Cantor Fitzgerald Investment Advisors L.P. Increases Stake in The Home Depot, Inc. (NYSE:HD)

Cantor Fitzgerald Investment Advisors L.P. increased its stake in The Home Depot, Inc. (NYSE:HD) by 1.5% in the first quarter, Holdings Channel reports. The firm owned 15,635 shares of the home improvement retailer’s stock after purchasing an additional 232 shares during the period. Cantor Fitzgerald Investment Advisors L.P.’s holdings in Home Depot were worth $5,730,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new position in Home Depot during the 4th quarter worth approximately $5,032,910,000. GAMMA Investing LLC boosted its holdings in Home Depot by 39,194.1% in the first quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer’s stock valued at $37,517,230,000 after purchasing an additional 10,210,851 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Home Depot during the 4th quarter worth about $2,212,546,000. Proficio Capital Partners LLC raised its stake in shares of Home Depot by 21,394.9% during 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 buying an additional 2,030,372 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Home Depot by 13.3% during the 4th quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock valued at $4,726,186,000 after buying an additional 1,424,857 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Trading Down 0.7%

Shares of HD stock opened at $346.41 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 5.95. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37. The company’s 50-day moving average price is $362.72 and its 200-day moving average price is $380.63. The stock has a market cap of $344.65 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 3.30 and a beta of 1.02.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). The firm had revenue of $39.86 billion for the quarter, compared to analysts’ expectations of $39.24 billion. Home Depot had a return on equity of 242.51% and a net margin of 8.98%. Home Depot’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the firm earned $3.63 earnings per share. As a group, equities analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were given a $2.30 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 annualized dividend and a yield of 2.66%. Home Depot’s payout ratio is 62.42%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on HD shares. DA Davidson lowered their target price on Home Depot from $470.00 to $450.00 in a research note on Tuesday, May 20th. Wedbush reissued an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Stifel Nicolaus raised shares of Home Depot from a “hold” rating to a “buy” rating and raised their price objective for the stock from $405.00 to $425.00 in a research note on Wednesday, May 21st. Truist Financial lifted their target price on shares of Home Depot from $393.00 to $417.00 and gave the company a “buy” rating in a report on Tuesday, May 20th. Finally, Mizuho lowered their price target on shares of Home Depot from $450.00 to $435.00 and set an “outperform” rating on the stock in a report on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and an average price target of $426.77.

Insiders Place Their Bets

In other news, EVP Fahim Siddiqui sold 2,600 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total value of $954,564.00. Following the transaction, the executive vice president now directly owns 7,951 shares in the company, valued at approximately $2,919,130.14. This represents a 24.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the business’s stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total value of $1,996,327.68. Following the completion of the sale, the executive vice president now directly owns 17,367 shares in the company, valued at approximately $6,413,285.76. The trade was a 23.74% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

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.