DNB Asset Management AS Boosts Stock Position in The Home Depot, Inc. $HD

Key Points

• DNB Asset Management AS increased its Home Depot stake by 2.2% in the fourth quarter, buying 4,408 additional shares and bringing its total to 205,394 shares worth about $70.7 million.
• Home Depot continues to attract broad institutional interest, with investors such as Vanguard and Wellington also adding to positions; institutions now own 70.86% of the company.
• Analysts remain mixed but generally constructive: the stock has a Moderate Buy consensus with an average target of $405.66, while recent updates include a price-target cut from Bernstein and a reaffirmed Buy rating from Telsey Advisory.

DNB Asset Management AS raised its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 2.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 205,394 shares of the home improvement retailer's stock after purchasing an additional 4,408 shares during the quarter. DNB Asset Management AS's holdings in Home Depot were worth $70,676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of HD. Wellington Management Group LLP grew its stake in Home Depot by 60.8% in the 3rd quarter. Wellington Management Group LLP now owns 10,143,089 shares of the home improvement retailer's stock valued at $4,109,878,000 after purchasing an additional 3,836,051 shares during the period. Vanguard Group Inc. grew its stake in Home Depot by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 99,635,779 shares of the home improvement retailer's stock valued at $34,284,672,000 after purchasing an additional 1,325,748 shares during the period. Franklin Resources Inc. grew its stake in Home Depot by 37.6% in the 3rd quarter. Franklin Resources Inc. now owns 3,806,308 shares of the home improvement retailer's stock valued at $1,542,278,000 after purchasing an additional 1,040,577 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Home Depot by 215.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,248,615 shares of the home improvement retailer's stock valued at $429,648,000 after purchasing an additional 852,719 shares during the period. Finally, Alyeska Investment Group L.P. bought a new position in Home Depot in the 3rd quarter valued at $284,893,000. Institutional investors own 70.86% of the company's stock.

More Home Depot News

Here are the key news stories impacting Home Depot this week:

• Positive Sentiment: Telsey Advisory reiterated a Buy rating on Home Depot, suggesting at least one Wall Street firm still sees value in the shares despite recent volatility.
• Positive Sentiment: Some commentary has highlighted Home Depot as a potential beneficiary if housing turnover and mortgage-rate conditions improve, which could support future sales and earnings.
• Neutral Sentiment: Investors are watching Home Depot closely ahead of earnings on May 19, with articles focusing on whether pro demand, digital tools, and repair projects can offset a weaker housing backdrop.
• Neutral Sentiment: Jim Cramer said Home Depot can perform well in a lower-rate environment, but also noted the stock needs stronger housing turnover to really accelerate.
• Negative Sentiment: Sanford C. Bernstein cut its price target on Home Depot to $365 from $390 and kept a Market Perform rating, reflecting a more cautious view on near-term upside.
• Negative Sentiment: A new class-action lawsuit reportedly pressured the stock, adding legal uncertainty at an already sensitive time for investors.
• Negative Sentiment: Recent pre-earnings pullback and broader worries about housing turnover have also weighed on sentiment, helping explain why Home Depot stock has been moving lower.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Zacks Research upgraded Home Depot from a "strong sell" rating to a "hold" rating in a research note on Monday, February 9th. Weiss Ratings reissued a "hold (c+)" rating on shares of Home Depot in a report on Friday, March 27th. Morgan Stanley raised their target price on Home Depot from $412.00 to $420.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 28th. Jefferies Financial Group raised their target price on Home Depot from $424.00 to $454.00 and gave the stock a "buy" rating in a research report on Tuesday, February 24th. Finally, KeyCorp reissued a "sector weight" rating on shares of Home Depot in a research report on Wednesday, February 25th. Twenty research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $405.66.

Home Depot Stock Performance

NYSE:HD opened at $297.34 on Friday. The company has a debt-to-equity ratio of 3.62, a current ratio of 1.06 and a quick ratio of 0.26. The business has a fifty day simple moving average of $331.77 and a two-hundred day simple moving average of $354.39. The Home Depot, Inc. has a 1 year low of $296.88 and a 1 year high of $426.75. The company has a market capitalization of $296.16 billion, a P/E ratio of 20.90, a P/E/G ratio of 3.51 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last released its earnings results on Tuesday, February 24th. The home improvement retailer reported $2.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.52 by $0.20. Home Depot had a return on equity of 134.32% and a net margin of 8.60%.The business had revenue of $38.20 billion during the quarter, compared to the consensus estimate of $38.01 billion. During the same period last year, the business posted $3.13 earnings per share. The business's revenue for the quarter was down 3.8% on a year-over-year basis. Home Depot has set its FY 2026 guidance at 14.230-14.799 EPS. On average, analysts expect that The Home Depot, Inc. will post 15.03 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Thursday, March 12th were paid a dividend of $2.33 per share. This represents a $9.32 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Thursday, March 12th. This is a positive change from Home Depot's previous quarterly dividend of $2.30. Home Depot's dividend payout ratio is presently 65.50%.

Insider Transactions at Home Depot

In related news, CFO Richard V. Mcphail sold 2,550 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $368.89, for a total transaction of $940,669.50. Following the sale, the chief financial officer owned 44,566 shares of the company's stock, valued at approximately $16,439,951.74. This represents a 5.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.08% of the company's stock.

Home Depot Company Profile

The Home Depot, Inc NYSE: HD is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.

Home Depot's core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.