1ST Source Bank Lowers Stock Holdings in The Home Depot, Inc. (NYSE:HD)

1ST Source Bank trimmed its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 3.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 22,765 shares of the home improvement retailer’s stock after selling 813 shares during the period. 1ST Source Bank’s holdings in Home Depot were worth $8,855,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in HD. SYM FINANCIAL Corp lifted its holdings in shares of Home Depot by 17.8% during the third quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock valued at $777,000 after purchasing an additional 289 shares during the last quarter. Swedbank AB increased its position in shares of Home Depot by 17.1% during the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after acquiring an additional 132,967 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Home Depot by 10.7% during the third quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer’s stock valued at $596,140,000 after acquiring an additional 141,915 shares in the last quarter. United Bank increased its position in shares of Home Depot by 4.2% during the third quarter. United Bank now owns 4,458 shares of the home improvement retailer’s stock valued at $1,806,000 after acquiring an additional 181 shares in the last quarter. Finally, Schneider Downs Wealth Management Advisors LP increased its position in shares of Home Depot by 4.2% during the third quarter. Schneider Downs Wealth Management Advisors LP now owns 869 shares of the home improvement retailer’s stock valued at $352,000 after acquiring an additional 35 shares in the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Piper Sandler reduced their price target on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Royal Bank of Canada reduced their price target on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 26th. KGI Securities raised shares of Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Wells Fargo & Company lifted their target price 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. Finally, Robert W. Baird cut their target price 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. Nine research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Stock Up 1.1 %

HD opened at $351.16 on Monday. 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’s fifty day moving average is $397.43 and its 200 day moving average is $399.63. The stock has a market cap of $348.83 billion, a price-to-earnings ratio of 23.86, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last released 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. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. During the same quarter in the previous year, the company earned $2.82 EPS. Home Depot’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, sell-side analysts forecast 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 announced 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 a boost 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 dividend yield of 2.62%. Home Depot’s payout ratio 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.