Pinion Investment Advisors LLC Reduces Stock Position in The Home Depot, Inc. (NYSE:HD)

Pinion Investment Advisors LLC cut its stake in shares of The Home Depot, Inc. (NYSE:HD) by 1.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,715 shares of the home improvement retailer’s stock after selling 35 shares during the quarter. Pinion Investment Advisors LLC’s holdings in Home Depot were worth $1,056,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of HD. Synergy Asset Management LLC bought a new position in Home Depot in the fourth quarter worth approximately $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Home Depot in the 4th quarter worth $28,000. Bradley & Co. Private Wealth Management LLC bought a new position in Home Depot in the 4th quarter worth $32,000. Legacy Investment Solutions LLC purchased a new position in Home Depot during the third quarter valued at $41,000. Finally, Sugar Maple Asset Management LLC bought a new stake in Home Depot during the fourth quarter valued at about $41,000. 70.86% of the stock is owned by institutional investors.

Home Depot Trading Down 1.9 %

NYSE:HD opened at $389.03 on Tuesday. The company has a market capitalization of $386.45 billion, a P/E ratio of 26.43, a PEG ratio of 4.03 and a beta of 1.05. 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 firm has a fifty day simple moving average of $401.29 and a 200-day simple moving average of $399.57. 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 released its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. The firm had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.82 earnings per share. On average, equities research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a $2.30 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.36%. Home Depot’s payout ratio is 61.66%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Mizuho raised their price objective on Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Barclays raised their target price on shares of Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Telsey Advisory Group reissued an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Truist Financial lowered 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 note on Wednesday, February 26th. Finally, Wells Fargo & Company increased their price target on Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Nine equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $436.50.

Home Depot 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.