Corundum Group Inc. Increases Stock Position in The Home Depot, Inc. (NYSE:HD)

Corundum Group Inc. grew its position in shares of The Home Depot, Inc. (NYSE:HD) by 32.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,286 shares of the home improvement retailer’s stock after purchasing an additional 1,310 shares during the period. Corundum Group Inc.’s holdings in Home Depot were worth $2,056,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new position in Home Depot during the third quarter valued at $41,000. Livelsberger Financial Advisory purchased a new stake in shares of Home Depot during the 3rd quarter valued at about $46,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Home Depot in the 2nd quarter valued at about $47,000. Quarry LP grew its position in Home Depot by 36.0% in the second quarter. Quarry LP now owns 136 shares of the home improvement retailer’s stock worth $47,000 after acquiring an additional 36 shares in the last quarter. Finally, Semmax Financial Advisors Inc. grew its position in Home Depot by 111.3% in the second quarter. Semmax Financial Advisors Inc. now owns 150 shares of the home improvement retailer’s stock worth $53,000 after acquiring an additional 79 shares in the last quarter. 70.86% of the stock is owned by institutional investors.

Home Depot Price Performance

Shares of HD opened at $418.65 on Wednesday. The stock has a market capitalization of $415.87 billion, a PE ratio of 28.44, a PEG ratio of 4.31 and a beta of 1.05. The company has a 50 day moving average price of $406.53 and a 200-day moving average price of $388.73. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. The company had revenue of $40.22 billion during the quarter, compared to analyst estimates of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. Home Depot’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.81 earnings per share. Equities analysts predict that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were issued a $2.25 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a yield of 2.15%. Home Depot’s dividend payout ratio is presently 61.14%.

Insider Buying and Selling at Home Depot

In related news, EVP Timothy A. Hourigan sold 16,004 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the completion of the sale, the executive vice president now owns 77,475 shares of the company’s stock, valued at $31,727,562. This represents a 17.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of Home Depot stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the completion of the transaction, the executive vice president now directly owns 20,404 shares in the company, valued at $8,343,399.64. This represents a 51.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,188 shares of company stock valued at $15,624,585. 0.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Barclays raised their price objective on Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Morgan Stanley raised their price target on Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. TD Cowen boosted their price objective on shares of Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Truist Financial increased their target price on shares of Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, DA Davidson lifted their price target on shares of Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $426.00.

About Home Depot

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.