ERn Financial LLC Purchases 899 Shares of The Home Depot, Inc. (NYSE:HD)

ERn Financial LLC boosted its stake in shares of The Home Depot, Inc. (NYSE:HDGet Rating) by 123.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,628 shares of the home improvement retailer’s stock after acquiring an additional 899 shares during the quarter. ERn Financial LLC’s holdings in Home Depot were worth $487,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Rinkey Investments purchased a new stake in Home Depot during the 4th quarter valued at about $25,000. GW&K Investment Management LLC purchased a new stake in Home Depot in the 1st quarter worth approximately $25,000. Tobam purchased a new stake in Home Depot in the 1st quarter worth approximately $27,000. Fairfield Bush & CO. purchased a new stake in Home Depot in the 1st quarter worth approximately $27,000. Finally, Clear Perspectives Financial Planning LLC lifted its holdings in Home Depot by 135.0% in the 1st quarter. Clear Perspectives Financial Planning LLC now owns 94 shares of the home improvement retailer’s stock worth $28,000 after buying an additional 54 shares during the period. 68.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on HD. Piper Sandler increased their price objective on Home Depot to $327.00 in a report on Monday, August 22nd. Jefferies Financial Group dropped their price objective on Home Depot from $420.00 to $400.00 and set a “buy” rating for the company in a report on Wednesday, May 18th. Robert W. Baird increased their price objective on Home Depot from $335.00 to $360.00 and gave the stock an “outperform” rating in a report on Tuesday, August 16th. JPMorgan Chase & Co. dropped their price objective on Home Depot from $335.00 to $311.00 and set an “overweight” rating for the company in a report on Tuesday, August 9th. Finally, Raymond James increased their target price on Home Depot from $340.00 to $350.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 17th. Five research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $365.95.

Insiders Place Their Bets

In other Home Depot news, EVP Matt Carey sold 12,650 shares of Home Depot stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $316.26, for a total value of $4,000,689.00. Following the completion of the sale, the executive vice president now owns 34,522 shares of the company’s stock, valued at approximately $10,917,927.72. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Home Depot Stock Up 0.8 %

HD stock opened at $299.90 on Friday. The Home Depot, Inc. has a twelve month low of $264.51 and a twelve month high of $420.61. The company has a quick ratio of 0.25, a current ratio of 1.18 and a debt-to-equity ratio of 165.70. The firm has a market cap of $307.02 billion, a PE ratio of 18.43, a price-to-earnings-growth ratio of 1.60 and a beta of 0.99. The business has a 50 day moving average of $300.50 and a 200 day moving average of $302.46.

Home Depot (NYSE:HDGet Rating) last posted its quarterly earnings data on Tuesday, August 16th. The home improvement retailer reported $5.05 earnings per share for the quarter, beating analysts’ consensus estimates of $4.95 by $0.10. Home Depot had a negative return on equity of 3,166.43% and a net margin of 10.88%. The company had revenue of $43.79 billion during the quarter, compared to analyst estimates of $43.33 billion. During the same quarter last year, the company earned $4.53 EPS. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, research analysts forecast that The Home Depot, Inc. will post 16.56 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be issued a $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Wednesday, August 31st. Home Depot’s payout ratio is 46.71%.

Home Depot declared that its board has initiated a share buyback program on Thursday, August 18th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the home improvement retailer to purchase up to 4.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

About Home Depot

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The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell 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, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.

See Also

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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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