The Home Depot (HD) Reduces the Environmental Impact of its Stores

Madison Investments, an investment advisor, released its “Madison Sustainable Equity Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund’s performance lagged behind the S&P 500 Index, which returned 7.5% in the quarter, with a very narrow market. Both Sector Allocation and Stock Selection affected the performance of the fund in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Madison Sustainable Equity Fund highlighted stocks like The Home Depot, Inc. (NYSE:HD) in the first quarter 2023 investor letter. Headquartered in Atlanta, Georgia, The Home Depot, Inc. (NYSE:HD) is a home improvement retailer. On April 20, 2023, The Home Depot, Inc. (NYSE:HD) stock closed at $298.57 per share. One-month return of The Home Depot, Inc. (NYSE:HD) was 5.49%, and its shares lost 0.51% of their value over the last 52 weeks. The Home Depot, Inc. (NYSE:HD) has a market capitalization of $302.353 billion.

Madison Sustainable Equity Fund made the following comment about 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.”

home, canada, tools, store, renovations, panels, customers, reno, wood, renew, garden, design, house, home depot, repair, aisle, buyers, interiors, american, lights,

ValeStock / Shutterstock.com

The Home Depot, Inc. (NYSE:HD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 62 hedge fund portfolios held The Home Depot, Inc. (NYSE:HD) at the end of the fourth quarter which was 89 in the previous quarter.

We discussed The Home Depot, Inc. (NYSE:HD) in another article and shared the best passive income stocks to buy. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.

Suggested Articles:

Disclosure: None. This article is originally published at Insider Monkey.