Corundum Group Inc. Has $1.61 Million Stake in The Home Depot, Inc. (NYSE:HD)

Corundum Group Inc. trimmed its stake in The Home Depot, Inc. (NYSE:HD) by 27.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,976 shares of the home improvement retailer’s stock after selling 1,540 shares during the period. Home Depot comprises approximately 0.7% of Corundum Group Inc.’s investment portfolio, making the stock its 27th biggest position. Corundum Group Inc.’s holdings in Home Depot were worth $1,611,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of HD. Fairway Wealth LLC acquired a new stake in Home Depot during the 2nd quarter worth about $25,000. Kings Path Partners LLC bought a new position in shares of Home Depot during the 2nd quarter worth about $33,000. Denver PWM LLC bought a new position in shares of Home Depot during the 2nd quarter worth about $40,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Home Depot during the 2nd quarter worth about $47,000. Finally, Quarry LP boosted its position in shares of Home Depot by 36.0% during the 2nd quarter. Quarry LP now owns 136 shares of the home improvement retailer’s stock worth $47,000 after purchasing an additional 36 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Stock Down 0.1 %

Home Depot stock opened at $415.00 on Monday. The firm has a 50 day simple moving average of $385.10 and a 200 day simple moving average of $358.49. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74. The Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $421.56. The firm has a market capitalization of $411.52 billion, a price-to-earnings ratio of 27.83, a P/E/G ratio of 2.88 and a beta of 1.00.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating the consensus estimate of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The firm had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. During the same period last year, the firm earned $4.65 EPS. The business’s quarterly revenue was up .6% compared to the same quarter last year. On average, 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 announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were paid a $2.25 dividend. The ex-dividend date was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a yield of 2.17%. Home Depot’s dividend payout ratio is presently 60.36%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on HD. Evercore ISI cut their price objective on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. Guggenheim increased their price objective on shares of Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Melius Research began coverage on shares of Home Depot in a research report on Monday, September 23rd. They set a “buy” rating and a $420.00 price objective on the stock. UBS Group increased 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. Finally, Daiwa America raised shares of Home Depot to a “hold” rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $404.69.

Home Depot Company 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.