The Home Depot, Inc. (NYSE:HD) Shares Sold by Convergence Investment Partners LLC

Convergence Investment Partners LLC reduced its stake in shares of The Home Depot, Inc. (NYSE:HD) by 6.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,375 shares of the home improvement retailer’s stock after selling 499 shares during the quarter. Home Depot accounts for approximately 1.3% of Convergence Investment Partners LLC’s portfolio, making the stock its 19th largest holding. Convergence Investment Partners LLC’s holdings in Home Depot were worth $2,556,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HD. Optas LLC raised its stake in shares of Home Depot by 1.7% in the 4th quarter. Optas LLC now owns 1,752 shares of the home improvement retailer’s stock valued at $607,000 after buying an additional 29 shares in the last quarter. Harvest Investment Advisors LLC increased its position in shares of Home Depot by 0.8% during the 3rd quarter. Harvest Investment Advisors LLC now owns 3,815 shares of the home improvement retailer’s stock worth $1,153,000 after purchasing an additional 30 shares in the last quarter. Armstrong Henry H Associates Inc. increased its position in shares of Home Depot by 0.3% during the 4th quarter. Armstrong Henry H Associates Inc. now owns 10,903 shares of the home improvement retailer’s stock worth $3,778,000 after purchasing an additional 30 shares in the last quarter. CGC Financial Services LLC increased its position in shares of Home Depot by 4.3% during the 4th quarter. CGC Financial Services LLC now owns 722 shares of the home improvement retailer’s stock worth $250,000 after purchasing an additional 30 shares in the last quarter. Finally, Independent Investors Inc. increased its position in shares of Home Depot by 0.5% during the 4th quarter. Independent Investors Inc. now owns 6,052 shares of the home improvement retailer’s stock worth $2,097,000 after purchasing an additional 30 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on HD. Robert W. Baird reiterated an “outperform” rating and set a $370.00 target price on shares of Home Depot in a research report on Wednesday, February 14th. Guggenheim reiterated a “buy” rating and set a $390.00 target price on shares of Home Depot in a research report on Friday, April 5th. Oppenheimer cut shares of Home Depot from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. Piper Sandler upgraded shares of Home Depot from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $311.00 to $400.00 in a research report on Tuesday, January 16th. Finally, Bank of America lifted their price objective on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $375.96.

Insider Activity

In other news, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total value of $3,317,185.04. Following the completion of the sale, the executive vice president now owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the transaction, the chief executive officer now owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total value of $3,317,185.04. Following the completion of the transaction, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at approximately $27,950,123.26. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.

Home Depot Stock Performance

HD stock traded up $3.11 during midday trading on Friday, reaching $335.09. 2,465,262 shares of the company were exchanged, compared to its average volume of 3,779,238. The business has a 50-day moving average price of $364.77 and a two-hundred day moving average price of $340.97. The firm has a market capitalization of $332.08 billion, a price-to-earnings ratio of 22.19, a price-to-earnings-growth ratio of 2.23 and a beta of 0.98. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $396.87. The company has a debt-to-equity ratio of 40.94, a current ratio of 1.35 and a quick ratio of 0.40.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.05. The company had revenue of $34.79 billion during the quarter, compared to analysts’ expectations of $34.64 billion. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. Home Depot’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.30 earnings per share. Equities research analysts forecast that The Home Depot, Inc. will post 15.37 EPS for the current year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date was Wednesday, March 6th. This is a boost from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s payout ratio is presently 59.60%.

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.