Bright Rock Capital Management LLC Has $7.67 Million Position in The Home Depot, Inc. (NYSE:HD)

Bright Rock Capital Management LLC reduced its position in shares of The Home Depot, Inc. (NYSE:HD) by 39.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,000 shares of the home improvement retailer’s stock after selling 13,000 shares during the period. Home Depot comprises about 1.6% of Bright Rock Capital Management LLC’s investment portfolio, making the stock its 27th largest holding. Bright Rock Capital Management LLC’s holdings in Home Depot were worth $7,672,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of HD. Bey Douglas LLC acquired a new position in Home Depot in the 4th quarter valued at $913,000. Hartline Investment Corp raised its holdings in Home Depot by 3.0% in the 4th quarter. Hartline Investment Corp now owns 15,574 shares of the home improvement retailer’s stock valued at $5,397,000 after acquiring an additional 460 shares in the last quarter. Wolf Group Capital Advisors raised its holdings in Home Depot by 6.1% in the 4th quarter. Wolf Group Capital Advisors now owns 7,513 shares of the home improvement retailer’s stock valued at $2,604,000 after acquiring an additional 430 shares in the last quarter. Alliance Wealth Management Group acquired a new position in Home Depot in the 4th quarter valued at $253,000. Finally, Zullo Investment Group Inc. raised its holdings in Home Depot by 6.6% in the 4th quarter. Zullo Investment Group Inc. now owns 8,153 shares of the home improvement retailer’s stock valued at $2,826,000 after acquiring an additional 504 shares in the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HD has been the topic of a number of research reports. Wells Fargo & Company dropped their price target on Home Depot from $425.00 to $400.00 and set an “overweight” rating on the stock in a research note on Thursday, May 9th. Zelman & Associates raised Home Depot from a “neutral” rating to an “outperform” rating in a report on Tuesday, April 2nd. Truist Financial reduced their price objective on Home Depot from $417.00 to $406.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. TD Cowen cut their price target on Home Depot from $440.00 to $420.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Finally, Evercore ISI raised their price target on Home Depot from $415.00 to $420.00 and gave the stock an “outperform” rating in a report on Tuesday, May 14th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $377.46.

Home Depot Stock Up 0.7 %

Home Depot stock traded up $2.36 during midday trading on Friday, reaching $355.80. The company’s stock had a trading volume of 6,596,539 shares, compared to its average volume of 3,061,367. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $396.87. The company has a quick ratio of 0.42, a current ratio of 1.34 and a debt-to-equity ratio of 23.11. The company has a market cap of $352.81 billion, a P/E ratio of 23.86, a P/E/G ratio of 2.44 and a beta of 1.00. The business has a 50-day simple moving average of $337.65 and a 200-day simple moving average of $352.23.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.61 by $0.02. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The firm had revenue of $36.42 billion for the quarter, compared to analysts’ expectations of $36.65 billion. During the same quarter in the previous year, the firm posted $3.82 EPS. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. On average, research analysts expect that The Home Depot, Inc. will post 15.28 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $9.00 annualized dividend and a dividend yield of 2.53%. Home Depot’s dividend payout ratio is currently 60.36%.

Insider Buying and Selling

In related news, EVP Matt Carey sold 56,008 shares of Home Depot stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the completion of the transaction, the executive vice president now directly owns 33,325 shares in the company, valued at approximately $11,503,123.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.10% of the company’s stock.

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.