Truist Financial Corp Has $546.48 Million Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Truist Financial Corp reduced its stake in shares of The Home Depot, Inc. (NYSE:HD) by 11.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,587,491 shares of the home improvement retailer’s stock after selling 197,845 shares during the period. Home Depot makes up 0.8% of Truist Financial Corp’s investment portfolio, making the stock its 16th biggest position. Truist Financial Corp’s holdings in Home Depot were worth $546,478,000 at the end of the most recent reporting period.

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

Home Depot Stock Performance

HD stock opened at $405.02 on Tuesday. The firm has a market cap of $401.62 billion, a PE ratio of 27.16, a price-to-earnings-growth ratio of 2.71 and a beta of 1.00. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74. The stock has a 50-day moving average price of $368.93 and a 200-day moving average price of $355.11. The Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $405.31.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share 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 the consensus estimate of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $4.65 earnings per share. As a group, equities research analysts expect that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s payout ratio is 60.36%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Telsey Advisory Group reissued a “market perform” rating and set a $360.00 target price on shares of Home Depot in a research note on Thursday, September 12th. Loop Capital increased their price objective on shares of Home Depot from $330.00 to $360.00 and gave the company a “hold” rating in a research note on Tuesday, September 17th. Melius Research initiated coverage on shares of Home Depot in a research report on Monday, September 23rd. They issued a “buy” rating and a $420.00 target price on the stock. Royal Bank of Canada lowered their price target 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. Finally, JPMorgan Chase & Co. increased their price target on Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and an average target price of $394.08.

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.