Tudor Financial Inc. Takes a Position in Home Depot (NYSE:HD)

December 12, 2024 09:00 AM PST | By Team Kalkine Media

Google News:

Tudor Financial Inc. Takes a Position in Home Depot (NYSE:HD) — Image source: shutterstock

Recent News

Is NYSE Composite’s Carvana (NYSE:CVNA) Under Focus Following Major Sh...

Why Did Matson (NYSE:MATX) Announce A Dividend Update?

Has Dolby Laboratories (NYSE:DLB) Drawn Market Focus On The S&P 500 In...

Is Snowflake (NYSE:SNOW) Shifting Activity On The NYSE and S&P 500?

Highlights

Tudor Financial Inc. purchases stake in Home Depot.

Home Depot reports stronger-than-expected quarterly earnings.

Institutional investors show strong interest in Home Depot stock.

Tudor Financial Inc. has recently purchased a new stake in Home Depot Inc, highlighting the growing interest in the home improvement sector. This acquisition comes as Home Depot continues to report strong earnings and maintain solid institutional support. The company's robust performance positions it as a prominent player in the NYSE Consumer Stocks space.

Tudor Financial Inc. Acquires New Stake in Home Depot (NYSE:HD)

Tudor Financial Inc. has recently added Home Depot, Inc. to its portfolio by purchasing 2,535 shares during the third quarter. The acquisition, valued at approximately $1,027,000, indicates growing institutional confidence in the home improvement giant. This move comes as Home Depot remains a favored stock among hedge funds and institutional investors, with several firms adjusting their positions in the retailer.

Home Depot's Strong Performance in Recent Earnings

Home Depot posted impressive earnings results for the quarter ended November 12. The company reported $3.78 in earnings per share (EPS), surpassing analysts’ expectations of $3.64 by $0.14. With a 6.6% increase in year-over-year revenue, the home improvement retailer’s strong performance reflects its ability to navigate a competitive and fluctuating market. The company’s revenue reached $40.22 billion for the quarter, exceeding the consensus estimate of $39.31 billion. Home Depot's remarkable net margin of 9.45% and a return on equity of 452.60% further underscore its operational efficiency and financial health.

Dividend Announcement and Institutional Ownership

Along with the solid earnings report, Home Depot also announced a quarterly dividend of $2.25 per share, payable on December 12. The ex-dividend date was set for November 27, representing an annual dividend yield of 2.14%. Approximately 70.86% of Home Depot’s shares are owned by institutional investors, indicating widespread confidence in the company’s performance and growth potential. This institutional backing, combined with the strong financial results, positions Home Depot as a key player in the home improvement sector.

The Home Depot, Inc. operates as a leading home improvement retailer across the United States and internationally. The company provides a wide array of products, including building materials, home improvement products, lawn and garden supplies, and décor items. It also offers installation services for various home improvement projects such as flooring, water heaters, and windows. With a market capitalization exceeding $418 billion, Home Depot remains a dominant force in the retail sector.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media LLC (Kalkine Media, we or us) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.