New England Asset Management Inc. Raises Stock Holdings in The Home Depot, Inc. (NYSE:HD)

New England Asset Management Inc. increased its position in shares of The Home Depot, Inc. (NYSE:HD) by 0.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 12,064 shares of the home improvement retailer’s stock after acquiring an additional 85 shares during the period. New England Asset Management Inc.’s holdings in Home Depot were worth $4,888,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of HD. Fairway Wealth LLC acquired a new position in shares of Home Depot in the second quarter valued at approximately $25,000. Kings Path Partners LLC purchased a new position in Home Depot in the 2nd quarter valued at approximately $33,000. Denver PWM LLC acquired a new position in shares of Home Depot in the second quarter worth $40,000. Livelsberger Financial Advisory purchased a new stake in shares of Home Depot during the third quarter worth $46,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Home Depot in the second quarter valued at $47,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Stock Performance

Shares of NYSE HD opened at $410.44 on Tuesday. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.33. The stock’s fifty day moving average price is $400.41 and its two-hundred day moving average price is $367.33. The Home Depot, Inc. has a one year low of $302.34 and a one year high of $421.56. The firm has a market cap of $407.69 billion, a price-to-earnings ratio of 27.88, a P/E/G ratio of 2.84 and a beta of 1.01.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.64 by $0.14. The company had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter last year, the company posted $3.81 EPS. On average, equities analysts forecast that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Wednesday, November 27th. Home Depot’s dividend payout ratio is presently 61.14%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on HD shares. Mizuho increased their price target on Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Morgan Stanley raised their target price on shares of Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, October 21st. DA Davidson increased their price objective on shares of Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Truist Financial lifted their price objective on shares of Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Loop Capital raised Home Depot from a “hold” rating to a “buy” rating and increased their target price for the company from $360.00 to $460.00 in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $426.00.

Insider Activity at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 22,084 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the transaction, the executive vice president now owns 20,404 shares in the company, valued at approximately $8,343,399.64. This represents a 51.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.10% of the stock is owned by company insiders.

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.