Granite Harbor Advisors Inc. Boosts Stock Position in The Home Depot, Inc. (NYSE:HD)

Granite Harbor Advisors Inc. lifted its holdings in The Home Depot, Inc. (NYSE:HD) by 3.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,948 shares of the home improvement retailer’s stock after purchasing an additional 149 shares during the quarter. Home Depot accounts for approximately 0.9% of Granite Harbor Advisors Inc.’s investment portfolio, making the stock its 25th largest position. Granite Harbor Advisors Inc.’s holdings in Home Depot were worth $1,600,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of HD. Quintet Private Bank Europe S.A. lifted its position in shares of Home Depot by 5.2% during the fourth quarter. Quintet Private Bank Europe S.A. now owns 61,296 shares of the home improvement retailer’s stock worth $21,242,000 after purchasing an additional 3,035 shares during the last quarter. Scarborough Advisors LLC lifted its position in shares of Home Depot by 4.3% during the fourth quarter. Scarborough Advisors LLC now owns 1,731 shares of the home improvement retailer’s stock worth $600,000 after purchasing an additional 71 shares during the last quarter. Pineridge Advisors LLC bought a new stake in shares of Home Depot during the fourth quarter worth $519,000. ARK & TLK Investments LLC bought a new stake in shares of Home Depot during the fourth quarter worth $225,000. Finally, Transcendent Capital Group LLC bought a new stake in shares of Home Depot in the fourth quarter valued at about $398,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Price Performance

Shares of Home Depot stock traded up $1.39 during mid-day trading on Monday, reaching $413.29. 257,191 shares of the stock traded hands, compared to its average volume of 3,373,658. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $420.03. The stock has a market capitalization of $409.82 billion, a PE ratio of 27.62, a PEG ratio of 2.88 and a beta of 1.00. The business has a 50-day moving average of $378.34 and a 200 day moving average of $356.92.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.59 by $0.08. The company had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.65 EPS. On average, analysts predict that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.18%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HD. Evercore ISI decreased their price objective on Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Stifel Nicolaus decreased their price objective on Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a report on Wednesday, August 14th. Gordon Haskett upgraded Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price on the stock in a research note on Wednesday, October 2nd. Piper Sandler lifted their target price on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Finally, Melius Research began coverage on Home Depot in a research note on Monday, September 23rd. They issued a “buy” rating and a $420.00 target price on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $404.69.

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.