Bridges Investment Management Inc. Sells 2,821 Shares of The Home Depot, Inc. (NYSE:HD)

Bridges Investment Management Inc. reduced its position in shares of The Home Depot, Inc. (NYSE:HD) by 2.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 115,090 shares of the home improvement retailer’s stock after selling 2,821 shares during the period. Bridges Investment Management Inc.’s holdings in Home Depot were worth $46,634,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of HD. Fairway Wealth LLC bought a new stake in shares of Home Depot during the second quarter worth $25,000. Kings Path Partners LLC acquired a new stake in Home Depot during the 2nd quarter worth $33,000. Livelsberger Financial Advisory bought a new position in shares of Home Depot during the 3rd quarter valued at about $46,000. Denver PWM LLC bought a new stake in shares of Home Depot during the second quarter worth $40,000. Finally, Abich Financial Wealth Management LLC raised its stake in shares of Home Depot by 68.0% in the 1st quarter. Abich Financial Wealth Management LLC now owns 126 shares of the home improvement retailer’s stock valued at $48,000 after purchasing an additional 51 shares during the period. Institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Truist Financial boosted their price target on shares of Home Depot from $455.00 to $459.00 and gave the stock a “buy” rating in a research report on Thursday. Gordon Haskett upgraded Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective for the company in a report on Wednesday, October 2nd. Morgan Stanley upped their target price on Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Finally, Melius Research initiated coverage on Home Depot in a research note on Monday, September 23rd. They issued a “buy” rating and a $420.00 price target for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus price target of $420.04.

Home Depot Stock Performance

NYSE HD opened at $405.90 on Friday. The firm has a 50-day moving average price of $395.19 and a two-hundred day moving average price of $363.84. The Home Depot, Inc. has a 12-month low of $286.79 and a 12-month high of $421.56. The company has a market capitalization of $403.18 billion, a P/E ratio of 27.31, a P/E/G ratio of 2.69 and a beta of 1.01. 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 issued its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.59 by $0.08. Home Depot had a return on equity of 733.61% and a net margin of 9.71%. The business had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. During the same period in the previous year, the company posted $4.65 earnings per share. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. Analysts anticipate that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date was Thursday, August 29th. Home Depot’s payout ratio is currently 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.