Grassi Investment Management Sells 600 Shares of The Home Depot, Inc. (NYSE:HD)

Grassi Investment Management cut its position in shares of The Home Depot, Inc. (NYSE:HD) by 1.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,230 shares of the home improvement retailer’s stock after selling 600 shares during the period. Home Depot comprises 1.3% of Grassi Investment Management’s portfolio, making the stock its 18th biggest position. Grassi Investment Management’s holdings in Home Depot were worth $14,680,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Fairway Wealth LLC purchased a new stake in Home Depot during the second quarter worth $25,000. Kings Path Partners LLC purchased a new position in Home Depot in the second quarter valued at about $33,000. Denver PWM LLC purchased a new position in Home Depot in the second quarter valued at about $40,000. Livelsberger Financial Advisory bought a new position in Home Depot in the third quarter worth about $46,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Home Depot during the second quarter valued at about $47,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Stock Down 0.9 %

Shares of HD opened at $398.97 on Friday. The stock has a 50 day moving average price of $389.08 and a 200 day moving average price of $359.73. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $421.56. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The stock has a market capitalization of $396.29 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 2.78 and a beta of 1.00.

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

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio is currently 60.57%.

Analyst Ratings Changes

HD has been the topic of several analyst reports. Truist Financial lifted their price target on shares of Home Depot from $395.00 to $455.00 and gave the stock a “buy” rating in a report on Monday, October 14th. JPMorgan Chase & Co. upped their target price on Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Daiwa America raised Home Depot to a “hold” rating in a report on Thursday, August 15th. Morgan Stanley upped their price objective on shares of Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Finally, Evercore ISI lowered their target price on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $412.00.

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.