The Home Depot, Inc. (NYSE:HD) Shares Sold by Nordea Investment Management AB

Posted by on Jul 3rd, 2023

Nordea Investment Management AB trimmed its position in The Home Depot, Inc. (NYSE:HD – Free Report) by 2.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,495,738 shares of the home improvement retailer’s stock after selling 39,524 shares during the quarter. Nordea Investment Management AB owned approximately 0.15% of Home Depot worth $431,849,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fairfield Bush & CO. acquired a new stake in Home Depot during the 1st quarter worth $27,000. Glassy Mountain Advisors Inc. acquired a new stake in Home Depot during the 4th quarter worth $30,000. Studio Investment Management LLC acquired a new stake in Home Depot during the 4th quarter worth $32,000. Align Wealth Management LLC acquired a new stake in Home Depot during the 4th quarter worth $30,000. Finally, EWG Elevate Inc. acquired a new stake in Home Depot during the 4th quarter worth $36,000. 69.91% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Stock Up 0.9 %

HD stock opened at $310.64 on Monday. The company has a market cap of $312.31 billion, a P/E ratio of 18.93, a P/E/G ratio of 2.00 and a beta of 0.93. The Home Depot, Inc. has a 52 week low of $265.61 and a 52 week high of $347.25. The company’s 50-day moving average price is $295.79 and its 200 day moving average price is $302.81. The company has a current ratio of 1.27, a quick ratio of 0.28 and a debt-to-equity ratio of 113.02.

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

Home Depot Announces Dividend

The firm 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 2.69%. The ex-dividend date of this dividend was Wednesday, May 31st. Home Depot’s payout ratio is currently 50.94%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on HD. Robert W. Baird lifted their price target on shares of Home Depot from $310.00 to $330.00 in a research note on Tuesday, June 13th. Jefferies Financial Group lifted their price target on shares of Home Depot from $337.00 to $349.00 in a research note on Wednesday, June 14th. 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. Wells Fargo & Company raised their price objective on shares of Home Depot from $325.00 to $345.00 in a research report on Thursday, June 8th. Finally, 92 Resources reissued a “maintains” rating on shares of Home Depot in a research report on Wednesday, May 17th. Twelve equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $323.43.

Insiders Place Their Bets

In other Home Depot news, EVP Hector A. Padilla sold 1,502 shares of Home Depot 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 in the company, valued at $4,090,950.22. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Home Depot Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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