Liontrust Investment Partners LLP Acquires 13,110 Shares of The Home Depot, Inc. $HD

Key Points

• Liontrust Investment Partners LLP increased its holdings in The Home Depot by 54.6% during the first quarter of 2023, now owning 37,129 shares valued at approximately $13.6 million.
• In the first quarter, several other institutional investors, including Navigoe LLC and Abound Financial LLC, made new purchases in Home Depot, reflecting continued institutional interest in the company.
• Home Depot's recent earnings report revealed an EPS of $3.56, missing estimates slightly, but revenue was up by 9.4% year-over-year, indicating resilient business performance.

Liontrust Investment Partners LLP lifted its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 54.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,129 shares of the home improvement retailer's stock after purchasing an additional 13,110 shares during the quarter. Liontrust Investment Partners LLP's holdings in Home Depot were worth $13,607,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Invst LLC boosted its holdings in shares of Home Depot by 0.4% in the 4th quarter. Invst LLC now owns 6,738 shares of the home improvement retailer's stock valued at $2,621,000 after purchasing an additional 28 shares in the last quarter. Financial Insights Inc. lifted its stake in shares of Home Depot by 3.3% in the first quarter. Financial Insights Inc. now owns 880 shares of the home improvement retailer's stock worth $323,000 after acquiring an additional 28 shares during the period. Wayfinding Financial LLC increased its position in shares of Home Depot by 1.2% during the first 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. Pure Portfolios Holdings LLC lifted its stake in shares of Home Depot by 4.7% in the 1st quarter. Pure Portfolios Holdings LLC now owns 623 shares of the home improvement retailer's stock valued at $228,000 after purchasing an additional 28 shares during the period. Finally, First Interstate Bank boosted its holdings in shares of Home Depot by 0.3% during the 1st quarter. First Interstate Bank now owns 9,020 shares of the home improvement retailer's stock worth $3,306,000 after buying an additional 28 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Gordon Haskett upped their price objective on shares of Home Depot from $350.00 to $360.00 in a report on Tuesday, May 20th. Truist Financial raised their price objective on Home Depot from $417.00 to $433.00 and gave the company a "buy" rating in a research note on Wednesday, August 13th. DA Davidson reiterated a "buy" rating and issued a $450.00 target price on shares of Home Depot in a report on Tuesday. Royal Bank Of Canada decreased their price target on shares of Home Depot from $424.00 to $399.00 and set a "sector perform" rating for the company in a research note on Thursday, May 15th. Finally, Jefferies Financial Group dropped their price objective on shares of Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Home Depot currently has a consensus rating of "Moderate Buy" and a consensus price target of $427.76.

Insiders Place Their Bets

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm'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 in the company, valued at approximately $6,413,285.76. This trade represents a 23.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Fahim Siddiqui sold 2,600 shares of the 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 transaction, the executive vice president directly owned 7,951 shares in the company, valued at approximately $2,919,130.14. This represents a 24.64% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.

Home Depot Stock Performance

Shares of Home Depot stock traded up $11.5230 during trading hours on Tuesday, reaching $406.2230. The company had a trading volume of 7,606,013 shares, compared to its average volume of 3,541,694. The business has a fifty day simple moving average of $371.05 and a 200 day simple moving average of $371.19. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. The firm has a market cap of $404.16 billion, a PE ratio of 27.56, a price-to-earnings-growth ratio of 3.80 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last posted its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.69 by ($0.01). The firm had revenue of $45.28 billion during the quarter, compared to analysts' expectations of $45.43 billion. Home Depot had a return on equity of 242.51% and a net margin of 8.98%.The business's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot's payout ratio is currently 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.