Plato Investment Management Ltd Purchases 2,027 Shares of The Home Depot, Inc. (NYSE:HD)

Plato Investment Management Ltd boosted its position in The Home Depot, Inc. (NYSE:HD) by 8.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 25,037 shares of the home improvement retailer’s stock after acquiring an additional 2,027 shares during the period. Home Depot accounts for approximately 0.7% of Plato Investment Management Ltd’s portfolio, making the stock its 21st largest holding. Plato Investment Management Ltd’s holdings in Home Depot were worth $9,775,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Synergy Asset Management LLC bought a new stake in Home Depot in the 4th quarter valued at about $26,000. Wingate Wealth Advisors Inc. bought a new stake in Home Depot in the 4th quarter valued at about $28,000. Bradley & Co. Private Wealth Management LLC purchased a new position in Home Depot during the 4th quarter valued at about $32,000. Legacy Investment Solutions LLC purchased a new position in Home Depot during the 3rd quarter valued at about $41,000. Finally, Marshall Investment Management LLC purchased a new position in Home Depot during the 4th quarter valued at about $41,000. 70.86% of the stock is currently owned by institutional investors.

Home Depot Stock Performance

Shares of HD stock opened at $396.69 on Monday. 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 fifty-two week low of $323.77 and a fifty-two week high of $439.37. The stock has a 50 day moving average price of $401.36 and a two-hundred day moving average price of $399.37. The company has a market capitalization of $394.06 billion, a P/E ratio of 26.95, a PEG ratio of 4.03 and a beta of 1.05.

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. Analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a $2.30 dividend. The ex-dividend date is Thursday, March 13th. This represents a $9.20 annualized dividend and a yield of 2.32%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio is presently 61.66%.

Analysts Set New Price Targets

A number of research analysts have weighed in on HD shares. Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Mizuho lifted their target price on Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Wedbush reaffirmed an “outperform” rating and set a $440.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Royal Bank of Canada reduced their target price on Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a report on Wednesday, February 26th. Finally, Bank of America lifted their target price on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Nine investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and an average price target of $436.50.

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.