Intech Investment Management LLC Raises Position in The Home Depot, Inc. (NYSE:HD)

Intech Investment Management LLC grew its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 12.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,155 shares of the home improvement retailer’s stock after purchasing an additional 3,562 shares during the period. Intech Investment Management LLC’s holdings in Home Depot were worth $12,897,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. SYM FINANCIAL Corp increased its position in shares of Home Depot by 17.8% in the 3rd quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock valued at $777,000 after acquiring an additional 289 shares during the period. Swedbank AB increased its position in shares of Home Depot by 17.1% in the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after acquiring an additional 132,967 shares during the period. Principal Financial Group Inc. increased its position in shares of 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 valued at $596,140,000 after acquiring an additional 141,915 shares during the period. United Bank increased its position in shares of Home Depot by 4.2% in the 3rd quarter. United Bank now owns 4,458 shares of the home improvement retailer’s stock valued at $1,806,000 after acquiring an additional 181 shares during the period. Finally, Vaughan Nelson Investment Management L.P. increased its position in shares of Home Depot by 2.8% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 7,405 shares of the home improvement retailer’s stock valued at $3,001,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and increased their price target for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Piper Sandler cut their price target on Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. JPMorgan Chase & Co. increased their price target on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Guggenheim reaffirmed a “buy” rating and set a $450.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Finally, KGI Securities raised Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Nine investment 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Trading Up 0.8 %

HD opened at $354.06 on Tuesday. 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 company’s 50 day simple moving average is $396.73 and its two-hundred day simple moving average is $399.54. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. The firm has a market capitalization of $351.71 billion, a price-to-earnings ratio of 24.05, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. During the same period last year, the company posted $2.82 EPS. 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 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. Stockholders of record on Thursday, March 13th will be given a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Thursday, March 13th. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio is presently 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.