Novus Advisors LLC Buys Shares of 4,834 The Home Depot, Inc. (NYSE:HD)

Novus Advisors LLC purchased a new stake in The Home Depot, Inc. (NYSE:HD) during the fourth quarter, Holdings Channel reports. The firm purchased 4,834 shares of the home improvement retailer’s stock, valued at approximately $1,880,000. Home Depot makes up approximately 1.9% of Novus Advisors LLC’s portfolio, making the stock its 17th biggest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. SYM FINANCIAL Corp raised its position in Home Depot by 17.8% during the third quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock valued at $777,000 after acquiring an additional 289 shares in the last quarter. Wealth Group Ltd. purchased a new stake in shares of Home Depot during the third quarter worth approximately $217,000. Swedbank AB boosted its position in Home Depot by 17.1% during the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after acquiring an additional 132,967 shares during the last quarter. Maia Wealth LLC acquired a new position in Home Depot during the third quarter worth about $1,210,000. Finally, Concurrent Investment Advisors LLC grew its stake in Home Depot by 2.3% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 52,175 shares of the home improvement retailer’s stock valued at $21,141,000 after acquiring an additional 1,173 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Trading Down 1.3 %

NYSE HD opened at $381.48 on Friday. The stock has a market capitalization of $378.95 billion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The firm has a 50 day moving average of $400.54 and a two-hundred day moving average of $399.49. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating the consensus estimate 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 return on equity of 452.60% and a net margin of 9.45%. Home Depot’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.82 earnings per share. As a group, research 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 will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid 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 yield of 2.41%. Home Depot’s payout ratio is presently 61.66%.

Analyst Ratings Changes

Several brokerages have recently weighed in on HD. Wells Fargo & Company boosted their target price on Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Mizuho upped their price objective on shares of Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. lifted their target price on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Wedbush restated an “outperform” rating and set a $440.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Finally, HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and increased their price objective for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.