Forum Private Client Group LLC Cuts Holdings in The Home Depot, Inc. (NYSE:HD)

Forum Private Client Group LLC cut its holdings in The Home Depot, Inc. (NYSE:HD) by 25.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 728 shares of the home improvement retailer’s stock after selling 247 shares during the quarter. Forum Private Client Group LLC’s holdings in Home Depot were worth $283,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Quadrant Capital Group LLC boosted its holdings in Home Depot by 1.4% during the fourth quarter. Quadrant Capital Group LLC now owns 16,236 shares of the home improvement retailer’s stock worth $6,316,000 after buying an additional 217 shares in the last quarter. Ilmarinen Mutual Pension Insurance Co boosted its stake in shares of Home Depot by 35.7% during the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 152,096 shares of the home improvement retailer’s stock worth $59,164,000 after acquiring an additional 40,000 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Home Depot by 1.0% in the 4th quarter. Russell Investments Group Ltd. now owns 611,389 shares of the home improvement retailer’s stock worth $237,864,000 after acquiring an additional 5,957 shares during the period. Hemenway Trust Co LLC increased its stake in Home Depot by 0.4% in the 4th quarter. Hemenway Trust Co LLC now owns 100,920 shares of the home improvement retailer’s stock valued at $39,257,000 after purchasing an additional 441 shares in the last quarter. Finally, Perennial Investment Advisors LLC raised its holdings in Home Depot by 2.4% during the fourth quarter. Perennial Investment Advisors LLC now owns 3,641 shares of the home improvement retailer’s stock worth $1,417,000 after purchasing an additional 84 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. Piper Sandler cut their target price on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. Robert W. Baird reduced their price target on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. KGI Securities raised Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Finally, JPMorgan Chase & Co. raised their price target on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. 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 company’s stock. According to MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and a consensus price target of $435.85.

Home Depot Trading Down 0.6 %

Shares of HD stock opened at $353.78 on Friday. 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 fifty-two week low of $323.77 and a fifty-two week high of $439.37. The firm’s 50 day moving average price is $384.89 and its two-hundred day moving average price is $398.25. The stock has a market cap of $351.67 billion, a price-to-earnings ratio of 24.03, a price-to-earnings-growth ratio of 4.03 and a beta of 1.08.

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, beating the consensus estimate of $3.04 by $0.09. The firm had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.82 EPS. On average, analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a $2.30 dividend. This is an increase from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. This represents a $9.20 annualized dividend and a yield of 2.60%. Home Depot’s dividend payout ratio (DPR) is 61.66%.

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.