Corundum Group Inc. Buys 169 Shares of The Home Depot, Inc. (NYSE:HD)

Corundum Group Inc. increased its stake in shares of The Home Depot, Inc. (NYSE:HD) by 3.3% in the 1st quarter, Holdings Channel reports. The firm owned 5,243 shares of the home improvement retailer’s stock after buying an additional 169 shares during the period. Home Depot accounts for approximately 1.0% of Corundum Group Inc.’s holdings, making the stock its 20th biggest position. Corundum Group Inc.’s holdings in Home Depot were worth $2,011,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Algert Global LLC purchased a new stake in shares of Home Depot in the 3rd quarter worth $245,000. Trexquant Investment LP lifted its position in shares of Home Depot by 300.3% during 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 in the last quarter. Van Lanschot Kempen Investment Management N.V. grew its stake in shares of Home Depot by 0.4% during the 3rd quarter. Van Lanschot Kempen Investment Management N.V. now owns 25,743 shares of the home improvement retailer’s stock valued at $7,779,000 after acquiring an additional 109 shares during the period. Morningstar Investment Services LLC increased its holdings in Home Depot by 36.6% in the 3rd quarter. Morningstar Investment Services LLC now owns 3,602 shares of the home improvement retailer’s stock worth $1,093,000 after acquiring an additional 966 shares in the last quarter. Finally, Nine27 Capital Management LP bought a new stake in Home Depot during the 3rd quarter worth approximately $6,043,000. Institutional investors own 70.86% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on HD. HSBC cut their target price on Home Depot from $323.00 to $318.00 and set a “reduce” rating for the company in a research report on Wednesday, May 15th. DA Davidson upgraded shares of Home Depot from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $352.00 to $395.00 in a research report on Wednesday. UBS Group dropped their target price on shares of Home Depot from $411.00 to $400.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Citigroup decreased their price target on shares of Home Depot from $415.00 to $395.00 and set a “buy” rating on the stock in a research note on Tuesday, May 7th. Finally, Truist Financial cut their price objective on Home Depot from $417.00 to $406.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus target price of $378.42.

Home Depot Stock Up 0.6 %

NYSE:HD traded up $1.94 during mid-day trading on Thursday, reaching $343.76. The company’s stock had a trading volume of 165,321 shares, compared to its average volume of 3,421,097. The company has a quick ratio of 0.42, a current ratio of 1.34 and a debt-to-equity ratio of 23.11. The firm has a market capitalization of $340.88 billion, a PE ratio of 22.94, a price-to-earnings-growth ratio of 2.34 and a beta of 1.00. The stock has a fifty day moving average of $337.98 and a 200-day moving average of $352.67. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $396.87.

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

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend was Thursday, May 30th. Home Depot’s dividend payout ratio (DPR) is currently 60.36%.

Insider Activity at Home Depot

In related news, EVP Matt Carey sold 56,008 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the completion of the transaction, the executive vice president now owns 33,325 shares in the company, valued at approximately $11,503,123.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.10% of the stock is owned by corporate insiders.

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.