RWQ Financial Management Services Inc. Makes New $21.19 Million Investment in The Home Depot, Inc. (NYSE:HD)

RWQ Financial Management Services Inc. acquired a new stake in shares of The Home Depot, Inc. (NYSE:HD) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 52,292 shares of the home improvement retailer’s stock, valued at approximately $21,189,000. Home Depot accounts for approximately 7.3% of RWQ Financial Management Services Inc.’s holdings, making the stock its 6th largest holding.

Several other institutional investors also recently made changes to their positions in the stock. International Assets Investment Management LLC raised its holdings in Home Depot by 51,250.1% in the third quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock valued at $35,575,880,000 after buying an additional 8,762,735 shares during the period. Legal & General Group Plc grew its stake in Home Depot by 1.2% during the second quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock worth $2,931,328,000 after buying an additional 100,139 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Home Depot by 15.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock worth $2,853,143,000 after acquiring an additional 971,833 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Home Depot by 2.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,774,083 shares of the home improvement retailer’s stock valued at $1,980,883,000 after acquiring an additional 138,396 shares during the period. Finally, Jennison Associates LLC lifted its holdings in shares of Home Depot by 13.1% during the 1st quarter. Jennison Associates LLC now owns 4,917,286 shares of the home improvement retailer’s stock valued at $1,886,271,000 after acquiring an additional 569,690 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on HD shares. Stifel Nicolaus cut their price objective on Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a research report on Wednesday, August 14th. Oppenheimer boosted their price target on Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 24th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $360.00 price objective on shares of Home Depot in a research report on Thursday, September 12th. Truist Financial boosted their target price on shares of Home Depot from $395.00 to $455.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Evercore ISI lowered their price target on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $413.48.

Home Depot Trading Down 0.3 %

NYSE:HD opened at $392.59 on Monday. The stock has a fifty day simple moving average of $392.51 and a 200 day simple moving average of $362.03. The firm has a market capitalization of $389.96 billion, a price-to-earnings ratio of 26.42, a price-to-earnings-growth ratio of 2.73 and a beta of 1.01. The Home Depot, Inc. has a 1-year low of $286.79 and a 1-year high of $421.56. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, topping the consensus estimate of $4.59 by $0.08. The company had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the company posted $4.65 earnings per share. Sell-side analysts forecast that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s payout ratio is 60.57%.

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.