Bigelow Investment Advisors LLC Grows Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Posted by Defense World Staff on Apr 9th, 2023

Bigelow Investment Advisors LLC raised its stake in The Home Depot, Inc. (NYSE:HD – Get Rating) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,923 shares of the home improvement retailer’s stock after buying an additional 48 shares during the period. Bigelow Investment Advisors LLC’s holdings in Home Depot were worth $1,239,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BCK Partners Inc. acquired a new stake in Home Depot in the 1st quarter valued at about $2,933,000. Fairfield Bush & CO. purchased a new stake in shares of Home Depot in the first quarter valued at about $27,000. Ergoteles LLC purchased a new stake in shares of Home Depot in the first quarter valued at about $1,554,000. Equitable Holdings Inc. grew its position in shares of Home Depot by 7.4% in the first quarter. Equitable Holdings Inc. now owns 14,628 shares of the home improvement retailer’s stock valued at $4,379,000 after purchasing an additional 1,007 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Home Depot by 3.2% during the 1st quarter. First Trust Advisors LP now owns 791,318 shares of the home improvement retailer’s stock worth $236,865,000 after purchasing an additional 24,640 shares in the last quarter. 68.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HD has been the topic of a number of analyst reports. Loop Capital lowered their target price on Home Depot from $310.00 to $300.00 and set a “hold” rating on the stock in a report on Wednesday, February 22nd. Robert W. Baird decreased their price objective on Home Depot from $360.00 to $340.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 21st. UBS Group cut their target price on shares of Home Depot from $350.00 to $340.00 and set a “buy” rating for the company in a research note on Wednesday, February 22nd. Truist Financial decreased their price target on shares of Home Depot from $382.00 to $352.00 in a research note on Wednesday, February 22nd. Finally, Morgan Stanley cut their price objective on shares of Home Depot from $360.00 to $340.00 and set an “overweight” rating for the company in a research report on Wednesday, February 22nd. Thirteen investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and an average price target of $329.89.

Home Depot Stock Down 0.0 %

Shares of NYSE HD opened at $288.61 on Friday. The stock has a fifty day moving average price of $300.60 and a 200 day moving average price of $303.83. The company has a current ratio of 1.41, a quick ratio of 0.33 and a debt-to-equity ratio of 26.86. The Home Depot, Inc. has a 12-month low of $264.51 and a 12-month high of $347.25. The company has a market cap of $292.27 billion, a P/E ratio of 17.30, a P/E/G ratio of 1.67 and a beta of 0.93.

Home Depot (NYSE:HD – Get Rating) last issued its earnings results on Tuesday, February 21st. The home improvement retailer reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.04. The company had revenue of $35.83 billion during the quarter, compared to the consensus estimate of $36 billion. Home Depot had a return on equity of 4,929.40% and a net margin of 10.87%. The company’s revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.21 earnings per share. Research analysts anticipate that The Home Depot, Inc. will post 15.85 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 23rd. Shareholders of record on Thursday, March 9th were given a $2.09 dividend. This is an increase from Home Depot’s previous quarterly dividend of $1.90. The ex-dividend date of this dividend was Wednesday, March 8th. This represents a $8.36 annualized dividend and a yield of 2.90%. Home Depot’s dividend payout ratio (DPR) is 50.12%.

Home Depot Profile

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The Home Depot, Inc engages in the sale of building materials and home improvement products. Its products include building materials, home improvement products, lawn and garden products and decor products. The firm operates through the following geographical segments: U.S., Canada and Mexico. It offers home improvement installation services, and tool and equipment rental.