Tocqueville Asset Management L.P. Decreases Holdings in The Home Depot, Inc. (NYSE:HD)

Tocqueville Asset Management L.P. reduced its stake in The Home Depot, Inc. (NYSE:HD) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 925,910 shares of the home improvement retailer’s stock after selling 16,412 shares during the quarter. Home Depot makes up approximately 5.7% of Tocqueville Asset Management L.P.’s investment portfolio, making the stock its biggest position. Tocqueville Asset Management L.P.’s holdings in Home Depot were worth $360,170,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Synergy Asset Management LLC bought a new position in Home Depot in the 4th quarter worth $26,000. Wingate Wealth Advisors Inc. bought a new position in Home Depot in the 4th quarter worth $28,000. Bradley & Co. Private Wealth Management LLC bought a new position in Home Depot in the 4th quarter worth $32,000. NewSquare Capital LLC raised its holdings in 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 position in Home Depot in the 3rd quarter worth $41,000. 70.86% of the stock is owned by institutional investors.

Home Depot Stock Up 1.1 %

Shares of NYSE HD opened at $351.16 on Monday. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The company has a market cap of $348.83 billion, a P/E ratio of 23.86, a PEG ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. The firm has a 50-day simple moving average of $397.43 and a two-hundred day simple moving average of $399.63.

Home Depot (NYSE:HD) last announced its quarterly earnings data 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. The business had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.82 earnings per share. Research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share 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 paid a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend is Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio is currently 61.66%.

Wall Street Analysts Forecast Growth

HD has been the subject of a number of analyst reports. HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and increased their price target for the stock from $356.00 to $410.00 in a research note on Wednesday, February 26th. Wedbush reiterated an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Robert W. Baird cut their price target on Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Finally, Piper Sandler cut their price target on Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Nine investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $436.50.

Home Depot 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.