The Home Depot, Inc. (NYSE:HD) Shares Bought by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC increased its position in shares of The Home Depot, Inc. (NYSE:HD) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 79,907 shares of the home improvement retailer’s stock after purchasing an additional 1,836 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Home Depot were worth $31,083,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in Home Depot in the fourth quarter worth about $5,032,910,000. Raymond James Financial Inc. acquired a new position in Home Depot during the 4th quarter valued at $2,212,546,000. Proficio Capital Partners LLC raised its stake in shares of Home Depot by 21,394.9% in the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock valued at $793,486,000 after buying an additional 2,030,372 shares in the last quarter. Vanguard Group Inc. boosted its position in Home Depot by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock valued at $37,251,142,000 after buying an additional 875,836 shares in the last quarter. Finally, Amundi grew its stake in shares of Home Depot by 8.6% during the fourth quarter. Amundi now owns 7,554,880 shares of the home improvement retailer’s stock valued at $2,925,498,000 after purchasing an additional 599,490 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on HD shares. Truist Financial lowered their price target on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and raised their price objective for the company from $356.00 to $410.00 in a research note on Wednesday, February 26th. JPMorgan Chase & Co. boosted their price target on shares of Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Royal Bank of Canada cut their price objective on Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 26th. Finally, Wedbush reissued an “outperform” rating and set a $440.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Nine investment 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 stock. According to data from MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $435.85.

Home Depot Stock Performance

HD stock opened at $362.96 on Friday. The business has a 50 day moving average of $391.01 and a 200-day moving average of $398.65. 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 Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37. The firm has a market cap of $360.55 billion, a PE ratio of 24.66, a P/E/G ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $39.15 billion. During the same quarter in the previous year, the company posted $2.82 earnings per share. The business’s revenue was up 14.1% on a year-over-year basis. As a group, sell-side analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.53%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot’s payout ratio is 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.