PKS Advisory Services LLC Acquires New Stake in The Home Depot, Inc. (NYSE:HD)

PKS Advisory Services LLC bought a new position in The Home Depot, Inc. (NYSE:HD) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,274 shares of the home improvement retailer’s stock, valued at approximately $885,000.

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

Wall Street Analyst Weigh In

Several analysts have weighed in on HD shares. KGI Securities raised shares of Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Piper Sandler dropped their price objective on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a report on Monday. Royal Bank of Canada reduced their target price on Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Telsey Advisory Group reiterated an “outperform” rating and set a $455.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Finally, Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Nine investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and an average target price of $435.85.

Home Depot Trading Up 3.7 %

Shares of HD opened at $363.97 on Tuesday. The firm’s fifty day moving average is $393.46 and its two-hundred day moving average is $399.16. The stock has a market cap of $361.55 billion, a PE ratio of 24.73, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. 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 52-week low of $323.77 and a 52-week high of $439.37.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. The company had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.82 EPS. Research analysts forecast 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. Stockholders of record on Thursday, March 13th will be given a dividend of $2.30 per share. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. This represents a $9.20 annualized dividend and a dividend yield of 2.53%. Home Depot’s payout ratio is presently 61.66%.

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.