The Home Depot, Inc. (NYSE:HD) Stock Holdings Increased by Wright Investors Service Inc.

Posted by Defense World Staff on Apr 12th, 2023

Wright Investors Service Inc. increased its stake in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 9.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,078 shares of the home improvement retailer’s stock after buying an additional 2,242 shares during the period. Home Depot comprises 2.5% of Wright Investors Service Inc.’s portfolio, making the stock its 4th largest holding. Wright Investors Service Inc.’s holdings in Home Depot were worth $8,553,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. JMG Financial Group Ltd. raised its position in Home Depot by 3.8% during the fourth quarter. JMG Financial Group Ltd. now owns 981 shares of the home improvement retailer’s stock worth $310,000 after acquiring an additional 36 shares during the last quarter. Boston Financial Mangement LLC raised its position in Home Depot by 1.0% during the fourth quarter. Boston Financial Mangement LLC now owns 58,593 shares of the home improvement retailer’s stock worth $18,507,000 after acquiring an additional 571 shares during the last quarter. Patron Partners LLC raised its position in Home Depot by 2.0% during the fourth quarter. Patron Partners LLC now owns 4,002 shares of the home improvement retailer’s stock worth $1,264,000 after acquiring an additional 77 shares during the last quarter. Natixis Advisors L.P. raised its position in Home Depot by 16.4% during the fourth quarter. Natixis Advisors L.P. now owns 563,677 shares of the home improvement retailer’s stock worth $178,043,000 after acquiring an additional 79,372 shares during the last quarter. Finally, Beacon Capital Management LLC raised its position in Home Depot by 4.5% during the fourth quarter. Beacon Capital Management LLC now owns 1,445 shares of the home improvement retailer’s stock worth $456,000 after acquiring an additional 62 shares during the last quarter. Institutional investors and hedge funds own 68.31% of the company’s stock.

Wall Street Analyst Weigh In

HD has been the subject of a number of research reports. Bank of America cut their target price on shares of Home Depot from $360.00 to $346.00 in a research report on Wednesday, February 22nd. DA Davidson cut their price objective on shares of Home Depot from $334.00 to $306.00 and set a “neutral” rating for the company in a research report on Wednesday, February 22nd. Oppenheimer cut their price objective on shares of Home Depot from $470.00 to $400.00 and set an “outperform” rating for the company in a research report on Friday, February 17th. Robert W. Baird cut their price objective on shares of Home Depot from $360.00 to $340.00 and set an “outperform” rating for the company in a research report on Tuesday, February 21st. 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 research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $329.89.

Home Depot Price Performance

Shares of HD stock opened at $293.77 on Wednesday. The company has a market capitalization of $297.49 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 1.67 and a beta of 0.93. The firm has a fifty day simple moving average of $299.53 and a 200-day simple moving average of $304.37. 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 twelve month low of $264.51 and a twelve month high of $347.25.

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

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 23rd. Investors of record on Thursday, March 9th were issued a $2.09 dividend. The ex-dividend date of this dividend was Wednesday, March 8th. This is a boost from Home Depot’s previous quarterly dividend of $1.90. This represents a $8.36 annualized dividend and a yield of 2.85%. Home Depot’s dividend payout ratio is currently 50.12%.

Home Depot Company 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.