Intact Investment Management Inc. Reduces Stake in The Home Depot, Inc. (NYSE:HD)

Intact Investment Management Inc. lessened its holdings in The Home Depot, Inc. (NYSE:HD) by 20.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 44,995 shares of the home improvement retailer’s stock after selling 11,880 shares during the period. Intact Investment Management Inc.’s holdings in Home Depot were worth $17,503,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of HD. Synergy Asset Management LLC acquired a new position in shares of Home Depot in the 4th quarter valued at $26,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Home Depot in the 4th quarter valued at $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Home Depot in the 4th quarter valued at $32,000. NewSquare Capital LLC lifted its stake in shares of Home Depot by 200.0% in the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after purchasing an additional 68 shares during the last quarter. Finally, Legacy Investment Solutions LLC acquired a new position in shares of Home Depot in the 3rd quarter valued at $41,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on HD shares. Piper Sandler decreased their price target on Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. JPMorgan Chase & Co. increased their target price on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Robert W. Baird decreased their target price on Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company increased their target price on Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Nine 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. 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 Trading Down 4.7 %

HD opened at $347.42 on Friday. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The company has a market cap of $345.12 billion, a P/E ratio of 23.60, a PEG ratio of 4.03 and a beta of 1.09. 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 business’s 50-day simple moving average is $398.19 and its 200-day simple moving average is $399.42.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. The firm had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.82 EPS. As a group, equities research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.65%. 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 currently 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.