Carret Asset Management LLC Trims Stock Position in The Home Depot, Inc. (NYSE:HD)

Carret Asset Management LLC lowered its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 0.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,247 shares of the home improvement retailer’s stock after selling 106 shares during the quarter. Carret Asset Management LLC’s holdings in Home Depot were worth $6,232,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Royal London Asset Management Ltd. grew its stake in shares of Home Depot by 24.3% during the 3rd quarter. Royal London Asset Management Ltd. now owns 620,297 shares of the home improvement retailer’s stock valued at $187,358,000 after acquiring an additional 121,315 shares during the period. Industrial Alliance Investment Management Inc. grew its stake in shares of Home Depot by 119.8% during the 3rd quarter. Industrial Alliance Investment Management Inc. now owns 2,945 shares of the home improvement retailer’s stock valued at $890,000 after acquiring an additional 1,605 shares during the period. Baker Avenue Asset Management LP grew its stake in shares of Home Depot by 5.7% during the 3rd quarter. Baker Avenue Asset Management LP now owns 22,859 shares of the home improvement retailer’s stock valued at $6,907,000 after acquiring an additional 1,235 shares during the period. Adalta Capital Management LLC grew its stake in shares of Home Depot by 0.4% during the 3rd quarter. Adalta Capital Management LLC now owns 28,152 shares of the home improvement retailer’s stock valued at $8,507,000 after acquiring an additional 99 shares during the period. Finally, Crestwood Advisors Group LLC grew its stake in shares of Home Depot by 31.4% during the 3rd quarter. Crestwood Advisors Group LLC now owns 286,370 shares of the home improvement retailer’s stock valued at $86,530,000 after acquiring an additional 68,354 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Transactions at Home Depot

In other news, EVP Matt Carey sold 56,008 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the transaction, the executive vice president now owns 33,325 shares of the company’s stock, valued at approximately $11,503,123.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on HD. Evercore ISI upped their price target on Home Depot from $415.00 to $420.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 14th. Truist Financial dropped their price target on Home Depot from $417.00 to $406.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Citigroup dropped their price target on Home Depot from $415.00 to $395.00 and set a “buy” rating for the company in a research note on Tuesday, May 7th. Mizuho assumed coverage on Home Depot in a research note on Tuesday, March 19th. They issued a “buy” rating and a $415.00 price target for the company. Finally, UBS Group lowered their target price on Home Depot from $411.00 to $400.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the company. According to MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and an average target price of $378.42.

Home Depot Stock Performance

HD stock opened at $333.58 on Thursday. The company has a quick ratio of 0.42, a current ratio of 1.34 and a debt-to-equity ratio of 23.11. The business’s fifty day simple moving average is $338.43 and its two-hundred day simple moving average is $352.56. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve month high of $396.87. The firm has a market cap of $330.78 billion, a price-to-earnings ratio of 22.37, a PEG ratio of 2.31 and a beta of 0.98.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share for the quarter, topping analysts’ consensus estimates 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 last year, the firm posted $3.82 earnings per share. The business’s revenue was down 2.3% compared to the same quarter last year. Analysts predict that The Home Depot, Inc. will post 15.28 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend was Thursday, May 30th. Home Depot’s payout ratio is 60.36%.

Home Depot Company Profile

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.