Howe & Rusling Inc. Trims Position in The Home Depot, Inc. (NYSE:HD)

Howe & Rusling Inc. reduced its holdings in The Home Depot, Inc. (NYSE:HD) by 14.5% during the 4th quarter, Holdings Channel reports. The fund owned 2,444 shares of the home improvement retailer’s stock after selling 416 shares during the period. Howe & Rusling Inc.’s holdings in Home Depot were worth $951,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. POM Investment Strategies LLC raised its stake in shares of Home Depot by 1.1% during the 4th quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer’s stock valued at $824,000 after buying an additional 24 shares during the last quarter. Center for Financial Planning Inc. raised its position in Home Depot by 0.5% during the fourth quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer’s stock valued at $1,810,000 after acquiring an additional 24 shares in the last quarter. Insight Inv LLC lifted its holdings in Home Depot by 2.0% in the third quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer’s stock valued at $505,000 after acquiring an additional 25 shares during the period. Marino Stram & Associates LLC boosted its position in Home Depot by 2.3% in the 4th quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer’s stock worth $431,000 after purchasing an additional 25 shares in the last quarter. Finally, Live Oak Private Wealth LLC grew its stake in shares of Home Depot by 0.5% during the 4th quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer’s stock worth $1,912,000 after purchasing an additional 25 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Up 0.3 %

Shares of NYSE:HD opened at $362.01 on Thursday. The business has a 50-day moving average price of $391.94 and a 200 day moving average price of $398.90. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The company has a market capitalization of $359.61 billion, a price-to-earnings ratio of 24.59, a PEG ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) 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%. The business’s revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.82 EPS. Sell-side analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a dividend of $2.30 per share. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.54%. The ex-dividend date is Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on HD shares. Wedbush reissued an “outperform” rating and set a $440.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Piper Sandler lowered their target price on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research note on Monday. KGI Securities upgraded Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and increased their price target for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Finally, Robert W. Baird cut their price objective on 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 issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and an average target price of $435.85.

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.