Alerus Financial NA Cuts Holdings in The Home Depot, Inc. (NYSE:HD)

Alerus Financial NA lessened its stake in The Home Depot, Inc. (NYSE:HD) by 1.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,547 shares of the home improvement retailer’s stock after selling 107 shares during the quarter. Alerus Financial NA’s holdings in Home Depot were worth $2,158,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vertex Planning Partners LLC raised its holdings in shares of Home Depot by 8.1% in the 4th quarter. Vertex Planning Partners LLC now owns 931 shares of the home improvement retailer’s stock valued at $362,000 after purchasing an additional 70 shares in the last quarter. Slagle Financial LLC increased its holdings in Home Depot by 5.8% in the fourth quarter. Slagle Financial LLC now owns 6,727 shares of the home improvement retailer’s stock valued at $2,617,000 after buying an additional 371 shares during the last quarter. Premier Fund Managers Ltd acquired a new stake in Home Depot in the fourth quarter valued at $20,023,000. Orion Portfolio Solutions LLC lifted its holdings in Home Depot by 2.4% during the 4th quarter. Orion Portfolio Solutions LLC now owns 79,907 shares of the home improvement retailer’s stock worth $31,083,000 after buying an additional 1,836 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its position in shares of Home Depot by 21.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,049,746 shares of the home improvement retailer’s stock worth $408,341,000 after acquiring an additional 183,267 shares in the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Stock Up 0.2 %

Shares of NYSE HD opened at $362.96 on Friday. The stock has a market capitalization of $360.55 billion, a price-to-earnings ratio of 24.66, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The firm has a 50-day moving average price of $391.01 and a 200 day moving average price 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.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. The company had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period last year, the firm earned $2.82 EPS. Equities research analysts anticipate 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 was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a $2.30 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.53%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

Analysts Set New Price Targets

Several research firms recently weighed in on HD. Piper Sandler decreased their target price on Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research note on Monday. Robert W. Baird reduced their price objective on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. KGI Securities raised shares of Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Royal Bank of Canada reduced their price target on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 26th. Finally, Guggenheim reaffirmed a “buy” rating and set a $450.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong 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 $435.85.

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.