Boston Partners Decreases Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Boston Partners cut its stake in The Home Depot, Inc. (NYSE:HD) by 12.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 905,056 shares of the home improvement retailer’s stock after selling 133,900 shares during the quarter. Boston Partners’ holdings in Home Depot were worth $353,061,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. POM Investment Strategies LLC boosted its stake in 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 acquiring an additional 24 shares during the last quarter. Center for Financial Planning Inc. raised its stake 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 buying an additional 24 shares in the last quarter. Insight Inv LLC lifted its holdings in Home Depot by 2.0% during the 3rd quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer’s stock worth $505,000 after buying an additional 25 shares during the last quarter. Marino Stram & Associates LLC grew its position in shares of 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 acquiring an additional 25 shares in the last quarter. Finally, Live Oak Private Wealth LLC increased its holdings in shares of Home Depot by 0.5% in the 4th quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer’s stock valued at $1,912,000 after acquiring an additional 25 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on HD shares. Royal Bank of Canada dropped their target price on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. KGI Securities raised shares of Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. Piper Sandler lowered their target price on Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Truist Financial cut their price target on Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Finally, Wedbush restated an “outperform” rating and set a $440.00 price objective on shares of Home Depot in a research note 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $436.50.

Home Depot Price Performance

HD stock opened at $354.06 on Tuesday. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. The company has a fifty day moving average price of $396.73 and a 200-day moving average price of $399.54. The company has a market capitalization of $351.71 billion, a P/E ratio of 24.05, a PEG ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last released its quarterly earnings data 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 firm had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period last year, the firm earned $2.82 earnings per share. As a group, 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. Shareholders of record on Thursday, March 13th will be issued a dividend of $2.30 per share. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.60%. Home Depot’s payout ratio is presently 61.66%.

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.