Hartford Investment Management Co. Sells 1,684 Shares of The Home Depot, Inc. $HD

Hartford Investment Management Co. decreased its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 2.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,279 shares of the home improvement retailer’s stock after selling 1,684 shares during the period. Home Depot accounts for about 0.7% of Hartford Investment Management Co.’s portfolio, making the stock its 23rd biggest position. Hartford Investment Management Co.’s holdings in Home Depot were worth $23,614,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Cornerstone Advisors Asset Management LLC acquired a new position in Home Depot in the third quarter valued at approximately $209,000. Cornerstone Planning Group LLC increased its stake in shares of Home Depot by 16.4% in the 3rd quarter. Cornerstone Planning Group LLC now owns 1,312 shares of the home improvement retailer’s stock valued at $498,000 after acquiring an additional 185 shares in the last quarter. Physician Wealth Advisors Inc. lifted its position in shares of Home Depot by 21.0% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 1,352 shares of the home improvement retailer’s stock valued at $548,000 after acquiring an additional 235 shares during the period. Silphium Asset Management Ltd lifted its position in shares of Home Depot by 77.2% during the 3rd quarter. Silphium Asset Management Ltd now owns 13,544 shares of the home improvement retailer’s stock valued at $5,488,000 after acquiring an additional 5,900 shares during the period. Finally, Delta Asset Management LLC TN boosted its stake in Home Depot by 1.2% during the third quarter. Delta Asset Management LLC TN now owns 10,201 shares of the home improvement retailer’s stock worth $4,133,000 after acquiring an additional 123 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Ann Marie Campbell sold 145 shares of Home Depot stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $358.26, for a total transaction of $51,947.70. Following the sale, the executive vice president directly owned 12,320 shares in the company, valued at $4,413,763.20. The trade was a 1.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Teresa Wynn Roseborough sold 2,872 shares of Home Depot stock in a transaction dated Friday, December 26th. The stock was sold at an average price of $348.52, for a total transaction of $1,000,949.44. Following the completion of the sale, the executive vice president directly owned 13,196 shares in the company, valued at approximately $4,599,069.92. This represents a 17.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 4,963 shares of company stock valued at $1,748,845 in the last 90 days. 0.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Evercore ISI decreased their price target on shares of Home Depot from $450.00 to $425.00 and set an “outperform” rating for the company in a research note on Wednesday, November 19th. UBS Group set a $430.00 target price on Home Depot in a research report on Wednesday, December 10th. Oppenheimer cut their price target on Home Depot from $420.00 to $405.00 and set a “market perform” rating on the stock in a report on Friday, December 5th. Stifel Nicolaus reduced their price objective on Home Depot from $370.00 to $350.00 and set a “hold” rating for the company in a research note on Monday, December 1st. Finally, TD Cowen upped their target price on Home Depot from $410.00 to $450.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Twenty-one equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and an average target price of $404.50.

Home Depot Stock Performance

Shares of Home Depot stock opened at $378.27 on Tuesday. The company has a market cap of $376.57 billion, a PE ratio of 25.78, a price-to-earnings-growth ratio of 13.96 and a beta of 1.08. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $426.75. The business has a 50 day moving average price of $360.52 and a 200-day moving average price of $379.13. The company has a quick ratio of 0.29, a current ratio of 1.05 and a debt-to-equity ratio of 3.82.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.83 by ($0.09). The company had revenue of $41.35 billion for the quarter, compared to the consensus estimate of $41.06 billion. Home Depot had a return on equity of 160.74% and a net margin of 8.77%.The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the company posted $3.78 EPS. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. Equities analysts anticipate that The Home Depot, Inc. will post 15.13 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, December 18th. Shareholders of record on Thursday, December 4th were given a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Thursday, December 4th. Home Depot’s dividend payout ratio is presently 62.71%.

About Home Depot

The Home Depot, Inc (NYSE: HD) is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.

Home Depot’s core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.