DORVAL Corp Purchases New Stake in The Home Depot, Inc. (NYSE:HD)

DORVAL Corp bought a new position in shares of The Home Depot, Inc. (NYSE:HD) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 761 shares of the home improvement retailer’s stock, valued at approximately $264,000. Home Depot accounts for 0.1% of DORVAL Corp’s investment portfolio, making the stock its 26th biggest position.

Several other hedge funds also recently bought and sold shares of HD. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in Home Depot in the 3rd quarter worth approximately $358,000. Signaturefd LLC grew its holdings in shares of Home Depot by 1.2% during the 3rd quarter. Signaturefd LLC now owns 48,854 shares of the home improvement retailer’s stock valued at $14,762,000 after purchasing an additional 599 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Home Depot by 1.0% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 19,894 shares of the home improvement retailer’s stock worth $6,011,000 after purchasing an additional 192 shares during the period. Syon Capital LLC purchased a new stake in Home Depot during the third quarter valued at about $1,070,000. Finally, Main Street Research LLC grew its stake in shares of Home Depot by 3,254.6% during the third quarter. Main Street Research LLC now owns 68,602 shares of the home improvement retailer’s stock valued at $20,729,000 after buying an additional 66,557 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Trading Down 1.1 %

HD traded down $3.70 during trading on Thursday, reaching $326.89. The company had a trading volume of 3,406,185 shares, compared to its average volume of 3,395,617. 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 Home Depot, Inc. has a 52 week low of $274.26 and a 52 week high of $396.87. The stock has a market cap of $323.95 billion, a P/E ratio of 21.91, a PEG ratio of 2.32 and a beta of 1.01. The business has a 50 day simple moving average of $352.48 and a 200-day simple moving average of $347.49.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 EPS for the quarter, topping analysts’ consensus estimates of $3.61 by $0.02. The firm had revenue of $36.42 billion during the quarter, compared to analysts’ expectations of $36.65 billion. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the previous year, the company earned $3.82 EPS. On average, equities analysts anticipate that The Home Depot, Inc. will post 15.31 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th will be paid a $2.25 dividend. The ex-dividend date of this dividend is Wednesday, May 29th. This represents a $9.00 dividend on an annualized basis and a yield of 2.75%. Home Depot’s dividend payout ratio is currently 60.36%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on HD shares. Stifel Nicolaus increased their target price on Home Depot from $355.00 to $366.00 and gave the company a “hold” rating in a report on Friday, February 16th. Truist Financial decreased their target price on shares of Home Depot from $417.00 to $406.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. TD Cowen cut their price target on shares of Home Depot from $440.00 to $420.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Guggenheim reaffirmed a “buy” rating and set a $390.00 price objective on shares of Home Depot in a research note on Friday, April 5th. Finally, Royal Bank of Canada raised their target price on Home Depot from $299.00 to $377.00 and gave the stock a “sector perform” rating in a research note on Monday, February 26th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus target price of $377.46.

Insider Activity at Home Depot

In other Home Depot news, EVP Matt Carey sold 56,008 shares of Home Depot stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $345.18, for a total value of $19,332,841.44. Following the transaction, the executive vice president now directly owns 33,325 shares of the company’s stock, valued at $11,503,123.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.10% of the stock is currently owned by corporate insiders.

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.