Tortoise Investment Management LLC Has $1.44 Million Stake in The Home Depot, Inc. (NYSE:HD)

Tortoise Investment Management LLC raised its stake in shares of The Home Depot, Inc. (NYSE:HD) by 1.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,697 shares of the home improvement retailer’s stock after buying an additional 63 shares during the period. Tortoise Investment Management LLC’s holdings in Home Depot were worth $1,438,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Synergy Asset Management LLC purchased a new position in shares of Home Depot in the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Home Depot in the 4th quarter worth approximately $28,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Home Depot in the 4th quarter worth approximately $32,000. NewSquare Capital LLC raised its holdings in shares of Home Depot by 200.0% in the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock worth $40,000 after purchasing an additional 68 shares during the period. Finally, Legacy Investment Solutions LLC bought a new stake in shares of Home Depot in the 3rd quarter worth approximately $41,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Trading Down 1.3 %

NYSE:HD opened at $376.66 on Monday. The company’s 50 day moving average price is $400.21 and its 200-day moving average price is $400.02. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The stock has a market cap of $374.16 billion, a price-to-earnings ratio of 25.59, a PEG ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. During the same quarter last year, the company posted $2.82 earnings per share. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. On average, equities research analysts forecast 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. Investors of record on Thursday, March 13th will be issued a $2.30 dividend. The ex-dividend date is Thursday, March 13th. This represents a $9.20 annualized dividend and a yield of 2.44%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Truist Financial lowered their price target on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Robert W. Baird lowered their target price on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $455.00 price target on shares of Home Depot in a report on Wednesday, February 26th. JPMorgan Chase & Co. upped their price target on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, Hsbc Global Res raised shares of Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Nine investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $436.50.

About Home Depot

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.