7,075 Shares in The Home Depot, Inc. (NYSE:HD) Bought by Connective Portfolio Management LLC

Connective Portfolio Management LLC acquired a new stake in shares of The Home Depot, Inc. (NYSE:HD) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 7,075 shares of the home improvement retailer’s stock, valued at approximately $2,867,000. Home Depot accounts for 3.2% of Connective Portfolio Management LLC’s portfolio, making the stock its 8th biggest position.

Several other institutional investors also recently modified their holdings of the stock. Fisher Asset Management LLC boosted its stake in Home Depot by 2.1% in the fourth quarter. Fisher Asset Management LLC now owns 8,790,895 shares of the home improvement retailer’s stock worth $3,046,485,000 after purchasing an additional 184,480 shares in the last quarter. Legal & General Group Plc increased its position in shares of Home Depot by 1.2% in the 2nd quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock valued at $2,931,328,000 after buying an additional 100,139 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Home Depot by 15.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock worth $2,853,143,000 after purchasing an additional 971,833 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Home Depot by 2.5% during the second quarter. Ameriprise Financial Inc. now owns 5,774,083 shares of the home improvement retailer’s stock worth $1,980,883,000 after buying an additional 138,396 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in Home Depot by 13.1% during the first quarter. Jennison Associates LLC now owns 4,917,286 shares of the home improvement retailer’s stock worth $1,886,271,000 after purchasing an additional 569,690 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Analyst Ratings Changes

HD has been the subject of a number of recent analyst reports. Truist Financial cut their price objective on Home Depot from $396.00 to $395.00 and set a “buy” rating for the company in a research report on Wednesday, August 14th. Loop Capital upgraded Home Depot from a “hold” rating to a “buy” rating and raised their target price for the company from $360.00 to $460.00 in a research note on Wednesday. Oppenheimer upped their price objective on shares of Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 24th. Jefferies Financial Group assumed coverage on Home Depot in a research note on Tuesday, July 16th. They issued a “buy” rating and a $426.00 target price for the company. Finally, Daiwa America raised shares of Home Depot to a “hold” rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $402.38.

Home Depot Trading Down 0.2 %

NYSE HD traded down $0.81 on Wednesday, reaching $413.37. The stock had a trading volume of 798,191 shares, compared to its average volume of 3,379,166. The stock has a fifty day moving average price of $375.22 and a two-hundred day moving average price of $356.30. The Home Depot, Inc. has a 12-month low of $274.26 and a 12-month high of $420.03. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74. The firm has a market capitalization of $409.90 billion, a price-to-earnings ratio of 27.78, a P/E/G ratio of 2.71 and a beta of 1.00.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping the consensus estimate of $4.59 by $0.08. The business had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the company earned $4.65 EPS. As a group, sell-side analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s payout ratio is 60.36%.

Home Depot 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.