Eastern Bank Acquires 95,288 Shares of The Home Depot, Inc. (NYSE:HD)

Eastern Bank lifted its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 566.0% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 112,122 shares of the home improvement retailer’s stock after buying an additional 95,288 shares during the period. Eastern Bank’s holdings in Home Depot were worth $45,432,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Keystone Wealth Services LLC increased its holdings in shares of Home Depot by 3.3% during the first quarter. Keystone Wealth Services LLC now owns 1,804 shares of the home improvement retailer’s stock worth $692,000 after buying an additional 58 shares in the last quarter. Central Valley Advisors LLC increased its holdings in Home Depot by 0.4% in the 1st quarter. Central Valley Advisors LLC now owns 10,352 shares of the home improvement retailer’s stock worth $3,972,000 after purchasing an additional 45 shares in the last quarter. Riverview Trust Co raised its position in Home Depot by 7.3% in the first quarter. Riverview Trust Co now owns 1,105 shares of the home improvement retailer’s stock valued at $424,000 after purchasing an additional 75 shares during the last quarter. Fermata Advisors LLC boosted its stake in shares of Home Depot by 70.5% during the first quarter. Fermata Advisors LLC now owns 1,463 shares of the home improvement retailer’s stock valued at $561,000 after purchasing an additional 605 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC grew its holdings in shares of Home Depot by 1.5% during the first quarter. Dynamic Advisor Solutions LLC now owns 41,290 shares of the home improvement retailer’s stock worth $15,839,000 after purchasing an additional 598 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors.

Home Depot Stock Performance

NYSE HD opened at $401.85 on Wednesday. The Home Depot, Inc. has a 12-month low of $274.26 and a 12-month high of $421.56. The company has a market cap of $398.48 billion, a P/E ratio of 26.95, a PEG ratio of 2.88 and a beta of 1.00. The company has a fifty day simple moving average of $387.35 and a 200 day simple moving average of $359.15. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, topping the consensus estimate of $4.59 by $0.08. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The firm had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. During the same period in the prior year, the business posted $4.65 earnings per share. The company’s quarterly revenue was up .6% compared to the same quarter last year. Sell-side analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date was Thursday, August 29th. Home Depot’s payout ratio is 60.36%.

Wall Street Analyst Weigh In

HD has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Royal Bank of Canada cut their price target on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 14th. Morgan Stanley raised their target price on Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday. Truist Financial lifted their target price on Home Depot from $395.00 to $455.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, Jefferies Financial Group began coverage on Home Depot in a research note on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price target for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $410.67.

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.