Northwest & Ethical Investments L.P. Has $2.67 Million Stock Position in The Home Depot, Inc. (NYSE:HD)

Northwest & Ethical Investments L.P. increased its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 3.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,855 shares of the home improvement retailer’s stock after buying an additional 250 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Home Depot were worth $2,666,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Synergy Asset Management LLC acquired a new stake in shares of Home Depot during the fourth quarter worth $26,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Home Depot in the 4th quarter valued at about $28,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Home Depot in the fourth quarter valued at about $32,000. NewSquare Capital LLC lifted its holdings in shares of Home Depot by 200.0% in the fourth 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 in the last quarter. Finally, Legacy Investment Solutions LLC acquired a new position in shares of Home Depot during the third quarter worth about $41,000. 70.86% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on HD shares. Wedbush restated an “outperform” rating and issued a $440.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Piper Sandler cut their price objective on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Guggenheim restated a “buy” rating and set a $450.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Truist Financial lowered their price target 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. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $436.50.

Home Depot Stock Up 0.5 %

Shares of HD opened at $355.31 on Friday. The firm has a 50 day simple moving average of $394.73 and a two-hundred day simple moving average of $398.78. 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 one year low of $323.77 and a one year high of $439.37. The company has a market cap of $352.95 billion, a P/E ratio of 24.14, a P/E/G ratio of 4.03 and a beta of 1.09.

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

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $2.30 dividend. This is an increase 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 2.59%. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is presently 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.