Providence First Trust Co Increases Stake in The Home Depot, Inc. (NYSE:HD)

Providence First Trust Co grew its stake in shares of The Home Depot, Inc. (NYSE:HD) by 535.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,494 shares of the home improvement retailer’s stock after purchasing an additional 2,944 shares during the quarter. Providence First Trust Co’s holdings in Home Depot were worth $1,359,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. K.J. Harrison & Partners Inc grew its holdings in 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 acquiring an additional 3,590 shares during the last quarter. Pensionfund Sabic boosted its holdings in shares of Home Depot by 51.4% during the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock worth $4,357,000 after purchasing an additional 3,800 shares during the period. Swedbank AB grew its stake in shares of Home Depot by 17.1% in the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after purchasing an additional 132,967 shares during the last quarter. Wedmont Private Capital increased its holdings in 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 purchasing an additional 1,506 shares during the period. Finally, Johnson & White Wealth Management LLC purchased a new position in Home Depot during the 4th quarter valued at about $1,793,000. Institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

HD stock opened at $396.69 on Friday. The stock’s 50 day simple moving average is $401.36 and its 200 day simple moving average is $398.72. 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 12-month low of $323.77 and a 12-month high of $439.37. The stock has a market capitalization of $394.06 billion, a PE ratio of 26.95, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. During the same period in the prior year, the company posted $2.82 earnings per share. The company’s quarterly revenue was up 14.1% on a year-over-year basis. As a group, research 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 declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is presently 61.66%.

Analyst Ratings Changes

HD has been the topic of a number of recent analyst reports. Guggenheim reiterated a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a research report on Wednesday. Royal Bank of Canada reduced 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 report on Wednesday. Barclays raised their target price on shares of Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Wedbush reaffirmed an “outperform” rating and set a $440.00 target price on shares of Home Depot in a research note on Wednesday. Finally, 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. Nine research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.