Intech Investment Management LLC Cuts Stock Position in The Home Depot, Inc. (NYSE:HD)

Intech Investment Management LLC trimmed its position in shares of The Home Depot, Inc. (NYSE:HD) by 22.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,523 shares of the home improvement retailer’s stock after selling 12,875 shares during the quarter. Intech Investment Management LLC’s holdings in Home Depot were worth $15,776,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of HD. Victory Capital Management Inc. boosted its stake in shares of Home Depot by 6.9% during the third quarter. Victory Capital Management Inc. now owns 611,392 shares of the home improvement retailer’s stock valued at $184,738,000 after purchasing an additional 39,663 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Home Depot by 92.3% during the third quarter. Assenagon Asset Management S.A. now owns 91,960 shares of the home improvement retailer’s stock valued at $27,787,000 after purchasing an additional 44,130 shares during the period. Kelleher Financial Advisors boosted its stake in shares of Home Depot by 19.1% during the third quarter. Kelleher Financial Advisors now owns 811 shares of the home improvement retailer’s stock valued at $245,000 after purchasing an additional 130 shares during the period. Parsons Capital Management Inc. RI boosted its stake in shares of Home Depot by 0.6% during the third quarter. Parsons Capital Management Inc. RI now owns 47,750 shares of the home improvement retailer’s stock valued at $14,428,000 after purchasing an additional 268 shares during the period. Finally, XML Financial LLC boosted its stake in shares of Home Depot by 5.8% during the third quarter. XML Financial LLC now owns 8,539 shares of the home improvement retailer’s stock valued at $2,580,000 after purchasing an additional 465 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Performance

NYSE HD traded down $1.79 during trading hours on Friday, reaching $325.10. The stock had a trading volume of 2,736,871 shares, compared to its average volume of 3,545,034. The stock has a fifty day moving average of $350.54 and a 200 day moving average of $347.93. The stock has a market cap of $322.37 billion, a P/E ratio of 21.80, a price-to-earnings-growth ratio of 2.25 and a beta of 1.01. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $396.87. The company has a debt-to-equity ratio of 23.11, a quick ratio of 0.42 and a current ratio of 1.34.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, May 14th. The home improvement retailer reported $3.63 EPS for the quarter, topping the consensus estimate of $3.61 by $0.02. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The business had revenue of $36.42 billion for the quarter, compared to analyst estimates of $36.65 billion. During the same quarter in the prior year, the firm posted $3.82 EPS. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. Sell-side analysts predict that The Home Depot, Inc. will post 15.31 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th will be given a $2.25 dividend. The ex-dividend date is Wednesday, May 29th. This represents a $9.00 annualized dividend and a yield of 2.77%. Home Depot’s dividend payout ratio is presently 60.36%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Wells Fargo & Company lowered their target price on shares of Home Depot from $425.00 to $400.00 and set an “overweight” rating for the company in a research note on Thursday, May 9th. Stifel Nicolaus lifted their price objective on Home Depot from $355.00 to $366.00 and gave the company a “hold” rating in a report on Friday, February 16th. Truist Financial decreased their price objective on Home Depot from $417.00 to $406.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Citigroup decreased their price objective on Home Depot from $415.00 to $395.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. Finally, TD Cowen decreased their price objective on Home Depot from $440.00 to $420.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $377.46.

Insiders Place Their Bets

In other Home Depot news, EVP Matt Carey sold 56,008 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $345.18, for a total value of $19,332,841.44. Following the sale, the executive vice president now owns 33,325 shares in the company, valued at approximately $11,503,123.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.10% of the company’s stock.

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.