ProVise Management Group LLC Sells 893 Shares of The Home Depot, Inc. (NYSE:HD)

ProVise Management Group LLC lowered its position in shares of The Home Depot, Inc. (NYSE:HD) by 23.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,921 shares of the home improvement retailer’s stock after selling 893 shares during the quarter. ProVise Management Group LLC’s holdings in Home Depot were worth $1,136,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in HD. Raymond James Financial Inc. bought a new position in shares of Home Depot during the 4th quarter worth about $2,212,546,000. Proficio Capital Partners LLC lifted its position in Home Depot by 21,394.9% in the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock valued at $793,486,000 after acquiring an additional 2,030,372 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Home Depot in the 3rd quarter valued at about $336,231,000. FMR LLC lifted its position in Home Depot by 10.1% in the 3rd quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after acquiring an additional 795,438 shares in the last quarter. Finally, Amundi lifted its position in Home Depot by 8.6% in the 4th quarter. Amundi now owns 7,554,880 shares of the home improvement retailer’s stock valued at $2,925,498,000 after acquiring an additional 599,490 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

Home Depot Stock Up 1.1 %

Shares of NYSE:HD opened at $353.35 on Thursday. The firm has a fifty day moving average price of $395.36 and a two-hundred day moving average price of $399.08. 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 Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The company has a market cap of $351.01 billion, a price-to-earnings ratio of 24.00, a PEG ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $39.15 billion. During the same period in the previous year, the firm posted $2.82 EPS. The firm’s revenue was up 14.1% compared to the same quarter last year. Analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a dividend of $2.30 per share. This is an increase 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 2.60%. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s payout ratio is currently 61.66%.

Wall Street Analysts Forecast Growth

HD has been the topic of several recent research reports. Wedbush reaffirmed an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Truist Financial dropped their price target on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. KGI Securities raised shares of Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Hsbc Global Res raised shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Nine research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.