The Home Depot, Inc. (NYSE:HD) Stock Position Boosted by Twin Capital Management Inc.

Twin Capital Management Inc. grew its stake in shares of The Home Depot, Inc. (NYSE:HD) by 25.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,934 shares of the home improvement retailer’s stock after buying an additional 3,799 shares during the quarter. Home Depot comprises 0.8% of Twin Capital Management Inc.’s holdings, making the stock its 19th biggest position. Twin Capital Management Inc.’s holdings in Home Depot were worth $7,365,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. K.J. Harrison & Partners Inc lifted its position in Home Depot by 65.2% in the fourth 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. Ashton Thomas Private Wealth LLC raised its stake in shares of Home Depot by 19.5% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock worth $9,242,000 after buying an additional 3,873 shares in the last quarter. Pensionfund Sabic boosted its stake in Home Depot by 51.4% during the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock valued at $4,357,000 after buying an additional 3,800 shares in the last quarter. Wedmont Private Capital boosted its stake in Home Depot by 12.5% during the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock valued at $5,291,000 after buying an additional 1,506 shares in the last quarter. Finally, Disciplined Investors L.L.C. acquired a new position in Home Depot during the fourth quarter worth about $409,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on HD shares. Piper Sandler reduced their price objective on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. Gordon Haskett cut shares of Home Depot from a “buy” rating to a “hold” rating in a report on Friday. Wedbush reaffirmed an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a report on Wednesday, February 26th. HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and lifted their target price for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. increased their price target on Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Ten research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and a consensus target price of $435.85.

Home Depot Stock Down 0.6 %

Home Depot stock opened at $353.78 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 Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. The firm’s fifty day simple moving average is $384.89 and its 200-day simple moving average is $398.35. The company has a market capitalization of $351.67 billion, a P/E ratio of 24.03, a P/E/G ratio of 4.03 and a beta of 1.08.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. The company had revenue of $39.70 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.82 earnings per share. Sell-side analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a dividend of $2.30 per share. The ex-dividend date was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.60%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio 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.