Factory Mutual Insurance Co. Has $35.83 Million Position in The Home Depot, Inc. (NYSE:HD)

Factory Mutual Insurance Co. cut its stake in shares of The Home Depot, Inc. (NYSE:HD) by 3.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 93,400 shares of the home improvement retailer’s stock after selling 2,900 shares during the quarter. Factory Mutual Insurance Co.’s holdings in Home Depot were worth $35,828,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in HD. Algert Global LLC acquired a new stake in Home Depot in the 3rd quarter valued at about $245,000. Mather Group LLC. increased its holdings in shares of Home Depot by 39.1% in the third quarter. Mather Group LLC. now owns 13,219 shares of the home improvement retailer’s stock valued at $3,994,000 after purchasing an additional 3,717 shares in the last quarter. Vinva Investment Management Ltd raised its position in Home Depot by 33.2% in the 3rd quarter. Vinva Investment Management Ltd now owns 14,029 shares of the home improvement retailer’s stock worth $4,258,000 after purchasing an additional 3,497 shares during the last quarter. Valley National Advisers Inc. lifted its holdings in Home Depot by 7.5% during the 3rd quarter. Valley National Advisers Inc. now owns 1,134 shares of the home improvement retailer’s stock worth $343,000 after buying an additional 79 shares in the last quarter. Finally, Trexquant Investment LP boosted its position in Home Depot by 300.3% in the 3rd quarter. Trexquant Investment LP now owns 8,371 shares of the home improvement retailer’s stock valued at $2,529,000 after buying an additional 6,280 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on HD. Zelman & Associates upgraded shares of Home Depot from a “neutral” rating to an “outperform” rating in a report on Tuesday, April 2nd. Wells Fargo & Company reduced their price target on Home Depot from $425.00 to $400.00 and set an “overweight” rating on the stock in a research report on Thursday, May 9th. Truist Financial dropped their price objective on Home Depot from $417.00 to $406.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Citigroup reduced their target price on Home Depot from $415.00 to $395.00 and set a “buy” rating on the stock in a report on Tuesday, May 7th. Finally, StockNews.com lowered Home Depot from a “buy” rating to a “hold” rating in a research report on Saturday, May 25th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and an average price target of $377.46.

Home Depot Stock Performance

Home Depot stock traded down $14.26 during trading hours on Tuesday, hitting $336.62. The company had a trading volume of 2,588,908 shares, compared to its average volume of 3,428,701. The firm has a 50-day moving average of $337.91 and a 200 day moving average of $352.58. The company has a debt-to-equity ratio of 23.11, a current ratio of 1.34 and a quick ratio of 0.42. The firm has a market cap of $333.80 billion, a PE ratio of 22.72, a PEG ratio of 2.46 and a beta of 1.00. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $396.87.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, May 14th. The home improvement retailer reported $3.63 EPS for the quarter, beating analysts’ consensus estimates of $3.61 by $0.02. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The firm had revenue of $36.42 billion for the quarter, compared to analyst estimates of $36.65 billion. During the same period in the prior year, the firm posted $3.82 EPS. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. On average, sell-side analysts expect that The Home Depot, Inc. will post 15.28 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend was Thursday, May 30th. Home Depot’s dividend payout ratio is currently 60.36%.

Insiders Place Their Bets

In related news, EVP Matt Carey sold 56,008 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $345.18, for a total value of $19,332,841.44. Following the completion of the transaction, the executive vice president now owns 33,325 shares of the company’s stock, valued at $11,503,123.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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.