Glenview Trust co Acquires 2,550 Shares of The Home Depot, Inc. (NYSE:HD)

Glenview Trust co increased its stake in shares of The Home Depot, Inc. (NYSE:HD) by 5.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,477 shares of the home improvement retailer’s stock after acquiring an additional 2,550 shares during the quarter. Glenview Trust co’s holdings in Home Depot were worth $18,079,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of HD. Synergy Asset Management LLC bought a new stake in shares of Home Depot during the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. acquired a new stake in Home Depot in the 4th quarter valued at $28,000. Bradley & Co. Private Wealth Management LLC bought a new stake in Home Depot during the 4th quarter valued at $32,000. NewSquare Capital LLC raised its holdings in Home Depot by 200.0% during the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock worth $40,000 after buying an additional 68 shares during the last quarter. Finally, Legacy Investment Solutions LLC bought a new position in shares of Home Depot in the third quarter valued at $41,000. 70.86% of the stock is owned by institutional investors.

Home Depot Trading Up 1.1 %

Shares of Home Depot stock opened at $351.16 on Friday. The stock has a market capitalization of $348.83 billion, a P/E ratio of 23.86, a P/E/G ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The stock’s 50-day simple moving average is $397.43 and its 200 day simple moving average is $399.44.

Home Depot (NYSE:HD) last posted its quarterly 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. The company had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.82 earnings per share. As a group, research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a $2.30 dividend. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date is Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is presently 61.66%.

Wall Street Analyst Weigh In

Several research firms have recently commented on HD. HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and boosted their target price for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. KGI Securities raised Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. Piper Sandler dropped their target price on Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. JPMorgan Chase & Co. upped their price target on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $455.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Nine equities research 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 stock. According to MarketBeat.com, 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.