Duff & Phelps Investment Management Co. Lowers Stake in The Home Depot, Inc. (NYSE:HD)

Duff & Phelps Investment Management Co. trimmed its stake in The Home Depot, Inc. (NYSE:HD) by 80.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,284 shares of the home improvement retailer’s stock after selling 9,243 shares during the quarter. Duff & Phelps Investment Management Co.’s holdings in Home Depot were worth $786,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Ruedi Wealth Management Inc. raised its position in shares of Home Depot by 1.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock worth $817,000 after purchasing an additional 27 shares during the last quarter. Acorn Creek Capital LLC lifted its holdings in Home Depot by 3.4% in the 2nd quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock worth $291,000 after buying an additional 28 shares in the last quarter. STAR Financial Bank raised its holdings in Home Depot by 0.7% in the fourth quarter. STAR Financial Bank now owns 3,944 shares of the home improvement retailer’s stock valued at $1,367,000 after acquiring an additional 29 shares in the last quarter. Talisman Wealth Advisors LLC lifted its position in shares of Home Depot by 1.2% during the first quarter. Talisman Wealth Advisors LLC now owns 2,385 shares of the home improvement retailer’s stock worth $915,000 after purchasing an additional 29 shares during the last quarter. Finally, LMG Wealth Partners LLC grew its position in shares of Home Depot by 1.7% in the 2nd quarter. LMG Wealth Partners LLC now owns 1,709 shares of the home improvement retailer’s stock worth $588,000 after acquiring an additional 29 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

Shares of HD stock opened at $399.53 on Monday. The stock has a market cap of $396.18 billion, a PE ratio of 26.80, a price-to-earnings-growth ratio of 2.71 and a beta of 1.00. The stock has a 50-day moving average of $368.10 and a 200-day moving average of $354.90. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $403.54.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping the consensus estimate of $4.59 by $0.08. The firm had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $4.65 earnings per share. As a group, sell-side analysts expect that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were paid a dividend of $2.25 per share. The ex-dividend date was Thursday, August 29th. This represents a $9.00 annualized dividend and a dividend yield of 2.25%. Home Depot’s dividend payout ratio is currently 60.36%.

Analyst Ratings Changes

HD has been the topic of several recent research reports. UBS Group raised their price target on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Oppenheimer raised their price objective on shares of Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. lifted their target price on Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Truist Financial decreased their price objective on Home Depot from $396.00 to $395.00 and set a “buy” rating for the company in a research report on Wednesday, August 14th. Finally, Daiwa America upgraded shares of Home Depot to a “hold” rating in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and an average target price of $391.88.

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.