Natixis Advisors L.P. Boosts Holdings in The Home Depot, Inc. (NYSE:HD)

Posted by on Apr 11th, 2023

Natixis Advisors L.P. grew its position in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 16.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 563,677 shares of the home improvement retailer’s stock after buying an additional 79,372 shares during the quarter. Home Depot accounts for 0.7% of Natixis Advisors L.P.’s investment portfolio, making the stock its 19th largest holding. Natixis Advisors L.P. owned 0.06% of Home Depot worth $178,043,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Cottage Street Advisors LLC grew its stake in shares of Home Depot by 26,657.7% during the 4th quarter. Cottage Street Advisors LLC now owns 3,580,444 shares of the home improvement retailer’s stock worth $659,000 after purchasing an additional 3,567,063 shares during the period. Renaissance Technologies LLC purchased a new position in Home Depot in the 1st quarter valued at about $563,524,000. Charles Schwab Investment Management Inc. grew its stake in Home Depot by 14.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,729,735 shares of the home improvement retailer’s stock worth $3,211,731,000 after acquiring an additional 1,361,660 shares during the period. Altshuler Shaham Ltd acquired a new stake in Home Depot in the 3rd quarter worth about $341,915,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Home Depot by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 94,440,614 shares of the home improvement retailer’s stock worth $26,059,943,000 after acquiring an additional 1,011,858 shares during the period. Institutional investors and hedge funds own 68.31% of the company’s stock.

Home Depot Trading Up 0.9 %

Home Depot stock opened at $291.17 on Tuesday. The Home Depot, Inc. has a 52 week low of $264.51 and a 52 week high of $347.25. The company has a debt-to-equity ratio of 26.86, a quick ratio of 0.33 and a current ratio of 1.41. The firm has a market capitalization of $294.86 billion, a PE ratio of 17.46, a PEG ratio of 1.67 and a beta of 0.93. The business’s 50-day simple moving average is $300.14 and its 200-day simple moving average is $304.21.

Home Depot (NYSE:HD – Get Rating) last posted its quarterly earnings results on Tuesday, February 21st. The home improvement retailer reported $3.30 EPS for the quarter, beating the consensus estimate of $3.26 by $0.04. The firm had revenue of $35.83 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.21 EPS. Equities research analysts forecast that The Home Depot, Inc. will post 15.85 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 23rd. Shareholders of record on Thursday, March 9th were paid a dividend of $2.09 per share. This is a positive change from Home Depot’s previous quarterly dividend of $1.90. This represents a $8.36 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend was Wednesday, March 8th. Home Depot’s dividend payout ratio is currently 50.12%.

Wall Street Analyst Weigh In

HD has been the subject of a number of recent analyst reports. Barclays lowered their target price on shares of Home Depot from $323.00 to $310.00 and set an “equal weight” rating for the company in a report on Wednesday, February 22nd. UBS Group dropped their price objective on Home Depot from $350.00 to $340.00 and set a “buy” rating for the company in a report on Wednesday, February 22nd. Cowen reduced their target price on Home Depot from $379.00 to $360.00 and set an “outperform” rating on the stock in a report on Wednesday, February 22nd. DA Davidson dropped their price target on Home Depot from $334.00 to $306.00 and set a “neutral” rating for the company in a research note on Wednesday, February 22nd. Finally, Bank of America reduced their price objective on Home Depot from $360.00 to $346.00 in a research note on Wednesday, February 22nd. Thirteen investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $329.89.

Home Depot Profile

(Get Rating)

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.

Featured Stories

Want to see what other hedge funds are holding HD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Home Depot, Inc. (NYSE:HD – Get Rating).

Institutional Ownership by Quarter for Home Depot (NYSE:HD)

Receive News & Ratings for Home Depot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Home Depot and related companies with MarketBeat.com's FREE daily email newsletter.