Gibraltar Capital Management Inc. Purchases 700 Shares of The Home Depot, Inc. (NYSE:HD)

Gibraltar Capital Management Inc. boosted its position in shares of The Home Depot, Inc. (NYSE:HD) by 30.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,028 shares of the home improvement retailer’s stock after purchasing an additional 700 shares during the period. Home Depot comprises 0.6% of Gibraltar Capital Management Inc.’s holdings, making the stock its 29th biggest holding. Gibraltar Capital Management Inc.’s holdings in Home Depot were worth $1,227,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its holdings in Home Depot by 51,250.1% during the 3rd quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock worth $35,575,880,000 after purchasing an additional 8,762,735 shares during the period. Legal & General Group Plc increased its holdings in Home Depot by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock worth $2,931,328,000 after purchasing an additional 100,139 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Home Depot by 15.0% during the 1st 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 purchasing an additional 971,833 shares during the period. Ameriprise Financial Inc. increased its holdings in Home Depot by 2.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,774,083 shares of the home improvement retailer’s stock worth $1,980,883,000 after purchasing an additional 138,396 shares during the period. Finally, Jennison Associates LLC increased its holdings in 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 worth $1,886,271,000 after purchasing an additional 569,690 shares during the period. 70.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on HD. Morgan Stanley raised their price objective on Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. TD Cowen increased their target price on Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research report on Monday. Melius Research initiated coverage on Home Depot in a research report on Monday, September 23rd. They set a “buy” rating and a $420.00 target price on the stock. Piper Sandler increased their target price on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Finally, Stifel Nicolaus dropped their target price 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and an average price target of $413.48.

Home Depot Stock Performance

Shares of HD opened at $395.10 on Wednesday. The stock has a 50-day moving average of $391.17 and a two-hundred day moving average of $360.80. The Home Depot, Inc. has a one year low of $276.96 and a one year high of $421.56. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The stock has a market cap of $391.79 billion, a P/E ratio of 26.50, a P/E/G ratio of 2.78 and a beta of 1.00.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The company had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. During the same quarter in the previous year, the firm posted $4.65 EPS. The firm’s revenue was up .6% compared to the same quarter last year. As a group, research analysts predict that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders 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 dividend on an annualized basis and a dividend yield of 2.28%. Home Depot’s payout ratio is currently 60.36%.

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.