The Home Depot, Inc. (NYSE:HD) Holdings Lifted by Prospector Partners LLC

Prospector Partners LLC raised its holdings in The Home Depot, Inc. (NYSE:HD) by 0.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 32,586 shares of the home improvement retailer’s stock after acquiring an additional 87 shares during the period. Prospector Partners LLC’s holdings in Home Depot were worth $12,676,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in HD. POM Investment Strategies LLC raised its stake in Home Depot by 1.1% during the fourth quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer’s stock worth $824,000 after acquiring an additional 24 shares in the last quarter. Center for Financial Planning Inc. increased its position in Home Depot by 0.5% during the 4th quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer’s stock worth $1,810,000 after purchasing an additional 24 shares in the last quarter. Insight Inv LLC lifted its stake in Home Depot by 2.0% in the 3rd quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer’s stock valued at $505,000 after purchasing an additional 25 shares during the last quarter. Marino Stram & Associates LLC boosted its position in Home Depot by 2.3% in the fourth quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer’s stock valued at $431,000 after buying an additional 25 shares in the last quarter. Finally, Live Oak Private Wealth LLC boosted its position in Home Depot by 0.5% in the fourth quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer’s stock valued at $1,912,000 after buying an additional 25 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Down 0.6 %

HD stock opened at $353.78 on Friday. The firm has a market capitalization of $351.67 billion, a PE ratio of 24.03, a P/E/G ratio of 4.03 and a beta of 1.08. 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 twelve month low of $323.77 and a twelve month high of $439.37. The stock’s 50 day moving average is $384.89 and its 200-day moving average is $398.25.

Home Depot (NYSE:HD) last posted its earnings results 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 net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. During the same quarter in the prior year, the business posted $2.82 EPS. The business’s revenue was up 14.1% compared to the same quarter last year. Sell-side analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a $2.30 dividend. The ex-dividend date of this dividend was Thursday, March 13th. 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 2.60%. Home Depot’s dividend payout ratio is currently 61.66%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HD. Wells Fargo & Company increased their price target on Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Robert W. Baird cut their price target on Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Piper Sandler lowered their price objective on Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. Guggenheim reissued a “buy” rating and set a $450.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $455.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $435.85.

About Home Depot

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.