NorthCrest Asset Manangement LLC Buys 2,714 Shares of The Home Depot, Inc. (NYSE:HD)

Posted by on Jul 12th, 2023

NorthCrest Asset Manangement LLC boosted its holdings in The Home Depot, Inc. (NYSE:HD – Free Report) by 5.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,824 shares of the home improvement retailer’s stock after acquiring an additional 2,714 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Home Depot were worth $16,475,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Fairfield Bush & CO. bought a new position in shares of Home Depot in the 1st quarter valued at about $27,000. Align Wealth Management LLC bought a new position in shares of Home Depot during the 4th quarter worth $30,000. Glassy Mountain Advisors Inc. purchased a new stake in shares of Home Depot during the fourth quarter valued at about $30,000. Studio Investment Management LLC purchased a new stake in Home Depot in the fourth quarter valued at about $32,000. Finally, EWG Elevate Inc. purchased a new stake in shares of Home Depot during the fourth quarter valued at $36,000. 69.91% of the stock is owned by institutional investors.

Insider Transactions at Home Depot

In other news, EVP Hector A. Padilla sold 1,502 shares of Home Depot stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $293.09, for a total value of $440,221.18. Following the completion of the transaction, the executive vice president now directly owns 13,958 shares of the company’s stock, valued at approximately $4,090,950.22. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.19% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on HD shares. Morgan Stanley reduced their price target on shares of Home Depot from $340.00 to $320.00 in a research report on Wednesday, May 17th. Credit Suisse Group cut their target price on shares of Home Depot from $320.00 to $310.00 in a research note on Wednesday, May 17th. Guggenheim dropped their price target on shares of Home Depot from $335.00 to $320.00 in a research note on Wednesday, May 17th. Telsey Advisory Group decreased their price objective on Home Depot from $340.00 to $315.00 and set an “outperform” rating for the company in a report on Wednesday, May 17th. Finally, Wells Fargo & Company boosted their target price on Home Depot from $325.00 to $345.00 in a report on Thursday, June 8th. Twelve equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $323.43.

Home Depot Trading Up 1.1 %

HD stock opened at $313.66 on Wednesday. The Home Depot, Inc. has a one year low of $265.61 and a one year high of $347.25. The stock has a market cap of $315.35 billion, a price-to-earnings ratio of 19.11, a price-to-earnings-growth ratio of 1.97 and a beta of 0.94. The company has a fifty day moving average price of $297.53 and a two-hundred day moving average price of $302.26. The company has a debt-to-equity ratio of 113.02, a current ratio of 1.27 and a quick ratio of 0.28.

Home Depot (NYSE:HD – Get Free Report) last announced its quarterly earnings data on Tuesday, May 16th. The home improvement retailer reported $3.82 earnings per share for the quarter, beating the consensus estimate of $3.80 by $0.02. The firm had revenue of $37.26 billion during the quarter, compared to analysts’ expectations of $38.35 billion. Home Depot had a return on equity of 1,936.63% and a net margin of 10.75%. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.09 EPS. Equities analysts anticipate that The Home Depot, Inc. will post 14.97 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, June 1st were issued a $2.09 dividend. The ex-dividend date was Wednesday, May 31st. This represents a $8.36 dividend on an annualized basis and a yield of 2.67%. Home Depot’s dividend payout ratio (DPR) is presently 50.94%.

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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