Neville Rodie & Shaw Inc. Cuts Position in The Home Depot, Inc. (NYSE:HD)

Neville Rodie & Shaw Inc. lessened its holdings in The Home Depot, Inc. (NYSE:HD) by 0.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,156 shares of the home improvement retailer’s stock after selling 137 shares during the period. Home Depot comprises about 1.3% of Neville Rodie & Shaw Inc.’s portfolio, making the stock its 22nd largest holding. Neville Rodie & Shaw Inc.’s holdings in Home Depot were worth $15,580,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. BlackRock Inc. increased its stake in Home Depot by 1.2% during the 1st quarter. BlackRock Inc. now owns 77,137,759 shares of the home improvement retailer’s stock worth $22,764,896,000 after buying an additional 878,220 shares in the last quarter. Geode Capital Management LLC increased its stake in Home Depot by 0.7% during the 1st quarter. Geode Capital Management LLC now owns 19,135,000 shares of the home improvement retailer’s stock worth $5,635,031,000 after buying an additional 126,981 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Home Depot by 10.0% during the 4th quarter. Morgan Stanley now owns 18,737,490 shares of the home improvement retailer’s stock worth $5,918,425,000 after purchasing an additional 1,698,402 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Home Depot by 6.3% during the 1st quarter. Wellington Management Group LLP now owns 15,718,744 shares of the home improvement retailer’s stock worth $4,638,916,000 after purchasing an additional 925,962 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Home Depot by 6.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,191,961 shares of the home improvement retailer’s stock worth $3,865,678,000 after purchasing an additional 756,274 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Analysts Set New Price Targets

HD has been the topic of several recent research reports. Citigroup boosted their target price on Home Depot from $327.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Truist Financial upped their price objective on Home Depot from $348.00 to $372.00 and gave the company a “buy” rating in a report on Wednesday, August 16th. Telsey Advisory Group upped their price objective on Home Depot from $315.00 to $335.00 in a report on Wednesday, August 16th. Loop Capital upped their price objective on Home Depot from $300.00 to $315.00 and gave the company a “hold” rating in a report on Wednesday, August 16th. Finally, Morgan Stanley upped their price objective on Home Depot from $320.00 to $350.00 and gave the company an “overweight” rating in a report on Wednesday, August 16th. Thirteen investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus price target of $339.62.

Insider Transactions at Home Depot

In other Home Depot news, CAO Kimberly R. Scardino sold 1,600 shares of Home Depot stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $326.69, for a total value of $522,704.00. Following the completion of the sale, the chief accounting officer now directly owns 8,281 shares of the company’s stock, valued at approximately $2,705,319.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Home Depot news, EVP Timothy A. Hourigan sold 12,120 shares of Home Depot stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $325.40, for a total value of $3,943,848.00. Following the completion of the sale, the executive vice president now directly owns 73,049 shares of the company’s stock, valued at approximately $23,770,144.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Kimberly R. Scardino sold 1,600 shares of Home Depot stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $326.69, for a total transaction of $522,704.00. Following the completion of the transaction, the chief accounting officer now owns 8,281 shares in the company, valued at approximately $2,705,319.89. The disclosure for this sale can be found here. Insiders sold a total of 19,811 shares of company stock valued at $6,441,376 in the last ninety days. Corporate insiders own 0.19% of the company’s stock.

Home Depot Stock Performance

Shares of HD stock opened at $321.40 on Friday. The Home Depot, Inc. has a 1 year low of $265.61 and a 1 year high of $347.25. The company has a debt-to-equity ratio of 30.53, a quick ratio of 0.35 and a current ratio of 1.31. The firm has a market cap of $321.42 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 2.26 and a beta of 0.95. The stock’s 50-day moving average is $325.55 and its two-hundred day moving average is $305.05.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, August 15th. The home improvement retailer reported $4.65 earnings per share for the quarter, topping analysts’ consensus estimates of $4.45 by $0.20. Home Depot had a net margin of 10.48% and a return on equity of 1,424.89%. The business had revenue of $42.92 billion during the quarter, compared to analysts’ expectations of $42.19 billion. During the same period last year, the company posted $5.05 EPS. The company’s revenue was down 2.0% on a year-over-year basis. Analysts predict that The Home Depot, Inc. will post 15.24 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Thursday, August 31st were paid a dividend of $2.09 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $8.36 dividend on an annualized basis and a dividend yield of 2.60%. Home Depot’s dividend payout ratio (DPR) is 52.22%.

Home Depot declared that its Board of Directors has authorized a share buyback plan on Tuesday, August 15th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the home improvement retailer to buy up to 4.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Home Depot Company Profile

The Home Depot, Inc operates as a home improvement retailer. 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.