Truist Financial Corp Has $411.43 Million Position in The Home Depot, Inc. (NYSE:HD)

Truist Financial Corp reduced its stake in shares of The Home Depot, Inc. (NYSE:HD) by 4.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 1,122,619 shares of the home improvement retailer’s stock after selling 56,576 shares during the quarter. Home Depot comprises 0.7% of Truist Financial Corp’s holdings, making the stock its 28th largest position. Truist Financial Corp’s holdings in Home Depot were worth $411,429,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Navigoe LLC acquired a new position in Home Depot during the fourth quarter worth $29,000. Quarry LP raised its stake in Home Depot by 220.0% during the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after acquiring an additional 66 shares in the last quarter. Sellwood Investment Partners LLC acquired a new position in Home Depot during the fourth quarter worth $39,000. Spurstone Advisory Services LLC acquired a new position in Home Depot during the fourth quarter worth $45,000. Finally, Vega Investment Solutions acquired a new position in Home Depot during the fourth quarter worth $46,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Home Depot

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

Home Depot Price Performance

Shares of HD opened at $371.36 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 5.95. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37. The stock has a market cap of $369.47 billion, a P/E ratio of 25.19, a price-to-earnings-growth ratio of 3.53 and a beta of 1.00. The stock’s 50-day moving average price is $365.14 and its two-hundred day moving average price is $376.33.

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

Home Depot Announces Dividend

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 dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot’s dividend payout ratio (DPR) is currently 62.42%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Guggenheim restated a “buy” rating and issued a $450.00 target price on shares of Home Depot in a research note on Wednesday, May 21st. DA Davidson lowered their target price on Home Depot from $470.00 to $450.00 in a research note on Tuesday, May 20th. Royal Bank Of Canada lowered their target price on Home Depot from $424.00 to $399.00 and set a “sector perform” rating for the company in a research note on Thursday, May 15th. Piper Sandler lowered their target price on Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. Finally, Wells Fargo & Company set a $420.00 target price on Home Depot and gave the company an “overweight” rating in a research note on Monday. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $426.77.

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.