Twin Capital Management Inc. Lowers Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Twin Capital Management Inc. cut its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 2.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,519 shares of the home improvement retailer’s stock after selling 415 shares during the quarter. Home Depot comprises approximately 0.8% of Twin Capital Management Inc.’s portfolio, making the stock its 20th biggest holding. Twin Capital Management Inc.’s holdings in Home Depot were worth $6,787,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Asset Planning Services Inc. LA ADV boosted its holdings in shares of Home Depot by 99,400.7% in the 1st quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer’s stock valued at $6,954,431,000 after purchasing an additional 18,956,701 shares during the last quarter. Norges Bank purchased a new position in shares of Home Depot in the 4th quarter worth $5,032,910,000. GAMMA Investing LLC boosted its holdings in Home Depot by 39,194.1% in the first quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer’s stock valued at $37,517,230,000 after acquiring an additional 10,210,851 shares during the last quarter. Northern Trust Corp grew its position in Home Depot by 13.3% during the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock valued at $4,726,186,000 after acquiring an additional 1,424,857 shares during the period. Finally, Castlekeep Investment Advisors LLC purchased a new stake in Home Depot during the fourth quarter valued at about $471,189,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Price Performance

Shares of NYSE:HD opened at $359.32 on Friday. The company has a market cap of $357.50 billion, a PE ratio of 24.38, a P/E/G ratio of 3.42 and a beta of 1.00. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The firm has a 50-day simple moving average of $366.03 and a 200 day simple moving average of $374.38. 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) last announced its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.03). The firm had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The business’s revenue was up 9.4% compared to the same quarter last year. During the same period last year, the firm posted $3.63 EPS. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were given a $2.30 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a yield of 2.56%. Home Depot’s dividend payout ratio is presently 62.42%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on HD shares. DA Davidson decreased their price objective on shares of Home Depot from $470.00 to $450.00 in a research note on Tuesday, May 20th. Gordon Haskett upped their price target on shares of Home Depot from $350.00 to $360.00 in a research report on Tuesday, May 20th. Truist Financial raised their price objective on Home Depot from $393.00 to $417.00 and gave the company a “buy” rating in a research report on Tuesday, May 20th. Royal Bank Of Canada reduced their price objective on Home Depot from $424.00 to $399.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 15th. Finally, Stifel Nicolaus upgraded Home Depot from a “hold” rating to a “buy” rating and increased their target price for the company from $405.00 to $425.00 in a research note on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $426.77.

Insider Transactions at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the business’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total value of $1,996,327.68. Following the sale, the executive vice president owned 17,367 shares of the company’s stock, valued at approximately $6,413,285.76. The trade was a 23.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Fahim Siddiqui sold 2,600 shares of the company’s 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 sale, the executive vice president owned 7,951 shares of the company’s stock, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

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.