Corundum Group Inc. Grows Position in The Home Depot, Inc. (NYSE:HD)

Corundum Group Inc. grew its stake in The Home Depot, Inc. (NYSE:HD) by 32.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,286 shares of the home improvement retailer’s stock after buying an additional 1,310 shares during the period. Corundum Group Inc.’s holdings in Home Depot were worth $2,056,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in HD. Texas Capital Bank Wealth Management Services Inc raised its holdings in shares of Home Depot by 27.6% during the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock worth $9,348,000 after purchasing an additional 5,879 shares during the last quarter. Pegasus Asset Management Inc. grew its position in Home Depot by 1.8% during the 3rd quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock worth $2,024,000 after purchasing an additional 86 shares during the period. Pensionfund Sabic raised its stake in shares of Home Depot by 51.4% during the 4th quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock valued at $4,357,000 after buying an additional 3,800 shares during the last quarter. Swedbank AB lifted its holdings in shares of Home Depot by 17.1% in the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after buying an additional 132,967 shares during the period. Finally, Wedmont Private Capital boosted its stake in shares of Home Depot by 12.5% in the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock worth $5,291,000 after buying an additional 1,506 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Home Depot news, EVP Timothy A. Hourigan sold 16,004 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the transaction, the executive vice president now directly owns 77,475 shares in the company, valued at $31,727,562. This represents a 17.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ann Marie Campbell sold 100 shares of Home Depot stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total value of $40,258.00. Following the completion of the sale, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at $5,018,159.70. The trade was a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,188 shares of company stock valued at $15,624,585 over the last 90 days. 0.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Morgan Stanley lifted their price target on Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Barclays boosted their target price on shares of Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Telsey Advisory Group upgraded shares of Home Depot from a “market perform” rating to an “outperform” rating and raised their price target for the company from $360.00 to $455.00 in a research report on Friday, November 8th. Gordon Haskett upgraded shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective for the company in a research report on Wednesday, October 2nd. Finally, Truist Financial raised their target price on Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Stock Up 2.3 %

Shares of NYSE HD opened at $418.65 on Wednesday. The company has a market capitalization of $415.87 billion, a P/E ratio of 28.44, a P/E/G ratio of 4.31 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The company has a 50 day simple moving average of $406.53 and a 200-day simple moving average of $388.73. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same quarter last year, the firm earned $3.81 earnings per share. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, equities research analysts predict that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were given a $2.25 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a yield of 2.15%. Home Depot’s payout ratio is currently 61.14%.

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.