Vestcor Inc Sells 1,521 Shares of The Home Depot, Inc. (NYSE:HD)

Vestcor Inc decreased its position in The Home Depot, Inc. (NYSE:HD) by 5.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,381 shares of the home improvement retailer’s stock after selling 1,521 shares during the quarter. Vestcor Inc’s holdings in Home Depot were worth $9,873,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in Home Depot during the fourth quarter valued at about $2,212,546,000. Proficio Capital Partners LLC grew its position in Home Depot by 21,394.9% during the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock valued at $793,486,000 after buying an additional 2,030,372 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Home Depot during the third quarter valued at about $336,231,000. FMR LLC grew its position in Home Depot by 10.1% during the third quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after buying an additional 795,438 shares during the period. Finally, Amundi grew its position in Home Depot by 8.6% during the fourth quarter. Amundi now owns 7,554,880 shares of the home improvement retailer’s stock valued at $2,925,498,000 after buying an additional 599,490 shares during the period. Institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Guggenheim restated a “buy” rating and set a $450.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. KGI Securities upgraded shares of Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. 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. Wedbush reiterated an “outperform” rating and set a $440.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Finally, Truist Financial cut their target price 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, February 26th. Nine investment 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, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus target price of $436.50.

Home Depot Trading Down 0.9 %

Shares of HD opened at $364.82 on Thursday. The firm’s 50 day simple moving average is $399.01 and its 200 day simple moving average is $399.78. The company has a market capitalization of $362.39 billion, a P/E ratio of 24.78, a P/E/G ratio of 4.03 and a beta of 1.09. 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 1-year low of $323.77 and a 1-year high of $439.37.

Home Depot (NYSE:HD) last announced 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. The business had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period last year, the firm posted $2.82 earnings per share. 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.52%. Home Depot’s dividend payout ratio (DPR) is 61.66%.

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.