturday, May 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $389.04.

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.