Naviter Wealth LLC Acquires 3,146 Shares of The Home Depot, Inc. (NYSE:HD)

Naviter Wealth LLC raised its position in The Home Depot, Inc. (NYSE:HD) by 39.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 11,150 shares of the home improvement retailer’s stock after purchasing an additional 3,146 shares during the period. Naviter Wealth LLC’s holdings in Home Depot were worth $4,337,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. K.J. Harrison & Partners Inc lifted its position in shares of Home Depot by 65.2% in the 4th quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock worth $3,535,000 after purchasing an additional 3,590 shares during the period. Pensionfund Sabic lifted its position in shares of Home Depot by 51.4% during the 4th quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock valued at $4,357,000 after acquiring an additional 3,800 shares during the period. Swedbank AB lifted its position in shares of Home Depot by 17.1% during the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after acquiring an additional 132,967 shares during the period. Wedmont Private Capital lifted its position in shares of Home Depot by 12.5% during the 4th quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock valued at $5,291,000 after acquiring an additional 1,506 shares during the period. Finally, Johnson & White Wealth Management LLC acquired a new position in shares of Home Depot during the 4th quarter valued at $1,793,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on HD shares. Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and boosted their target price for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. Truist Financial decreased 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 note on Wednesday, February 26th. Royal Bank of Canada dropped their price objective on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company raised their price objective on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Nine research 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Price Performance

HD opened at $376.66 on Friday. The company has a market capitalization of $374.16 billion, a price-to-earnings ratio of 25.59, a PEG ratio of 4.03 and a beta of 1.05. 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 firm has a 50-day moving average price of $400.21 and a 200-day moving average price of $399.59. 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 posted its earnings results 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. The firm had revenue of $39.70 billion during 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 company’s revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the company earned $2.82 earnings per share. Equities analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $2.30 dividend. This is an increase from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. This represents a $9.20 annualized dividend and a dividend yield of 2.44%. Home Depot’s dividend payout ratio (DPR) is presently 61.66%.

Home Depot 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.