Hanlon Investment Management Inc. Raises Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Hanlon Investment Management Inc. grew its stake in The Home Depot, Inc. (NYSE:HD) by 24.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,006 shares of the home improvement retailer’s stock after buying an additional 200 shares during the period. Hanlon Investment Management Inc.’s holdings in Home Depot were worth $408,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in HD. Fairway Wealth LLC purchased a new stake in shares of Home Depot during the second quarter worth about $25,000. Kings Path Partners LLC purchased a new stake in shares of Home Depot during the second quarter worth about $33,000. Denver PWM LLC purchased a new stake in shares of Home Depot during the second quarter worth about $40,000. Livelsberger Financial Advisory purchased a new stake in shares of Home Depot during the third quarter worth about $46,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in Home Depot during the second quarter valued at approximately $47,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Trading Up 1.2 %

Shares of NYSE:HD opened at $400.21 on Wednesday. The Home Depot, Inc. has a 12-month low of $286.79 and a 12-month high of $421.56. The business’s fifty day simple moving average is $393.49 and its 200-day simple moving average is $362.92. The company has a market capitalization of $397.53 billion, a PE ratio of 26.93, a P/E/G ratio of 2.72 and a beta of 1.01. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74.

Home Depot (NYSE:HD) last announced 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. Home Depot had a return on equity of 733.61% and a net margin of 9.71%. The business had revenue of $43.18 billion for the quarter, compared to the consensus estimate of $42.57 billion. During the same period last year, the business posted $4.65 EPS. The business’s revenue was up .6% compared to the same quarter last year. As a group, equities research analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were given a $2.25 dividend. The ex-dividend date was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.25%. Home Depot’s payout ratio is 60.57%.

Analyst Ratings Changes

HD has been the subject of a number of research reports. Truist Financial increased their price target on Home Depot from $395.00 to $455.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Melius Research initiated coverage on Home Depot in a research note on Monday, September 23rd. They set a “buy” rating and a $420.00 price target for the company. Evercore ISI dropped their price target on Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. Loop Capital raised Home Depot from a “hold” rating to a “buy” rating and increased their price target for the company from $360.00 to $460.00 in a research note on Wednesday, October 9th. Finally, Barclays increased their price target on Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $415.26.

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.