Providence First Trust Co Purchases 2,944 Shares of The Home Depot, Inc. (NYSE:HD)

Providence First Trust Co boosted its position in The Home Depot, Inc. (NYSE:HD) by 535.3% during the 4th quarter, HoldingsChannel reports. The firm owned 3,494 shares of the home improvement retailer’s stock after purchasing an additional 2,944 shares during the period. Providence First Trust Co’s holdings in Home Depot were worth $1,359,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in shares of Home Depot by 2.0% in the third quarter. Geode Capital Management LLC now owns 21,700,427 shares of the home improvement retailer’s stock worth $8,767,449,000 after buying an additional 433,126 shares during the last quarter. Fisher Asset Management LLC raised its position in Home Depot by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 9,552,090 shares of the home improvement retailer’s stock worth $3,715,668,000 after acquiring an additional 125,441 shares during the period. FMR LLC boosted its stake in shares of Home Depot by 10.1% during the 3rd quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock worth $3,516,827,000 after acquiring an additional 795,438 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Home Depot by 5.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,030,483 shares of the home improvement retailer’s stock valued at $3,253,952,000 after acquiring an additional 409,890 shares during the period. Finally, Swiss National Bank increased its stake in shares of Home Depot by 0.3% in the 3rd quarter. Swiss National Bank now owns 2,943,400 shares of the home improvement retailer’s stock worth $1,192,666,000 after purchasing an additional 9,200 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Performance

Home Depot stock opened at $396.69 on Friday. The company’s 50-day moving average price is $401.36 and its 200-day moving average price is $398.72. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The company has a market cap of $394.06 billion, a PE ratio of 26.95, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37.

Home Depot (NYSE:HD) last issued 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 return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. During the same period in the previous year, the firm posted $2.82 earnings per share. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, equities 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. Investors of record on Thursday, March 13th will be issued a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.32%. The ex-dividend date is Thursday, March 13th. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is presently 61.66%.

Wall Street Analyst Weigh In

HD has been the topic of several analyst reports. Royal Bank of Canada lowered their target price on Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Barclays lifted their price objective on Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Guggenheim reiterated a “buy” rating and set a $450.00 price objective on shares of Home Depot in a research note on Wednesday. Evercore ISI raised their target price on shares of Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Truist Financial dropped their price target 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. Nine investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $436.50.

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.