Hartford Financial Management Inc. Decreases Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Hartford Financial Management Inc. trimmed its position in shares of The Home Depot, Inc. (NYSE:HD) by 1.7% during the 1st quarter, Holdings Channel reports. The fund owned 20,554 shares of the home improvement retailer’s stock after selling 360 shares during the period. Home Depot makes up approximately 1.6% of Hartford Financial Management Inc.’s investment portfolio, making the stock its 11th biggest position. Hartford Financial Management Inc.’s holdings in Home Depot were worth $7,533,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in Home Depot during the 4th quarter valued at $5,032,910,000. GAMMA Investing LLC raised its holdings in Home Depot by 39,194.1% during the 1st quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer’s stock valued at $37,517,230,000 after buying an additional 10,210,851 shares during the period. Raymond James Financial Inc. purchased a new stake in Home Depot during the 4th quarter valued at $2,212,546,000. Proficio Capital Partners LLC raised its holdings in Home Depot by 21,394.9% during the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock valued at $793,486,000 after buying an additional 2,030,372 shares during the period. Finally, Northern Trust Corp raised its holdings in Home Depot by 13.3% during the 4th quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock valued at $4,726,186,000 after buying an additional 1,424,857 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Home Depot

In related news, 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 transaction of $954,564.00. Following the sale, the executive vice president now owns 7,951 shares of the company’s stock, valued at $2,919,130.14. This trade represents a 24.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 value of $1,996,327.68. Following the sale, the executive vice president now directly owns 17,367 shares in the company, valued at approximately $6,413,285.76. The trade was a 23.74% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on HD. Sanford C. Bernstein restated a “market perform” rating and set a $398.00 price target (up previously from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. JPMorgan Chase & Co. increased their price target on Home Depot from $410.00 to $418.00 and gave the company an “overweight” rating in a report on Wednesday, May 21st. Truist Financial increased their price target on Home Depot from $393.00 to $417.00 and gave the company a “buy” rating in a report on Tuesday, May 20th. Wells Fargo & Company decreased their price target on Home Depot from $445.00 to $420.00 and set an “overweight” rating on the stock in a report on Thursday, May 8th. Finally, Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Seven research 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 a consensus target price of $426.77.

Home Depot Price Performance

HD opened at $346.41 on Thursday. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37. 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 business’s fifty day simple moving average is $362.86 and its 200-day simple moving average is $381.18. The company has a market capitalization of $344.65 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 3.32 and a beta of 1.02.

Home Depot (NYSE:HD) last posted its quarterly 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 firm had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. During the same period in the previous year, the company posted $3.63 EPS. Home Depot’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, equities research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date was Thursday, June 5th. Home Depot’s payout ratio is 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.