The Home Depot, Inc. (NYSE:HD) Shares Sold by Welch & Forbes LLC

Welch & Forbes LLC lessened its stake in The Home Depot, Inc. (NYSE:HD) by 0.1% in the 4th quarter, Holdings Channel reports. The firm owned 430,645 shares of the home improvement retailer’s stock after selling 336 shares during the period. Home Depot comprises about 2.2% of Welch & Forbes LLC’s portfolio, making the stock its 9th largest holding. Welch & Forbes LLC’s holdings in Home Depot were worth $167,517,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Synergy Asset Management LLC purchased a new position in Home Depot in the 4th quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. purchased a new position in Home Depot in the 4th quarter valued at approximately $28,000. Bradley & Co. Private Wealth Management LLC purchased a new position in Home Depot in the 4th quarter valued at approximately $32,000. Legacy Investment Solutions LLC purchased a new position in Home Depot in the 3rd quarter valued at approximately $41,000. Finally, Marshall Investment Management LLC purchased a new position in Home Depot in the 4th quarter valued at approximately $41,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Down 1.3 %

Shares of NYSE HD opened at $381.48 on Friday. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37. The company 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 company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The firm’s 50-day moving average is $400.54 and its two-hundred day moving average is $399.49.

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 company had revenue of $39.70 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.82 earnings per share. Equities analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently disclosed 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 an increase from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $9.20 annualized dividend and a dividend yield of 2.41%. Home Depot’s dividend payout ratio is presently 61.66%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on HD. Wells Fargo & Company lifted their price objective on shares of Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Robert W. Baird decreased their price objective on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Truist Financial decreased their price objective on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Wedbush reiterated an “outperform” rating and set a $440.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Finally, Stifel Nicolaus lifted their price target on shares of Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Nine analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.