Penserra Capital Management LLC boosted its holdings in shares of The Home Depot, Inc. (NYSE:HD – Free Report) by 12.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 475,335 shares of the home improvement retailer’s stock after buying an additional 51,128 shares during the period. Home Depot makes up about 2.9% of Penserra Capital Management LLC’s portfolio, making the stock its 7th largest position. Penserra Capital Management LLC’s holdings in Home Depot were worth $140,279,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in HD. Fairfield Bush & CO. bought a new position in Home Depot during the 1st quarter valued at $27,000. Glassy Mountain Advisors Inc. purchased a new stake in shares of Home Depot in the fourth quarter valued at about $30,000. Studio Investment Management LLC bought a new position in shares of Home Depot during the fourth quarter valued at about $32,000. Align Wealth Management LLC purchased a new position in Home Depot during the fourth quarter worth about $30,000. Finally, EWG Elevate Inc. bought a new stake in Home Depot in the 4th quarter worth about $36,000. 69.91% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on the company. TheStreet downgraded Home Depot from a “b” rating to a “c+” rating in a research note on Tuesday, May 16th. Wedbush cut their price objective on Home Depot from $300.00 to $290.00 in a research report on Wednesday, May 17th. Wells Fargo & Company raised their target price on Home Depot from $325.00 to $345.00 in a research report on Thursday, June 8th. Telsey Advisory Group cut their price target on shares of Home Depot from $340.00 to $315.00 and set an “outperform” rating on the stock in a report on Wednesday, May 17th. Finally, Robert W. Baird raised their price objective on shares of Home Depot from $310.00 to $330.00 in a report on Tuesday, June 13th. Eleven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $323.43.
Home Depot Stock Performance
Home Depot (NYSE:HD – Free Report) last announced its earnings results on Tuesday, May 16th. The home improvement retailer reported $3.82 earnings per share for the quarter, beating analysts’ consensus estimates of $3.80 by $0.02. Home Depot had a net margin of 10.75% and a return on equity of 1,936.63%. The business had revenue of $37.26 billion for the quarter, compared to the consensus estimate of $38.35 billion. During the same period last year, the firm posted $4.09 earnings per share. Home Depot’s quarterly revenue was down 4.2% on a year-over-year basis. As a group, equities analysts forecast that The Home Depot, Inc. will post 14.97 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 15th. Stockholders of record on Thursday, June 1st were issued a dividend of $2.09 per share. This represents a $8.36 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date was Wednesday, May 31st. Home Depot’s dividend payout ratio is currently 50.94%.
Insider Buying and Selling
In other Home Depot news, EVP Hector A. Padilla sold 1,502 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $293.09, for a total transaction of $440,221.18. Following the sale, the executive vice president now owns 13,958 shares in the company, valued at $4,090,950.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is owned by company insiders.
About Home Depot
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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