Envestnet Portfolio Solutions Inc. Reduces Stock Position in The Home Depot, Inc. (NYSE:HD)

Envestnet Portfolio Solutions Inc. cut its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 14.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 124,903 shares of the home improvement retailer's stock after selling 20,722 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Home Depot were worth $45,776,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Home Depot during the fourth quarter worth $5,032,910,000. GAMMA Investing LLC grew its position in Home Depot by 39,194.1% during the 1st quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock worth $37,517,230,000 after purchasing an additional 10,210,851 shares during the period. Raymond James Financial Inc. acquired a new stake in Home Depot during the 4th quarter worth about $2,212,546,000. Proficio Capital Partners LLC raised its stake in shares of Home Depot by 21,394.9% during the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer's stock valued at $793,486,000 after buying an additional 2,030,372 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Home Depot by 13.3% in the 4th quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock valued at $4,726,186,000 after buying an additional 1,424,857 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm's stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 17,367 shares in the company, valued at approximately $6,413,285.76. This trade represents a 23.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Fahim Siddiqui sold 2,600 shares of the business's 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 transaction, the executive vice president now owns 7,951 shares in the company, valued at $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 company insiders.

Wall Street Analyst Weigh In

HD has been the topic of several analyst reports. Hsbc Global Res raised Home Depot from a "moderate sell" rating to a "hold" rating in a report on Wednesday, February 26th. HSBC raised shares of Home Depot from a "reduce" rating to a "hold" rating and raised their price objective for the stock from $356.00 to $410.00 in a research note on Wednesday, February 26th. Truist Financial boosted their target price on shares of Home Depot from $393.00 to $417.00 and gave the company a "buy" rating in a research note on Tuesday, May 20th. JPMorgan Chase & Co. raised their price target on shares of Home Depot from $410.00 to $418.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. Finally, TD Securities cut shares of Home Depot to a "buy" rating in a report on Monday, June 2nd. Seven equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $426.77.

Home Depot Trading Down 0.7%

Shares of HD opened at $346.41 on Thursday. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37. The stock has a market cap of $344.65 billion, a PE ratio of 23.50, a price-to-earnings-growth ratio of 3.32 and a beta of 1.02. The firm's fifty day moving average is $362.86 and its two-hundred day moving average is $381.18. 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 for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). The business had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The business's revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.63 earnings per share. Research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were issued a $2.30 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 annualized dividend and a dividend yield of 2.66%. Home Depot's dividend payout ratio is presently 62.42%.

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.

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