Tortoise Investment Management LLC Takes Position in The Home Depot, Inc. $HD

Key Points

• Tortoise Investment Management initiated a Home Depot position by purchasing 3,407 shares valued at approximately $1.2 million. Institutional investors collectively own 70.86% of the company.
• Home Depot beat quarterly expectations, reporting $4.92 in adjusted EPS and $47.86 billion in revenue, with sales up 5.7% year over year.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and a $375.54 price target. Home Depot also declared a quarterly dividend of $2.33 per share, representing a 2.8% annualized yield.

Tortoise Investment Management LLC purchased a new position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,407 shares of the home improvement retailer's stock, valued at approximately $1,202,000.

Other institutional investors also recently modified their holdings of the company. Curio Wealth LLC lifted its holdings in Home Depot by 13.5% during the 4th quarter. Curio Wealth LLC now owns 218 shares of the home improvement retailer's stock worth $76,000 after buying an additional 26 shares during the period. Canandaigua National Trust Co of Florida increased its stake in shares of Home Depot by 1.3% in the fourth quarter. Canandaigua National Trust Co of Florida now owns 2,178 shares of the home improvement retailer's stock valued at $749,000 after buying an additional 27 shares during the period. Moneco Advisors LLC raised its position in shares of Home Depot by 0.3% during the fourth quarter. Moneco Advisors LLC now owns 8,743 shares of the home improvement retailer's stock worth $3,008,000 after acquiring an additional 27 shares during the last quarter. Noesis Capital Mangement Corp lifted its stake in shares of Home Depot by 1.5% in the fourth quarter. Noesis Capital Mangement Corp now owns 1,770 shares of the home improvement retailer's stock worth $609,000 after acquiring an additional 27 shares during the period. Finally, Eubel Brady & Suttman Asset Management Inc. boosted its holdings in Home Depot by 1.3% in the fourth quarter. Eubel Brady & Suttman Asset Management Inc. now owns 2,130 shares of the home improvement retailer's stock valued at $733,000 after acquiring an additional 27 shares during the last quarter. Institutional investors own 70.86% of the company's stock.

Analyst Upgrades and Downgrades

HD has been the subject of several analyst reports. Truist Financial raised their price target on shares of Home Depot from $369.00 to $373.00 and gave the stock a "buy" rating in a report on Wednesday, August 19th. Weiss Ratings raised shares of Home Depot from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, July 7th. UBS Group decreased their price objective on shares of Home Depot from $430.00 to $420.00 and set a "buy" rating for the company in a research report on Wednesday, August 19th. The Goldman Sachs Group dropped their target price on shares of Home Depot from $409.00 to $390.00 and set a "buy" rating on the stock in a report on Wednesday, May 20th. Finally, Morgan Stanley decreased their price target on Home Depot from $420.00 to $400.00 and set an "overweight" rating for the company in a report on Wednesday, May 20th. Eighteen research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Home Depot has a consensus rating of "Moderate Buy" and a consensus price target of $375.54.

Home Depot Stock Performance

NYSE HD opened at $337.54 on Tuesday. The company has a fifty day moving average price of $341.02 and a 200-day moving average price of $339.89. The firm has a market cap of $336.56 billion, a price-to-earnings ratio of 23.62, a PEG ratio of 3.70 and a beta of 0.95. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.08 and a quick ratio of 0.31. The Home Depot, Inc. has a 1 year low of $289.10 and a 1 year high of $426.75.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings results on Tuesday, August 18th. The home improvement retailer reported $4.92 earnings per share for the quarter, beating analysts' consensus estimates of $4.73 by $0.19. Home Depot had a net margin of 8.41% and a return on equity of 106.42%. The company had revenue of $47.86 billion for the quarter, compared to analyst estimates of $47.24 billion. During the same period last year, the firm earned $4.68 earnings per share. The firm's revenue was up 5.7% on a year-over-year basis. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. As a group, equities research analysts predict that The Home Depot, Inc. will post 14.99 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Thursday, September 3rd will be given a dividend of $2.33 per share. This represents a $9.32 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Thursday, September 3rd. Home Depot's dividend payout ratio (DPR) is presently 65.22%.

Insider Buying and Selling

In other Home Depot news, CFO Richard V. Mcphail sold 5,989 shares of the business's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $348.40, for a total value of $2,086,567.60. Following the transaction, the chief financial officer owned 48,104 shares of the company's stock, valued at approximately $16,759,433.60. The trade was a 11.07% 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. 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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source