Equitable Trust Co. Increases Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Equitable Trust Co. increased its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 1.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,779 shares of the home improvement retailer’s stock after acquiring an additional 547 shares during the quarter. Home Depot makes up about 0.7% of Equitable Trust Co.’s holdings, making the stock its 29th largest position. Equitable Trust Co.’s holdings in Home Depot were worth $11,661,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Fairway Wealth LLC bought a new stake in shares of Home Depot in the second quarter valued at $25,000. Kings Path Partners LLC bought a new stake in shares of Home Depot in the second quarter valued at $33,000. Denver PWM LLC bought a new stake in shares of Home Depot in the second quarter valued at $40,000. Livelsberger Financial Advisory bought a new stake in shares of Home Depot during the 3rd quarter valued at $46,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Home Depot during the 2nd quarter valued at $47,000. 70.86% of the stock is currently owned by institutional investors.

Home Depot Price Performance

NYSE:HD opened at $405.90 on Friday. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74. The business’s 50-day simple moving average is $395.19 and its two-hundred day simple moving average is $363.84. The stock has a market cap of $403.18 billion, a PE ratio of 27.31, a P/E/G ratio of 2.69 and a beta of 1.01. The Home Depot, Inc. has a 52 week low of $286.79 and a 52 week high of $421.56.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, topping the consensus estimate of $4.59 by $0.08. Home Depot had a return on equity of 733.61% and a net margin of 9.71%. The company had revenue of $43.18 billion during the quarter, compared to analyst estimates of $42.57 billion. During the same quarter last year, the business posted $4.65 earnings per share. The firm’s revenue was up .6% on a year-over-year basis. As a group, analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio is presently 60.57%.

Analyst Ratings Changes

A number of analysts recently issued reports on HD shares. Barclays boosted their price objective on Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday. Loop Capital upgraded Home Depot from a “hold” rating to a “buy” rating and boosted their target price for the stock from $360.00 to $460.00 in a research report on Wednesday, October 9th. UBS Group boosted their target price on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Stifel Nicolaus cut their price objective on Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a report on Wednesday, August 14th. Finally, Piper Sandler upped their price objective on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $420.04.

About Home Depot

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.