Catalyst Capital Advisors LLC Cuts Stake in The Home Depot, Inc. (NYSE:HD)

Catalyst Capital Advisors LLC lessened its stake in The Home Depot, Inc. (NYSE:HD) by 54.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,799 shares of the home improvement retailer’s stock after selling 3,309 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Home Depot were worth $1,134,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Rational Advisors LLC boosted its holdings in shares of Home Depot by 570.7% during the 3rd quarter. Rational Advisors LLC now owns 5,500 shares of the home improvement retailer’s stock valued at $2,229,000 after purchasing an additional 4,680 shares during the last quarter. Impax Asset Management Group plc lifted its position in shares of Home Depot by 81.8% in the third quarter. Impax Asset Management Group plc now owns 9,558 shares of the home improvement retailer’s stock worth $3,873,000 after buying an additional 4,300 shares in the last quarter. Quintet Private Bank Europe S.A. boosted its stake in Home Depot by 13.0% during the third quarter. Quintet Private Bank Europe S.A. now owns 7,290 shares of the home improvement retailer’s stock valued at $2,954,000 after buying an additional 840 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services grew its holdings in Home Depot by 4.9% during the 3rd quarter. First National Bank of Mount Dora Trust Investment Services now owns 16,797 shares of the home improvement retailer’s stock valued at $6,806,000 after buying an additional 785 shares in the last quarter. Finally, PDS Planning Inc increased its stake in Home Depot by 2.8% in the 3rd quarter. PDS Planning Inc now owns 6,752 shares of the home improvement retailer’s stock worth $2,736,000 after acquiring an additional 181 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

NYSE HD opened at $400.21 on Wednesday. The company has a market cap of $397.53 billion, a PE ratio of 26.93, a P/E/G ratio of 2.72 and a beta of 1.01. The firm’s 50 day moving average price is $393.49 and its 200-day moving average price is $362.92. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. 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 announced its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. The business had revenue of $43.18 billion for the quarter, compared to the consensus estimate of $42.57 billion. Home Depot had a return on equity of 733.61% and a net margin of 9.71%. The business’s revenue was up .6% compared to the same quarter last year. During the same period last year, the business posted $4.65 EPS. Sell-side analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on HD. Oppenheimer increased their target price on Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research report on Tuesday, September 24th. Truist Financial lifted their price objective on shares of Home Depot from $395.00 to $455.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Loop Capital upgraded shares of Home Depot from a “hold” rating to a “buy” rating and upped their target price for the company from $360.00 to $460.00 in a research report on Wednesday, October 9th. DA Davidson lifted their price target on Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. upped their price objective on Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $415.26.

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.