DnB Asset Management AS Purchases 7,138 Shares of The Home Depot, Inc. (NYSE:HD)

DnB Asset Management AS raised its position in shares of The Home Depot, Inc. (NYSE:HD) by 3.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 244,457 shares of the home improvement retailer’s stock after purchasing an additional 7,138 shares during the period. DnB Asset Management AS’s holdings in Home Depot were worth $95,091,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. POM Investment Strategies LLC raised its holdings in shares of Home Depot by 1.1% during the 4th quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer’s stock worth $824,000 after buying an additional 24 shares in the last quarter. Center for Financial Planning Inc. lifted its holdings in shares of Home Depot by 0.5% in the fourth quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer’s stock worth $1,810,000 after acquiring an additional 24 shares during the last quarter. Insight Inv LLC boosted its stake in shares of 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 in the last quarter. Marino Stram & Associates LLC grew its holdings in shares of Home Depot by 2.3% during the 4th quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer’s stock valued at $431,000 after purchasing an additional 25 shares during the last quarter. Finally, Live Oak Private Wealth LLC increased its position in Home Depot by 0.5% during the 4th quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer’s stock worth $1,912,000 after purchasing an additional 25 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors.

Home Depot Trading Up 0.2 %

HD opened at $362.96 on Friday. The firm has a market capitalization of $360.55 billion, a PE ratio of 24.66, a P/E/G ratio of 4.03 and a beta of 1.09. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. The company’s 50-day moving average is $391.01 and its 200 day moving average is $398.65.

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

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $2.30 per share. This is a positive change 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 2.53%. The ex-dividend date was Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is presently 61.66%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on HD. Truist Financial decreased 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. Royal Bank of Canada lowered their target price on Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a report on Wednesday, February 26th. Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. upped their price objective on Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Finally, Piper Sandler reduced their target price on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a report on Monday. Nine equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and an average price target of $435.85.

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.