Duff & Phelps Investment Management Co. Sells 9,243 Shares of The Home Depot, Inc. (NYSE:HD)

Duff & Phelps Investment Management Co. lowered its position in The Home Depot, Inc. (NYSE:HD) by 80.2% in the second quarter, HoldingsChannel.com reports. The fund owned 2,284 shares of the home improvement retailer’s stock after selling 9,243 shares during the quarter. Duff & Phelps Investment Management Co.’s holdings in Home Depot were worth $786,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Fairway Wealth LLC bought a new position in Home Depot in the 2nd quarter valued at about $25,000. Frank Rimerman Advisors LLC acquired a new position in Home Depot during the fourth quarter valued at approximately $27,000. Kings Path Partners LLC bought a new stake in Home Depot during the second quarter worth $33,000. A.P. Gilfoyle & Co. L.P. bought a new position in shares of Home Depot in the 1st quarter valued at $38,000. Finally, Livelsberger Financial Advisory bought a new stake in shares of Home Depot during the 4th quarter worth $39,000. Institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on HD shares. Royal Bank of Canada dropped 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 report on Wednesday, August 14th. Stifel Nicolaus dropped their price target on Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. Telsey Advisory Group reissued a “market perform” rating and set a $360.00 price objective on shares of Home Depot in a report on Thursday, September 12th. Daiwa America raised Home Depot to a “hold” rating in a research note on Thursday, August 15th. Finally, Melius Research initiated coverage on shares of Home Depot in a report on Monday, September 23rd. They issued a “buy” rating and a $420.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $391.88.

Home Depot Stock Up 0.7 %

Shares of Home Depot stock opened at $399.53 on Monday. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $403.54. The company has a 50-day moving average of $368.10 and a 200 day moving average of $354.90. The firm has a market cap of $396.18 billion, a price-to-earnings ratio of 26.80, a PEG ratio of 2.71 and a beta of 1.00. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The business had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. During the same quarter in the previous year, the firm posted $4.65 EPS. The firm’s revenue was up .6% on a year-over-year basis. As a group, sell-side analysts anticipate that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were paid a $2.25 dividend. The ex-dividend date was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.25%. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.

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.