Envestnet Asset Management Inc. Reduces Stock Position in The Home Depot, Inc. (NYSE:HD)

Envestnet Asset Management Inc. trimmed its position in The Home Depot, Inc. (NYSE:HD) by 2.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,515,241 shares of the home improvement retailer’s stock after selling 74,499 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Home Depot were worth $865,846,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Frank Rimerman Advisors LLC acquired a new stake in Home Depot during the 4th quarter worth about $27,000. Kings Path Partners LLC purchased a new stake in shares of Home Depot in the second quarter worth about $33,000. A.P. Gilfoyle & Co. L.P. acquired a new stake in Home Depot during the first quarter worth about $38,000. Burkett Financial Services LLC purchased a new position in Home Depot during the fourth quarter valued at approximately $38,000. Finally, Livelsberger Financial Advisory acquired a new position in Home Depot in the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Trading Up 1.5 %

HD opened at $379.99 on Friday. The business has a fifty day moving average price of $361.04 and a 200 day moving average price of $354.23. 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 Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $396.87. The stock has a market capitalization of $377.44 billion, a price-to-earnings ratio of 25.49, a PEG ratio of 2.57 and a beta of 1.00.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share 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 analyst estimates of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The company’s revenue was up .6% on a year-over-year basis. During the same period last year, the business earned $4.65 EPS. Sell-side analysts expect that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were paid a dividend of $2.25 per share. The ex-dividend date was Thursday, August 29th. This represents a $9.00 annualized dividend and a yield of 2.37%. Home Depot’s dividend payout ratio is currently 60.36%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Loop Capital dropped their price objective on shares of Home Depot from $360.00 to $330.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. JPMorgan Chase & Co. raised their price target on shares of Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. UBS Group upped their price objective on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Truist Financial lowered their price target on Home Depot from $396.00 to $395.00 and set a “buy” rating on the stock in a research report on Wednesday, August 14th. Finally, Stifel Nicolaus reduced their target price on Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and an average price target of $387.79.

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.