Carnegie Investment Counsel Grows Position in The Home Depot, Inc. (NYSE:HD)

Carnegie Investment Counsel boosted its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 88.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,913 shares of the home improvement retailer's stock after purchasing an additional 43,982 shares during the quarter. Carnegie Investment Counsel's holdings in Home Depot were worth $33,193,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Navigoe LLC acquired a new stake in shares of Home Depot in the 4th quarter valued at about $29,000. Abound Financial LLC purchased a new stake in Home Depot in the first quarter valued at approximately $31,000. Quarry LP boosted its holdings in shares of Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock valued at $37,000 after acquiring an additional 66 shares during the period. Iron Horse Wealth Management LLC grew its position in shares of Home Depot by 86.8% during the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock worth $36,000 after acquiring an additional 46 shares during the last quarter. Finally, Sellwood Investment Partners LLC purchased a new position in shares of Home Depot during the fourth quarter worth approximately $39,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Price Performance

Shares of NYSE HD traded up $2.08 during midday trading on Friday, hitting $375.17. The company had a trading volume of 2,220,183 shares, compared to its average volume of 3,349,543. The firm has a market capitalization of $373.27 billion, a price-to-earnings ratio of 25.45, a price-to-earnings-growth ratio of 3.55 and a beta of 1.00. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37. The business has a 50-day simple moving average of $365.70 and a two-hundred day simple moving average of $373.99. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). The company had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. Home Depot's revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.63 earnings per share. Equities research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were issued a dividend of $2.30 per share. The ex-dividend date was Thursday, June 5th. This represents a $9.20 annualized dividend and a yield of 2.45%. Home Depot's dividend payout ratio is presently 62.42%.

Wall Street Analyst Weigh In

Several research firms recently commented on HD. Truist Financial upped their price target on shares of Home Depot from $393.00 to $417.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. Mizuho dropped their price objective on shares of Home Depot from $450.00 to $435.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 21st. Jefferies Financial Group decreased their target price on shares of Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. Stifel Nicolaus raised Home Depot from a "hold" rating to a "buy" rating and raised their price target for the stock from $405.00 to $425.00 in a report on Wednesday, May 21st. Finally, Guggenheim restated a "buy" rating and issued a $450.00 price target on shares of Home Depot in a research report on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $426.77.

Insiders Place Their Bets

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of the business's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total value of $1,996,327.68. Following the sale, the executive vice president directly owned 17,367 shares in the company, valued at $6,413,285.76. The trade was a 23.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total transaction of $954,564.00. Following the completion of the sale, the executive vice president directly owned 7,951 shares in the company, valued at approximately $2,919,130.14. The trade was a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.

About Home Depot

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.