Ern LLC Acquires Shares of 5,550 The Home Depot, Inc. (NYSE:HD)

Ern LLC acquired a new stake in shares of The Home Depot, Inc. (NYSE:HDGet Rating) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,550 shares of the home improvement retailer’s stock, valued at approximately $1,522,000. Home Depot accounts for 1.7% of Ern LLC’s investment portfolio, making the stock its 21st largest holding.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HD. Norges Bank purchased a new stake in Home Depot during the fourth quarter valued at approximately $4,325,629,000. Renaissance Technologies LLC purchased a new stake in shares of Home Depot in the first quarter worth approximately $563,524,000. Parnassus Investments LLC purchased a new stake in shares of Home Depot in the first quarter worth approximately $542,084,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Home Depot by 14.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 10,729,735 shares of the home improvement retailer’s stock worth $3,211,731,000 after buying an additional 1,361,660 shares during the period. Finally, Aaron Wealth Advisors LLC raised its holdings in shares of Home Depot by 25,355.1% in the first quarter. Aaron Wealth Advisors LLC now owns 695,942 shares of the home improvement retailer’s stock worth $2,325,000 after buying an additional 693,208 shares during the period. 68.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HD has been the topic of several recent analyst reports. Truist Financial increased their price target on Home Depot from $375.00 to $399.00 and gave the stock a “buy” rating in a report on Wednesday, August 17th. JPMorgan Chase & Co. reduced their price target on Home Depot from $335.00 to $311.00 and set an “overweight” rating on the stock in a report on Tuesday, August 9th. UBS Group increased their price target on Home Depot from $360.00 to $370.00 and gave the stock a “buy” rating in a report on Wednesday, August 17th. Robert W. Baird raised their price objective on Home Depot from $335.00 to $360.00 and gave the stock an “outperform” rating in a report on Tuesday, August 16th. Finally, Piper Sandler raised their price objective on Home Depot to $327.00 in a report on Monday, August 22nd. Five analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $365.95.

Home Depot Stock Down 0.9 %

Shares of NYSE HD opened at $269.14 on Friday. The company has a current ratio of 1.18, a quick ratio of 0.25 and a debt-to-equity ratio of 165.70. The stock has a market capitalization of $275.53 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 1.47 and a beta of 0.99. The stock’s fifty day simple moving average is $299.46 and its two-hundred day simple moving average is $299.57. The Home Depot, Inc. has a 12-month low of $264.51 and a 12-month high of $420.61.

Home Depot (NYSE:HDGet Rating) last posted its quarterly earnings data on Tuesday, August 16th. The home improvement retailer reported $5.05 earnings per share for the quarter, topping analysts’ consensus estimates of $4.95 by $0.10. The firm had revenue of $43.79 billion during the quarter, compared to analysts’ expectations of $43.33 billion. Home Depot had a negative return on equity of 3,166.43% and a net margin of 10.88%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the firm earned $4.53 EPS. As a group, analysts expect that The Home Depot, Inc. will post 16.56 EPS for the current fiscal year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were given a $1.90 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $7.60 dividend on an annualized basis and a dividend yield of 2.82%. Home Depot’s payout ratio is 46.71%.

Home Depot declared that its Board of Directors has initiated a share buyback program on Thursday, August 18th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the home improvement retailer to reacquire up to 4.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Home Depot

In other news, EVP Matt Carey sold 12,650 shares of the firm’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $316.26, for a total value of $4,000,689.00. Following the completion of the sale, the executive vice president now owns 34,522 shares of the company’s stock, valued at approximately $10,917,927.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Fahim Siddiqui sold 1,000 shares of the firm’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $300.59, for a total value of $300,590.00. Following the completion of the transaction, the executive vice president now owns 6,180 shares in the company, valued at approximately $1,857,646.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Matt Carey sold 12,650 shares of the firm’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $316.26, for a total value of $4,000,689.00. Following the completion of the transaction, the executive vice president now owns 34,522 shares of the company’s stock, valued at approximately $10,917,927.72. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

About Home Depot

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The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell 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, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.

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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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