Renaissance Investment Group LLC Has $11.34 Million Stock Position in The Home Depot, Inc. (NYSE:HD)

Renaissance Investment Group LLC cut its stake in shares of The Home Depot, Inc. (NYSE:HD) by 1.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 36,504 shares of the home improvement retailer’s stock after selling 509 shares during the quarter. Home Depot makes up 3.0% of Renaissance Investment Group LLC’s portfolio, making the stock its 9th largest holding. Renaissance Investment Group LLC’s holdings in Home Depot were worth $11,340,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Summit Asset Management LLC increased its holdings in shares of Home Depot by 0.9% during the 4th quarter. Summit Asset Management LLC now owns 3,491 shares of the home improvement retailer’s stock worth $1,103,000 after acquiring an additional 31 shares during the last quarter. M Holdings Securities Inc. increased its holdings in shares of Home Depot by 0.3% during the 4th quarter. M Holdings Securities Inc. now owns 9,993 shares of the home improvement retailer’s stock worth $3,161,000 after acquiring an additional 33 shares during the last quarter. Fortune 45 LLC increased its holdings in shares of Home Depot by 2.3% during the 1st quarter. Fortune 45 LLC now owns 1,492 shares of the home improvement retailer’s stock worth $440,000 after acquiring an additional 34 shares during the last quarter. Richard P Slaughter Associates Inc increased its holdings in shares of Home Depot by 4.0% during the 1st quarter. Richard P Slaughter Associates Inc now owns 885 shares of the home improvement retailer’s stock worth $261,000 after acquiring an additional 34 shares during the last quarter. Finally, Ethos Financial Group LLC increased its holdings in shares of Home Depot by 1.1% during the 1st quarter. Ethos Financial Group LLC now owns 3,272 shares of the home improvement retailer’s stock worth $966,000 after acquiring an additional 34 shares during the last quarter. 68.34% of the stock is owned by institutional investors.

Home Depot Stock Down 2.5 %

Shares of NYSE:HD opened at $321.40 on Friday. The company has a fifty day moving average of $325.55 and a 200-day moving average of $305.05. The company has a market capitalization of $321.42 billion, a PE ratio of 20.07, a price-to-earnings-growth ratio of 2.26 and a beta of 0.95. 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 Home Depot, Inc. has a 52-week low of $265.61 and a 52-week high of $347.25.

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

Home Depot Announces Dividend

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

Home Depot announced that its Board of Directors has approved a share buyback plan on Tuesday, August 15th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the home improvement retailer to buy up to 4.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages have commented on HD. Wedbush upped their price objective on Home Depot from $290.00 to $350.00 and gave the company a “neutral” rating in a report on Wednesday, August 16th. The Goldman Sachs Group upped their price objective on Home Depot from $330.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, August 15th. Stifel Nicolaus began coverage on Home Depot in a report on Wednesday, September 6th. They issued a “hold” rating and a $350.00 price objective on the stock. Sanford C. Bernstein upped their price objective on Home Depot from $314.00 to $328.00 and gave the company a “market perform” rating in a report on Wednesday, August 16th. Finally, DA Davidson upped their price objective on Home Depot from $290.00 to $320.00 and gave the company a “neutral” rating in a report on Wednesday, August 16th. Thirteen research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and an average price target of $339.62.

Insiders Place Their Bets

In related news, EVP Timothy A. Hourigan sold 12,120 shares of Home Depot stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $325.40, for a total transaction of $3,943,848.00. Following the completion of the transaction, the executive vice president now owns 73,049 shares of the company’s stock, valued at $23,770,144.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Home Depot news, EVP Teresa Wynn Roseborough sold 6,091 shares of the company’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $324.22, for a total transaction of $1,974,824.02. Following the sale, the executive vice president now owns 22,749 shares of the company’s stock, valued at $7,375,680.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Timothy A. Hourigan sold 12,120 shares of the company’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $325.40, for a total transaction of $3,943,848.00. Following the sale, the executive vice president now directly owns 73,049 shares in the company, valued at approximately $23,770,144.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,811 shares of company stock worth $6,441,376. 0.19% of the stock is currently owned by insiders.

Home Depot 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.