FineMark National Bank & Trust Sells 2,863 Shares of The Home Depot, Inc. (NYSE:HD)

FineMark National Bank & Trust cut its position in The Home Depot, Inc. (NYSE:HD) by 3.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 88,969 shares of the home improvement retailer’s stock after selling 2,863 shares during the period. Home Depot makes up about 1.2% of FineMark National Bank & Trust’s holdings, making the stock its 15th largest holding. FineMark National Bank & Trust’s holdings in Home Depot were worth $34,608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Synergy Asset Management LLC bought a new position in Home Depot in the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. bought a new stake in Home Depot during the 4th quarter valued at $28,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Home Depot during the fourth quarter worth $32,000. NewSquare Capital LLC boosted its holdings in shares of Home Depot by 200.0% in the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock worth $40,000 after acquiring an additional 68 shares during the period. Finally, Legacy Investment Solutions LLC purchased a new position in shares of Home Depot in the third quarter valued at $41,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

NYSE:HD opened at $363.97 on Tuesday. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. The firm 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 business has a 50 day moving average price of $393.46 and a 200-day moving average price of $399.16.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. The business 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 company’s revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.82 EPS. Equities research analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a dividend of $2.30 per share. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.53%. Home Depot’s dividend payout ratio is presently 61.66%.

Analysts Set New Price Targets

HD has been the topic of a number of recent research reports. HSBC raised 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 report on Wednesday, February 26th. Wells Fargo & Company increased their price target on shares of Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Guggenheim reaffirmed a “buy” rating and set a $450.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Truist Financial cut their price target on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Finally, KGI Securities raised shares of Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. Nine investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $435.85.

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.