Concurrent Investment Advisors LLC Buys 7,768 Shares of The Home Depot, Inc. (NYSE:HD)

Concurrent Investment Advisors LLC lifted its stake in shares of The Home Depot, Inc. (NYSE:HD) by 14.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 60,025 shares of the home improvement retailer’s stock after buying an additional 7,768 shares during the period. Concurrent Investment Advisors LLC’s holdings in Home Depot were worth $21,999,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Braun Stacey Associates Inc. increased its holdings in Home Depot by 0.3% in the 1st quarter. Braun Stacey Associates Inc. now owns 53,664 shares of the home improvement retailer’s stock worth $19,667,000 after purchasing an additional 174 shares in the last quarter. Elite Financial Inc. bought a new stake in shares of Home Depot during the first quarter worth about $89,000. World Investment Advisors increased its stake in shares of Home Depot by 1.0% in the first quarter. World Investment Advisors now owns 57,580 shares of the home improvement retailer’s stock valued at $21,103,000 after buying an additional 574 shares during the period. VELA Investment Management LLC raised its holdings in Home Depot by 14.0% in the 1st quarter. VELA Investment Management LLC now owns 3,516 shares of the home improvement retailer’s stock valued at $1,289,000 after buying an additional 431 shares during the last quarter. Finally, Wayfinding Financial LLC boosted its position in Home Depot by 1.2% during the 1st quarter. Wayfinding Financial LLC now owns 2,353 shares of the home improvement retailer’s stock worth $862,000 after buying an additional 28 shares during the period. 70.86% of the stock is currently owned by institutional investors.

Home Depot Trading Down 0.1%

HD opened at $371.36 on Friday. The company has a market cap of $369.47 billion, a P/E ratio of 25.19, a price-to-earnings-growth ratio of 3.53 and a beta of 1.00. The company has a fifty day moving average price of $365.14 and a two-hundred day moving average price of $376.33. The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 5.95. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). The firm had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm earned $3.63 earnings per share. Analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date was Thursday, June 5th. Home Depot’s payout ratio is 62.42%.

Insider Buying and Selling

In related news, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total value of $954,564.00. Following the completion of the sale, the executive vice president owned 7,951 shares of the company’s stock, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the business’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the sale, the executive vice president owned 17,367 shares of the company’s stock, valued at $6,413,285.76. This trade represents a 23.74% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Mizuho decreased their price target on shares of Home Depot from $450.00 to $435.00 and set an “outperform” rating for the company in a research report on Wednesday, May 21st. Robert W. Baird decreased their price objective on Home Depot from $430.00 to $425.00 and set an “outperform” rating for the company in a report on Wednesday, May 21st. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $398.00 target price (up from $380.00) on shares of Home Depot in a research report on Wednesday, May 21st. Piper Sandler cut their target price on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. Finally, Truist Financial increased their price target on Home Depot from $393.00 to $417.00 and gave the company a “buy” rating in a research note on Tuesday, May 20th. Seven investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $426.77.

Home Depot Company Profile

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. 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.