The Home Depot, Inc. (NYSE:HD) Position Reduced by Aurora Private Wealth Inc.

Posted by Defense World Staff on Jun 20th, 2023

Aurora Private Wealth Inc. decreased its position in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 20.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 893 shares of the home improvement retailer’s stock after selling 231 shares during the period. Aurora Private Wealth Inc.’s holdings in Home Depot were worth $263,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HD. Cottage Street Advisors LLC increased its holdings in shares of Home Depot by 26,657.7% in the fourth quarter. Cottage Street Advisors LLC now owns 3,580,444 shares of the home improvement retailer’s stock valued at $659,000 after buying an additional 3,567,063 shares in the last quarter. Sigma Planning Corp increased its holdings in shares of Home Depot by 1.6% in the fourth quarter. Sigma Planning Corp now owns 43,430 shares of the home improvement retailer’s stock valued at $13,718,000 after buying an additional 672 shares in the last quarter. Howard Financial Services LTD. increased its holdings in shares of Home Depot by 7.2% in the first quarter. Howard Financial Services LTD. now owns 727 shares of the home improvement retailer’s stock valued at $215,000 after buying an additional 49 shares in the last quarter. Legacy Bridge LLC increased its holdings in shares of Home Depot by 1.8% in the fourth quarter. Legacy Bridge LLC now owns 5,213 shares of the home improvement retailer’s stock valued at $1,647,000 after buying an additional 90 shares in the last quarter. Finally, Centurion Wealth Management LLC purchased a new position in Home Depot during the 4th quarter worth approximately $411,000. Institutional investors own 69.91% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Telsey Advisory Group lowered their price objective on shares of Home Depot from $340.00 to $315.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 17th. Credit Suisse Group lowered their price objective on shares of Home Depot from $320.00 to $310.00 in a research report on Wednesday, May 17th. Guggenheim lowered their price objective on shares of Home Depot from $335.00 to $320.00 in a research report on Wednesday, May 17th. Roth Mkm lowered their price objective on shares of Home Depot from $312.00 to $292.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 22nd. Finally, Cowen lowered their price objective on shares of Home Depot from $379.00 to $360.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 22nd. Thirteen investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and a consensus price target of $323.43.

Home Depot Stock Down 0.5 %

Home Depot stock opened at $300.38 on Tuesday. The firm has a market cap of $302.00 billion, a price-to-earnings ratio of 18.30, a P/E/G ratio of 1.93 and a beta of 0.93. The company has a debt-to-equity ratio of 113.02, a current ratio of 1.27 and a quick ratio of 0.28. The Home Depot, Inc. has a fifty-two week low of $264.51 and a fifty-two week high of $347.25. The firm has a fifty day moving average price of $293.93 and a two-hundred day moving average price of $304.03.

Home Depot (NYSE:HD – Get Rating) last released its earnings results on Tuesday, May 16th. The home improvement retailer reported $3.82 earnings per share for the quarter, topping analysts’ consensus estimates of $3.80 by $0.02. The firm had revenue of $37.26 billion during the quarter, compared to analyst estimates of $38.35 billion. Home Depot had a net margin of 10.75% and a return on equity of 1,936.63%. The business’s revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.09 EPS. As a group, analysts forecast that The Home Depot, Inc. will post 14.97 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were given a dividend of $2.09 per share. This represents a $8.36 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date was Wednesday, May 31st. Home Depot’s dividend payout ratio is 50.94%.

Insider Activity

In other news, EVP Hector A. Padilla sold 1,502 shares of the company’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $293.09, for a total transaction of $440,221.18. Following the completion of the transaction, the executive vice president now owns 13,958 shares of the company’s stock, valued at $4,090,950.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is owned by company insiders.

About Home Depot

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The Home Depot, Inc operates as a home improvement retailer. 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.