Investment Management Corp of Ontario Purchases 6,689 Shares of The Home Depot, Inc. $HD

Investment Management Corp of Ontario grew its position in The Home Depot, Inc. (NYSE:HD) by 14.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 53,222 shares of the home improvement retailer’s stock after buying an additional 6,689 shares during the period. Investment Management Corp of Ontario’s holdings in Home Depot were worth $19,513,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Tripletail Wealth Management LLC bought a new position in Home Depot in the 2nd quarter valued at approximately $490,000. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna bought a new stake in shares of Home Depot in the 2nd quarter worth $1,027,000. Lombard Odier Asset Management USA Corp purchased a new position in shares of Home Depot in the second quarter worth $206,000. Fayez Sarofim & Co lifted its holdings in shares of Home Depot by 4.0% during the second quarter. Fayez Sarofim & Co now owns 684,271 shares of the home improvement retailer’s stock valued at $250,881,000 after purchasing an additional 26,473 shares in the last quarter. Finally, Sagard Holdings Management Inc. purchased a new stake in shares of Home Depot during the second quarter valued at $29,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Sanford C. Bernstein reissued a “market perform” rating and issued a $362.00 target price on shares of Home Depot in a research report on Monday, November 24th. Daiwa Capital Markets reduced their price target on shares of Home Depot from $399.00 to $348.00 and set a “neutral” rating for the company in a research note on Monday, November 24th. Citigroup decreased their price objective on shares of Home Depot from $422.00 to $407.00 and set a “buy” rating for the company in a report on Friday, November 21st. JPMorgan Chase & Co. dropped their target price on shares of Home Depot from $444.00 to $423.00 and set an “overweight” rating on the stock in a report on Wednesday, November 19th. Finally, TD Cowen cut their target price on shares of Home Depot from $470.00 to $410.00 and set a “buy” rating for the company in a research report on Wednesday, November 19th. Twenty-one investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $403.50.

Home Depot Stock Performance

NYSE:HD opened at $349.54 on Tuesday. The company has a debt-to-equity ratio of 3.82, a quick ratio of 0.29 and a current ratio of 1.05. The stock has a 50-day simple moving average of $371.92 and a two-hundred day simple moving average of $379.73. The firm has a market capitalization of $347.97 billion, a PE ratio of 23.83, a P/E/G ratio of 6.25 and a beta of 1.06. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $436.36.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.09). The company had revenue of $41.35 billion for the quarter, compared to analysts’ expectations of $41.06 billion. Home Depot had a net margin of 8.77% and a return on equity of 160.74%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm earned $3.78 earnings per share. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. Analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be given a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Thursday, December 4th. Home Depot’s dividend payout ratio is presently 62.71%.

Insider Activity

In other news, EVP William D. Bastek sold 2,303 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $423.12, for a total value of $974,445.36. Following the completion of the sale, the executive vice president directly owned 24,235 shares of the company’s stock, valued at $10,254,313.20. This represents a 8.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.10% of the stock is currently owned by company insiders.

Home Depot 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.