V Square Quantitative Management LLC Invests $1.85 Million in The Home Depot, Inc. (NYSE:HD)

Posted by Defense World Staff on Jul 11th, 2023

V Square Quantitative Management LLC purchased a new position in shares of The Home Depot, Inc. (NYSE:HD – Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 6,270 shares of the home improvement retailer’s stock, valued at approximately $1,850,000. Home Depot accounts for about 1.7% of V Square Quantitative Management LLC’s portfolio, making the stock its 12th largest position.

A number of other institutional investors and hedge funds also recently made changes to their positions in HD. Norges Bank bought a new position in Home Depot in the 4th quarter valued at approximately $3,740,875,000. Moneta Group Investment Advisors LLC raised its stake in shares of Home Depot by 105,205.6% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 10,994,957 shares of the home improvement retailer’s stock valued at $3,472,867,000 after acquiring an additional 10,984,516 shares during the last quarter. Cottage Street Advisors LLC raised its stake in shares of Home Depot by 26,657.7% during 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 acquiring an additional 3,567,063 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Home Depot by 37.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,176,774 shares of the home improvement retailer’s stock valued at $2,582,715,000 after acquiring an additional 2,247,709 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Home Depot during the first quarter valued at $563,524,000. Institutional investors own 69.91% of the company’s stock.

Insider Buying and Selling

In related news, EVP Hector A. Padilla sold 1,502 shares of the business’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 transaction, the executive vice president now directly owns 13,958 shares in the company, valued at $4,090,950.22. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.19% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on HD shares. Wells Fargo & Company raised their price target on shares of Home Depot from $325.00 to $345.00 in a research note on Thursday, June 8th. Truist Financial dropped their price target on shares of Home Depot from $352.00 to $318.00 in a research note on Wednesday, May 17th. 92 Resources reiterated a “maintains” rating on shares of Home Depot in a research report on Wednesday, May 17th. The Goldman Sachs Group lowered their target price on shares of Home Depot from $340.00 to $330.00 in a research note on Tuesday, May 16th. Finally, Loop Capital lifted their target price on shares of Home Depot from $280.00 to $300.00 in a research note on Wednesday, June 14th. Eleven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Home Depot has an average rating of “Moderate Buy” and a consensus target price of $323.43.

Home Depot Trading Up 2.5 %

NYSE:HD opened at $310.28 on Tuesday. 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 firm has a 50-day moving average of $297.14 and a 200-day moving average of $302.30. The company has a market cap of $311.95 billion, a PE ratio of 18.91, a PEG ratio of 1.97 and a beta of 0.94. The Home Depot, Inc. has a one year low of $265.61 and a one year high of $347.25.

Home Depot (NYSE:HD – Get Free Report) last posted its earnings results on Tuesday, May 16th. The home improvement retailer reported $3.82 EPS for the quarter, topping the consensus estimate 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 company had revenue of $37.26 billion during the quarter, compared to the consensus estimate of $38.35 billion. During the same period in the previous year, the firm posted $4.09 earnings per share. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. As a group, equities research analysts expect that The Home Depot, Inc. will post 14.97 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, June 1st were issued a dividend of $2.09 per share. This represents a $8.36 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend was Wednesday, May 31st. Home Depot’s dividend payout ratio (DPR) is presently 50.94%.

About Home Depot

(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.