5 Construction Stocks Billionaires Are Loading Up On

4. The Home Depot, Inc. (NYSE:HD)

Number of Billionaire Investors: 12

Dollar Value of Billionaire Holdings: $709,345,601

Number of Hedge Fund Holders: 65

The Home Depot, Inc. (NYSE:HD) is an Atlanta, Georgia-based home improvement retailer founded in 1978. The company operates a chain of stores selling a wide range of home improvement and construction products.

The Home Depot, Inc. (NYSE:HD) is the biggest home improvement retailer in the world and has been paying dividends for more than 35 years. In a research report issued on May 19, Brian Nagel at Oppenheimer highlighted that the recent selloff had provided an attractive entry point for potential investors. The analyst assigned The Home Depot, Inc. (NYSE:HD) stock a target price of $350 along with an Outperform rating.

Madison Investments made the following comments on The Home Depot, Inc. (NYSE:HD) in its Q1 2023 investor letter:

“The Home Depot, Inc. (NYSE:HD) provided an update on reducing the environmental impact of its stores. Since 2010, the company has reduced U.S. store electricity use by 50% by implementing LED lighting across all of its stores, buying electricity from large-scale commercial solar farms, and installing rooftop solar farms. The company is now applying its experience to other parts of its operations, including reducing electricity use in its supply chain and water use in store irrigation. Home Depot was also recognized by the U.S. Environmental Protection Agency for being one of the nation’s largest green power users.”