QRG Capital Management Inc. Purchases 5,619 Shares of The Home Depot, Inc. (NYSE:HD)

QRG Capital Management Inc. raised its position in The Home Depot, Inc. (NYSE:HD) by 4.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 135,815 shares of the home improvement retailer’s stock after acquiring an additional 5,619 shares during the quarter. QRG Capital Management Inc.’s holdings in Home Depot were worth $55,032,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Abacus Wealth Partners LLC increased its stake in shares of Home Depot by 3.7% during the third quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock worth $285,000 after purchasing an additional 25 shares during the period. Redhawk Wealth Advisors Inc. boosted its holdings in shares of Home Depot by 0.7% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock valued at $1,469,000 after purchasing an additional 25 shares in the last quarter. Ruedi Wealth Management Inc. boosted its holdings in shares of Home Depot by 1.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock valued at $817,000 after acquiring an additional 27 shares in the last quarter. Acorn Creek Capital LLC boosted its holdings in shares of Home Depot by 3.4% during the 2nd quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock valued at $291,000 after acquiring an additional 28 shares in the last quarter. Finally, Consolidated Portfolio Review Corp raised its position in Home Depot by 1.9% during the 3rd quarter. Consolidated Portfolio Review Corp now owns 1,524 shares of the home improvement retailer’s stock worth $617,000 after purchasing an additional 28 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

Shares of HD stock opened at $395.57 on Tuesday. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. The firm’s 50-day moving average is $392.94 and its two-hundred day moving average is $362.47. The Home Depot, Inc. has a 12 month low of $286.79 and a 12 month high of $421.56. The company has a market capitalization of $392.92 billion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 2.73 and a beta of 1.01.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. The business had revenue of $43.18 billion for the quarter, compared to the consensus estimate of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The business’s revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm earned $4.65 EPS. Analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is presently 60.57%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on HD shares. JPMorgan Chase & Co. lifted their price objective on Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Piper Sandler upped their target price on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Gordon Haskett raised Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price for the company in a report on Wednesday, October 2nd. Sanford C. Bernstein began coverage on Home Depot in a report on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 price objective for the company. Finally, TD Cowen increased their price objective on Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $413.48.

About Home Depot

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.