LM Advisors LLC Raises Stake in The Home Depot, Inc. (NYSE:HD)

LM Advisors LLC grew its position in shares of The Home Depot, Inc. (NYSE:HD) by 111.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 5,095 shares of the home improvement retailer’s stock after purchasing an additional 2,687 shares during the quarter. LM Advisors LLC’s holdings in Home Depot were worth $1,982,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HD. SYM FINANCIAL Corp lifted its stake in Home Depot by 17.8% in the third quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock worth $777,000 after purchasing an additional 289 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Home Depot by 10.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer’s stock worth $596,140,000 after buying an additional 141,915 shares during the period. United Bank lifted its stake in Home Depot by 4.2% in the third quarter. United Bank now owns 4,458 shares of the home improvement retailer’s stock worth $1,806,000 after acquiring an additional 181 shares during the period. Algert Global LLC bought a new position in Home Depot in the 3rd quarter worth $649,000. Finally, Cadence Bank boosted its stake in shares of Home Depot by 5.6% during the 3rd quarter. Cadence Bank now owns 15,678 shares of the home improvement retailer’s stock valued at $6,353,000 after purchasing an additional 836 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HD. Truist Financial dropped their price target on Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $455.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Wedbush reiterated an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and raised their price target for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. Finally, Hsbc Global Res raised shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $435.85.

Home Depot Stock Performance

Shares of NYSE:HD opened at $362.01 on Thursday. The business’s 50 day moving average price is $391.94 and its 200-day moving average price is $398.90. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The firm has a market capitalization of $359.61 billion, a PE ratio of 24.59, a P/E/G ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.09. The company had revenue of $39.70 billion during the quarter, compared to analysts’ expectations 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 firm earned $2.82 earnings per share. As a group, equities research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company 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 is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.54%. Home Depot’s dividend payout ratio is currently 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.