Investment Management Corp of Ontario Boosts Stock Holdings in The Home Depot, Inc. $HD

Investment Management Corp of Ontario grew its stake in shares of The Home Depot, Inc. (NYSE:HD) by 14.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,222 shares of the home improvement retailer’s stock after buying an additional 6,689 shares during the quarter. Investment Management Corp of Ontario’s holdings in Home Depot were worth $19,513,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of HD. Legend Financial Advisors Inc. bought a new position in Home Depot during the 2nd quarter worth approximately $28,000. Sagard Holdings Management Inc. bought a new position in shares of Home Depot in the second quarter worth approximately $29,000. LFA Lugano Financial Advisors SA bought a new position in shares of Home Depot in the second quarter worth approximately $32,000. Legacy Investment Solutions LLC bought a new stake in Home Depot during the 2nd quarter valued at $35,000. Finally, Global X Japan Co. Ltd. purchased a new stake in Home Depot during the 2nd quarter valued at $40,000. Institutional investors own 70.86% of the company’s stock.

Insider Activity

In other news, EVP William D. Bastek sold 2,303 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $423.12, for a total value of $974,445.36. Following the sale, the executive vice president directly owned 24,235 shares of the company’s stock, valued at $10,254,313.20. The trade was a 8.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.10% of the company’s stock.

Home Depot Price Performance

HD opened at $349.54 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 0.29 and a debt-to-equity ratio of 3.82. The company has a market cap of $347.97 billion, a price-to-earnings ratio of 23.83, a price-to-earnings-growth ratio of 6.25 and a beta of 1.06. The stock has a fifty day simple moving average of $371.92 and a two-hundred day simple moving average of $379.73. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $436.36.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.09). The business had revenue of $41.35 billion during the quarter, compared to analysts’ expectations of $41.06 billion. Home Depot had a return on equity of 160.74% and a net margin of 8.77%.The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the company earned $3.78 earnings per share. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. Research analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be paid a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.6%. Home Depot’s dividend payout ratio (DPR) is currently 62.71%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on HD. Jefferies Financial Group lowered their price objective on shares of Home Depot from $474.00 to $438.00 and set a “buy” rating for the company in a research note on Wednesday, November 19th. HSBC dropped their price objective on Home Depot from $445.00 to $400.00 and set a “hold” rating for the company in a report on Wednesday, November 19th. Robert W. Baird dropped their price target on Home Depot from $450.00 to $415.00 and set an “outperform” rating for the company in a research note on Wednesday, November 19th. TD Cowen reduced their price objective on shares of Home Depot from $470.00 to $410.00 and set a “buy” rating on the stock in a research report on Wednesday, November 19th. Finally, UBS Group restated a “buy” rating on shares of Home Depot in a report on Friday. Twenty-one equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and an average target price of $403.50.

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.