Edgemoor Investment Advisors Inc. Has $843,000 Stake in The Home Depot, Inc. (NYSE:HD)

Edgemoor Investment Advisors Inc. increased its position in shares of The Home Depot, Inc. (NYSE:HD) by 3.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,167 shares of the home improvement retailer’s stock after buying an additional 80 shares during the period. Edgemoor Investment Advisors Inc.’s holdings in Home Depot were worth $843,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Synergy Asset Management LLC acquired a new position in Home Depot during the fourth quarter worth $26,000. Wingate Wealth Advisors Inc. acquired a new position in Home Depot during the fourth quarter worth $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in Home Depot during the fourth quarter worth $32,000. NewSquare Capital LLC increased its holdings in Home Depot by 200.0% during the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock worth $40,000 after buying an additional 68 shares during the last quarter. Finally, Legacy Investment Solutions LLC acquired a new position in Home Depot during the third quarter worth $41,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Stock Up 1.1 %

Shares of NYSE HD opened at $351.16 on Monday. 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 cap of $348.83 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37. The stock has a 50-day moving average price of $397.43 and a two-hundred day moving average price of $399.63.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS 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 return on equity of 452.60% and a net margin of 9.45%. The business’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.82 earnings per share. As a group, 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 announced 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. This is an increase from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $9.20 annualized dividend and a yield of 2.62%. Home Depot’s payout ratio is presently 61.66%.

Analyst Upgrades and Downgrades

A number of research firms have commented on HD. HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and lifted their price objective for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Robert W. Baird reduced their price objective 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. KGI Securities raised shares of Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Piper Sandler reduced their price objective on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $455.00 price objective on shares of Home Depot 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $436.50.

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.