Bigelow Investment Advisors LLC Reduces Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Bigelow Investment Advisors LLC lessened its stake in shares of The Home Depot, Inc. (NYSE:HD) by 5.7% in the 1st quarter, Holdings Channel reports. The institutional investor owned 3,039 shares of the home improvement retailer’s stock after selling 184 shares during the quarter. Bigelow Investment Advisors LLC’s holdings in Home Depot were worth $1,114,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of HD. Grandview Asset Management LLC lifted its position in Home Depot by 5.7% in the first quarter. Grandview Asset Management LLC now owns 1,735 shares of the home improvement retailer’s stock valued at $636,000 after acquiring an additional 93 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Home Depot by 2.8% during the first quarter. State of Alaska Department of Revenue now owns 116,372 shares of the home improvement retailer’s stock worth $42,649,000 after purchasing an additional 3,120 shares during the last quarter. CWA Asset Management Group LLC increased its position in shares of Home Depot by 0.4% during the first quarter. CWA Asset Management Group LLC now owns 16,773 shares of the home improvement retailer’s stock worth $6,147,000 after purchasing an additional 71 shares in the last quarter. LifeWealth Investments LLC lifted its holdings in shares of Home Depot by 82.8% in the 1st quarter. LifeWealth Investments LLC now owns 1,866 shares of the home improvement retailer’s stock valued at $684,000 after purchasing an additional 845 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC boosted its position in shares of Home Depot by 116.2% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 21,831 shares of the home improvement retailer’s stock valued at $7,988,000 after purchasing an additional 11,735 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

HD has been the topic of several research analyst reports. Evercore ISI set a $400.00 price target on Home Depot and gave the stock an “outperform” rating in a research report on Thursday, May 22nd. KGI Securities upgraded shares of Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Stifel Nicolaus upgraded shares of Home Depot from a “hold” rating to a “buy” rating and upped their price target for the company from $405.00 to $425.00 in a research report on Wednesday, May 21st. Truist Financial raised their price objective on shares of Home Depot from $393.00 to $417.00 and gave the stock a “buy” rating in a research report on Tuesday, May 20th. Finally, Piper Sandler dropped their price objective on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and a consensus target price of $426.77.

Insider Activity

In related news, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total value of $954,564.00. Following the sale, the executive vice president now directly owns 7,951 shares of the company’s stock, valued at approximately $2,919,130.14. This represents a 24.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the transaction, the executive vice president now owns 17,367 shares of the company’s stock, valued at $6,413,285.76. This trade represents a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Home Depot Stock Down 0.7%

Home Depot stock opened at $346.41 on Thursday. The stock’s 50 day moving average price is $362.86 and its 200 day moving average price is $381.18. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37. The company has a market cap of $344.65 billion, a PE ratio of 23.50, a price-to-earnings-growth ratio of 3.32 and a beta of 1.02. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing the consensus estimate of $3.59 by ($0.03). The company had revenue of $39.86 billion for the quarter, compared to analysts’ expectations of $39.24 billion. Home Depot had a return on equity of 242.51% and a net margin of 8.98%. Home Depot’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.63 earnings per share. On average, sell-side analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were issued a $2.30 dividend. The ex-dividend date was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a yield of 2.66%. Home Depot’s dividend payout ratio (DPR) is presently 62.42%.

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.