Clune & Associates LTD. Makes New Investment in The Home Depot, Inc. (NYSE:HD)

Clune & Associates LTD. bought a new stake in The Home Depot, Inc. (NYSE:HD) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 569 shares of the home improvement retailer’s stock, valued at approximately $221,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Synergy Asset Management LLC purchased a new position in shares of Home Depot in the 4th quarter valued at about $26,000. Wingate Wealth Advisors Inc. acquired a new position in Home Depot during the fourth quarter worth about $28,000. Bradley & Co. Private Wealth Management LLC purchased a new position in Home Depot in the fourth quarter valued at about $32,000. NewSquare Capital LLC lifted its position in shares of Home Depot by 200.0% during the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after acquiring an additional 68 shares during the period. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of Home Depot in the 3rd quarter worth approximately $41,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Stock Up 3.7 %

HD stock opened at $363.97 on Tuesday. The company has a market capitalization of $361.55 billion, a P/E ratio of 24.73, a PEG ratio of 4.03 and a beta of 1.09. The firm has a 50 day simple moving average of $393.46 and a 200-day simple moving average of $399.16. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37.

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

Home Depot Increases Dividend

The company also recently declared 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. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s dividend payout ratio is currently 61.66%.

Analyst Upgrades and Downgrades

HD has been the subject of several research reports. Guggenheim reaffirmed a “buy” rating and set a $450.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Truist Financial decreased their target price on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Wells Fargo & Company upped their target price on Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. KGI Securities raised Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Nine investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $435.85.

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.