The Home Depot, Inc. (NYSE:HD) Position Cut by Truepoint Inc.

Truepoint Inc. lowered its position in shares of The Home Depot, Inc. (NYSE:HD) by 1.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,868 shares of the home improvement retailer’s stock after selling 37 shares during the period. Truepoint Inc.’s holdings in Home Depot were worth $727,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of HD. Independent Solutions Wealth Management LLC boosted its position in shares of Home Depot by 0.5% during the fourth quarter. Independent Solutions Wealth Management LLC now owns 8,696 shares of the home improvement retailer’s stock worth $3,382,000 after buying an additional 44 shares during the period. Kiker Wealth Management LLC bought a new stake in Home Depot during the 4th quarter valued at $535,000. Antonelli Financial Advisors LLC acquired a new position in Home Depot during the 4th quarter worth $301,000. Ballast Advisors LLC grew its stake in shares of Home Depot by 8.8% in the fourth quarter. Ballast Advisors LLC now owns 2,065 shares of the home improvement retailer’s stock worth $803,000 after purchasing an additional 167 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Home Depot by 2.6% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 41,097 shares of the home improvement retailer’s stock valued at $15,986,000 after purchasing an additional 1,028 shares during the period. Institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

HD opened at $355.31 on Friday. The firm has a market capitalization of $352.95 billion, a P/E ratio of 24.14, a PEG ratio of 4.03 and a beta of 1.09. The stock has a fifty day moving average of $394.73 and a 200-day moving average of $398.78. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. During the same period in the prior year, the business earned $2.82 EPS. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. Equities analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a dividend of $2.30 per share. The ex-dividend date is Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a yield of 2.59%. Home Depot’s payout ratio is presently 61.66%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on HD shares. Piper Sandler reduced their price objective on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and increased their price objective for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. Truist Financial dropped their target price on Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Wedbush restated an “outperform” rating and issued a $440.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. lifted their price target on Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Nine investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Company Profile

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.