Envestnet Portfolio Solutions Inc. Has $56.65 Million Stock Position in The Home Depot, Inc. (NYSE:HD)

Envestnet Portfolio Solutions Inc. lessened its stake in shares of The Home Depot, Inc. (NYSE:HD) by 0.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 145,625 shares of the home improvement retailer’s stock after selling 217 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Home Depot were worth $56,647,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Synergy Asset Management LLC purchased a new position in shares of Home Depot during the fourth quarter valued at $26,000. Wingate Wealth Advisors Inc. acquired a new stake in Home Depot during the 4th quarter worth about $28,000. Bradley & Co. Private Wealth Management LLC purchased a new position in Home Depot during the 4th quarter valued at about $32,000. NewSquare Capital LLC increased its holdings in shares of Home Depot by 200.0% in the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after purchasing an additional 68 shares during the period. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of Home Depot in the third quarter worth approximately $41,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Up 1.1 %

Shares of HD opened at $351.16 on Friday. The business’s 50 day simple moving average is $397.43 and its 200-day simple moving average is $399.44. 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 company has a market capitalization of $348.83 billion, a P/E ratio of 23.86, a PEG ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. During the same quarter in the previous year, the company posted $2.82 EPS. Home Depot’s revenue was up 14.1% on a year-over-year basis. As a group, sell-side analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a $2.30 dividend. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s dividend payout ratio is currently 61.66%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Guggenheim reiterated a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Royal Bank of Canada reduced their price objective on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Wedbush reaffirmed an “outperform” rating and set a $440.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. JPMorgan Chase & Co. raised their price target on Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Finally, Truist Financial dropped 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 report on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and an average target price of $436.50.

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.