Carret Asset Management LLC Sells 644 Shares of The Home Depot, Inc. (NYSE:HD)

Carret Asset Management LLC trimmed its holdings in The Home Depot, Inc. (NYSE:HD) by 4.0% in the 4th quarter, HoldingsChannel reports. The firm owned 15,518 shares of the home improvement retailer’s stock after selling 644 shares during the quarter. Carret Asset Management LLC’s holdings in Home Depot were worth $6,036,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HD. Synergy Asset Management LLC bought a new position in shares of Home Depot during the 4th quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. bought a new position in shares of Home Depot during the 4th quarter valued at approximately $28,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Home Depot during the 4th quarter valued at approximately $32,000. NewSquare Capital LLC boosted its position in shares of Home Depot by 200.0% during the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after acquiring an additional 68 shares during the last quarter. Finally, Legacy Investment Solutions LLC bought a new position in shares of Home Depot during the 3rd quarter valued at approximately $41,000. 70.86% of the stock is currently owned by institutional investors.

Home Depot Price Performance

HD opened at $347.42 on Friday. The business’s 50-day moving average is $398.19 and its two-hundred day moving average is $399.42. 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 $345.12 billion, a PE ratio of 23.60, a price-to-earnings-growth 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, 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 company had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. During the same quarter in the previous year, the firm earned $2.82 earnings per share. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. Research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.65%. 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 61.66%.

Analyst Ratings Changes

A number of research analysts have recently commented on HD shares. Wells Fargo & Company increased their target price on Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Telsey Advisory Group restated an “outperform” rating and issued a $455.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. JPMorgan Chase & Co. raised 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. Truist Financial lowered their price target on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Finally, HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and raised their price target for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $436.50.

Home Depot Company 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.