Lincoln Capital LLC Grows Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Posted by Defense World Staff on Jul 16th, 2023

Lincoln Capital LLC grew its holdings in shares of The Home Depot, Inc. (NYSE:HD – Free Report) by 1.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 3,777 shares of the home improvement retailer’s stock after purchasing an additional 36 shares during the period. Lincoln Capital LLC’s holdings in Home Depot were worth $1,115,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. BCK Partners Inc. purchased a new position in Home Depot in the 1st quarter worth approximately $2,933,000. Fairfield Bush & CO. purchased a new position in Home Depot in the 1st quarter worth approximately $27,000. Ergoteles LLC purchased a new position in Home Depot in the 1st quarter worth approximately $1,554,000. Equitable Holdings Inc. raised its holdings in Home Depot by 7.4% in the 1st quarter. Equitable Holdings Inc. now owns 14,628 shares of the home improvement retailer’s stock worth $4,379,000 after acquiring an additional 1,007 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in Home Depot by 3.2% in the 1st quarter. First Trust Advisors LP now owns 791,318 shares of the home improvement retailer’s stock worth $236,865,000 after acquiring an additional 24,640 shares during the last quarter. 69.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. The Goldman Sachs Group cut their target price on shares of Home Depot from $340.00 to $330.00 in a research report on Tuesday, May 16th. Wedbush cut their target price on shares of Home Depot from $300.00 to $290.00 in a research report on Wednesday, May 17th. Robert W. Baird lifted their target price on shares of Home Depot from $310.00 to $330.00 in a research report on Tuesday, June 13th. StockNews.com downgraded shares of Home Depot from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Finally, Telsey Advisory Group cut their price objective on shares of Home Depot from $340.00 to $315.00 and set an “outperform” rating for the company in a research report on Wednesday, May 17th. Twelve research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $324.50.

Insider Activity at Home Depot

In related 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 transaction, the executive vice president now directly owns 13,958 shares in the company, valued at approximately $4,090,950.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is currently owned by insiders.

Home Depot Stock Up 0.6 %

Shares of NYSE HD opened at $316.50 on Friday. The firm’s 50-day moving average price is $299.13 and its 200-day moving average price is $302.32. The company has a current ratio of 1.27, a quick ratio of 0.28 and a debt-to-equity ratio of 113.02. The stock has a market capitalization of $318.20 billion, a price-to-earnings ratio of 19.29, a P/E/G ratio of 2.04 and a beta of 0.94. The Home Depot, Inc. has a 12-month low of $265.61 and a 12-month high of $347.25.

Home Depot (NYSE:HD – Get Free Report) last announced its earnings results on Tuesday, May 16th. The home improvement retailer reported $3.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.80 by $0.02. The firm had revenue of $37.26 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the company earned $4.09 EPS. On average, equities research analysts anticipate that The Home Depot, Inc. will post 14.97 EPS for the current fiscal year.

Home Depot Dividend Announcement

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. The ex-dividend date was Wednesday, May 31st. This represents a $8.36 annualized dividend and a yield of 2.64%. Home Depot’s payout ratio is 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.