Convergence Investment Partners LLC Sells 1,457 Shares of The Home Depot, Inc. (NYSE:HD)

Convergence Investment Partners LLC reduced its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 10.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,753 shares of the home improvement retailer's stock after selling 1,457 shares during the period. Home Depot accounts for approximately 1.3% of Convergence Investment Partners LLC's holdings, making the stock its 16th biggest position. Convergence Investment Partners LLC's holdings in Home Depot were worth $4,674,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Navigoe LLC acquired a new position in shares of Home Depot during the 4th quarter worth $29,000. Abound Financial LLC bought a new stake in shares of Home Depot during the 1st quarter worth $31,000. Iron Horse Wealth Management LLC boosted its holdings in shares of Home Depot by 86.8% during the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock worth $36,000 after buying an additional 46 shares during the period. Quarry LP boosted its holdings in shares of Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock worth $37,000 after buying an additional 66 shares during the period. Finally, Sellwood Investment Partners LLC bought a new stake in shares of Home Depot during the 4th quarter worth $39,000. 70.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. TD Securities downgraded shares of Home Depot to a "buy" rating in a report on Monday, June 2nd. Gordon Haskett increased their price target on shares of Home Depot from $350.00 to $360.00 in a report on Tuesday, May 20th. Guggenheim reissued a "buy" rating and issued a $450.00 price target on shares of Home Depot in a report on Wednesday, May 21st. Mizuho reduced their price target on shares of Home Depot from $450.00 to $435.00 and set an "outperform" rating for the company in a report on Wednesday, May 21st. Finally, Truist Financial increased their price target on shares of Home Depot from $393.00 to $417.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Seven analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Home Depot presently has a consensus rating of "Moderate Buy" and an average price target of $426.77.

Insider Activity

In other Home Depot news, 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 sale, the executive vice president directly owned 7,951 shares in the company, valued at $2,919,130.14. This represents a 24.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the stock in a transaction dated Wednesday, May 28th. The stock was 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 $6,413,285.76. The trade was a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company's stock.

Home Depot Trading Up 0.6%

Home Depot stock traded up $2.08 during mid-day trading on Friday, hitting $375.17. 2,220,183 shares of the company's stock were exchanged, compared to its average volume of 3,349,543. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The company's 50 day simple moving average is $365.59 and its 200-day simple moving average is $373.93. The firm has a market capitalization of $373.27 billion, a P/E ratio of 25.45, a PEG ratio of 3.55 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). The business had revenue of $39.86 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.63 EPS. On average, equities analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

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

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.