Carnegie Investment Counsel Boosts Stake in The Home Depot, Inc. (NYSE:HD)

Carnegie Investment Counsel boosted its stake in shares of The Home Depot, Inc. (NYSE:HD) by 1.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,450 shares of the home improvement retailer’s stock after purchasing an additional 660 shares during the period. Carnegie Investment Counsel’s holdings in Home Depot were worth $19,227,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of HD. Cardinal Capital Management Inc. boosted its position in shares of Home Depot by 2.2% in the third quarter. Cardinal Capital Management Inc. now owns 78,459 shares of the home improvement retailer’s stock worth $31,792,000 after purchasing an additional 1,660 shares during the period. Retirement Planning Group LLC lifted its stake in shares of Home Depot by 106.6% during the 3rd quarter. Retirement Planning Group LLC now owns 4,378 shares of the home improvement retailer’s stock valued at $1,774,000 after buying an additional 2,259 shares in the last quarter. City State Bank boosted its holdings in Home Depot by 4.5% in the 3rd quarter. City State Bank now owns 4,579 shares of the home improvement retailer’s stock worth $1,855,000 after buying an additional 198 shares during the period. Montis Financial LLC increased its stake in Home Depot by 41.6% in the 3rd quarter. Montis Financial LLC now owns 1,039 shares of the home improvement retailer’s stock worth $421,000 after buying an additional 305 shares in the last quarter. Finally, HCR Wealth Advisors raised its holdings in Home Depot by 6.3% during the third quarter. HCR Wealth Advisors now owns 9,026 shares of the home improvement retailer’s stock valued at $3,658,000 after acquiring an additional 536 shares during the period. Institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on HD shares. Melius Research initiated coverage on shares of Home Depot in a research report on Monday, September 23rd. They set a “buy” rating and a $420.00 price objective on the stock. Truist Financial decreased their price target on shares of Home Depot from $396.00 to $395.00 and set a “buy” rating on the stock in a research note on Wednesday, August 14th. Loop Capital upgraded Home Depot from a “hold” rating to a “buy” rating and raised their price objective for the company from $360.00 to $460.00 in a research report on Wednesday. Telsey Advisory Group reissued a “market perform” rating and set a $360.00 price target on shares of Home Depot in a research note on Thursday, September 12th. Finally, Royal Bank of Canada reduced their price objective on Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and a consensus target price of $402.38.

Home Depot Trading Up 0.5 %

Shares of NYSE:HD opened at $411.90 on Friday. The company has a market capitalization of $408.45 billion, a PE ratio of 27.63, a P/E/G ratio of 2.88 and a beta of 1.00. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74. The Home Depot, Inc. has a 12-month low of $274.26 and a 12-month high of $420.03. The business’s fifty day simple moving average is $378.34 and its 200-day simple moving average is $357.12.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. The business had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The company’s revenue was up .6% compared to the same quarter last year. During the same period last year, the business earned $4.65 EPS. As a group, equities research analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio is presently 60.36%.

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.