Home Depot Inc (NYSE:HD) is Neuberger Berman Group LLC’s 8th Largest Position

Neuberger Berman Group LLC lowered its stake in Home Depot Inc (NYSE:HD) by 2.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,846,318 shares of the home improvement retailer’s stock after selling 86,060 shares during the period. Home Depot makes up approximately 0.9% of Neuberger Berman Group LLC’s investment portfolio, making the stock its 8th biggest position. Neuberger Berman Group LLC owned 0.26% of Home Depot worth $712,900,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Armbruster Capital Management Inc. lifted its position in Home Depot by 6.6% during the second quarter. Armbruster Capital Management Inc. now owns 1,386 shares of the home improvement retailer’s stock valued at $347,000 after purchasing an additional 86 shares during the period. Bruderman Asset Management LLC raised its position in shares of Home Depot by 8.5% in the second quarter. Bruderman Asset Management LLC now owns 28,186 shares of the home improvement retailer’s stock worth $6,994,000 after acquiring an additional 2,206 shares during the period. Cornerstone Wealth Management LLC raised its position in shares of Home Depot by 10.2% during the 1st quarter. Cornerstone Wealth Management LLC now owns 3,099 shares of the home improvement retailer’s stock worth $579,000 after purchasing an additional 286 shares during the last quarter. Grove Bank & Trust raised its position in shares of Home Depot by 1.5% during the 2nd quarter. Grove Bank & Trust now owns 7,798 shares of the home improvement retailer’s stock worth $1,953,000 after purchasing an additional 113 shares during the last quarter. Finally, WESPAC Advisors SoCal LLC raised its position in shares of Home Depot by 3.2% during the 2nd quarter. WESPAC Advisors SoCal LLC now owns 32,755 shares of the home improvement retailer’s stock worth $8,192,000 after purchasing an additional 1,027 shares during the last quarter. 69.00% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:HD traded up $4.35 during midday trading on Tuesday, hitting $285.00. The stock had a trading volume of 254,463 shares, compared to its average volume of 5,211,763. The company has a market capitalization of $302.11 billion, a PE ratio of 26.15, a P/E/G ratio of 2.09 and a beta of 1.09. The stock has a 50 day moving average price of $276.39 and a two-hundred day moving average price of $238.98. Home Depot Inc has a 1 year low of $140.63 and a 1 year high of $292.95.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, August 18th. The home improvement retailer reported $4.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.20 by $0.82. The business had revenue of $38.05 billion for the quarter, compared to the consensus estimate of $32.13 billion. Home Depot had a net margin of 9.91% and a negative return on equity of 583.91%. The business’s quarterly revenue was up 23.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.17 earnings per share. Equities analysts forecast that Home Depot Inc will post 11.3 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Thursday, September 3rd will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Wednesday, September 2nd. Home Depot’s payout ratio is 58.54%.

In related news, EVP Teresa Wynn Roseborough sold 41,947 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $279.83, for a total value of $11,738,029.01. Also, EVP William G. Lennie sold 13,199 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $283.22, for a total transaction of $3,738,220.78. Following the completion of the sale, the executive vice president now owns 49,736 shares of the company’s stock, valued at approximately $14,086,229.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 105,624 shares of company stock worth $29,429,883. Insiders own 0.26% of the company’s stock.

Several research firms recently weighed in on HD. Wells Fargo & Company upped their price target on shares of Home Depot from $295.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. They noted that the move was a valuation call. Nomura Instinet upped their price target on shares of Home Depot from $252.00 to $266.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Telsey Advisory Group increased their price target on shares of Home Depot from $290.00 to $300.00 and gave the company a “market perform” rating in a research note on Wednesday, August 19th. BofA Securities raised shares of Home Depot from a “neutral” rating to a “buy” rating and increased their price target for the company from $290.00 to $330.00 in a research note on Wednesday, August 19th. Finally, DA Davidson started coverage on shares of Home Depot in a research note on Friday, August 14th. They issued a “neutral” rating and a $290.00 price target for the company. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the stock. Home Depot has a consensus rating of “Buy” and a consensus target price of $286.88.

About Home Depot

The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and d├ęcor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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