Echo45 Advisors LLC Sells 38 Shares of The Home Depot, Inc. (NYSE:HD)

Echo45 Advisors LLC lessened its position in The Home Depot, Inc. (NYSE:HD) by 4.0% during the third quarter, Holdings Channel reports. The fund owned 902 shares of the home improvement retailer’s stock after selling 38 shares during the period. Echo45 Advisors LLC’s holdings in Home Depot were worth $364,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in HD. Texas Capital Bank Wealth Management Services Inc boosted its position in Home Depot by 27.6% during the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock valued at $9,348,000 after buying an additional 5,879 shares during the period. Empirical Finance LLC boosted its position in Home Depot by 3.3% during the first quarter. Empirical Finance LLC now owns 37,127 shares of the home improvement retailer’s stock valued at $14,242,000 after buying an additional 1,195 shares during the period. Pegasus Asset Management Inc. boosted its position in Home Depot by 1.8% during the third quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock valued at $2,024,000 after buying an additional 86 shares during the period. Commonwealth Retirement Investments LLC boosted its holdings in shares of Home Depot by 5.5% during the first quarter. Commonwealth Retirement Investments LLC now owns 18,628 shares of the home improvement retailer’s stock worth $7,146,000 after purchasing an additional 965 shares during the period. Finally, Swedbank AB boosted its holdings in shares of 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 during the period. Institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

HD has been the subject of a number of analyst reports. Evercore ISI dropped their target price on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Loop Capital upgraded shares of Home Depot from a “hold” rating to a “buy” rating and increased their target price for the stock from $360.00 to $460.00 in a report on Wednesday, October 9th. Telsey Advisory Group reiterated a “market perform” rating and set a $360.00 target price on shares of Home Depot in a report on Thursday, September 12th. Piper Sandler increased their target price on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Finally, Truist Financial increased their target price on shares of Home Depot from $395.00 to $455.00 and gave the stock a “buy” rating in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $413.48.

Home Depot Price Performance

Shares of NYSE HD opened at $393.80 on Friday. The Home Depot, Inc. has a fifty-two week low of $281.61 and a fifty-two week high of $421.56. The company has a 50 day simple moving average of $392.17 and a two-hundred day simple moving average of $361.25. The company has a market capitalization of $390.50 billion, a price-to-earnings ratio of 26.41, a P/E/G ratio of 2.78 and a beta of 1.00. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, beating the consensus estimate of $4.59 by $0.08. The company had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the firm earned $4.65 earnings per share. Analysts expect that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is currently 60.36%.

About Home Depot

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.