The Home Depot, Inc. (NYSE:HD) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lessened its stake in The Home Depot, Inc. (NYSE:HD) by 81.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,593 shares of the home improvement retailer’s stock after selling 43,481 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Home Depot were worth $3,732,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. K.J. Harrison & Partners Inc increased its holdings in Home Depot by 65.2% in the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock valued at $3,535,000 after buying an additional 3,590 shares in the last quarter. Ashton Thomas Private Wealth LLC increased its stake in shares of Home Depot by 19.5% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock valued at $9,242,000 after purchasing an additional 3,873 shares in the last quarter. Pensionfund Sabic raised its holdings in Home Depot by 51.4% in the 4th quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock worth $4,357,000 after purchasing an additional 3,800 shares during the period. Swedbank AB boosted its position in Home Depot by 17.1% during the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after purchasing an additional 132,967 shares in the last quarter. Finally, Wedmont Private Capital grew its holdings in Home Depot by 12.5% in the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock valued at $5,291,000 after purchasing an additional 1,506 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on HD shares. KGI Securities upgraded Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Telsey Advisory Group reiterated an “outperform” rating and issued a $455.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Guggenheim restated a “buy” rating and set a $450.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Wells Fargo & Company lifted their price objective on Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Finally, Truist Financial reduced their target price on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Nine 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Stock Performance

Shares of HD stock opened at $354.06 on Tuesday. 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 firm has a market cap of $351.71 billion, a P/E ratio of 24.05, a P/E/G ratio of 4.03 and a beta of 1.09. The firm’s 50 day moving average price is $396.73 and its 200-day moving average price is $399.54. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping the consensus estimate of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. During the same period last year, the business posted $2.82 earnings per share. The company’s quarterly revenue was up 14.1% on a year-over-year basis. As a group, equities research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a $2.30 dividend. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s payout ratio is currently 61.66%.

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.