Tortoise Investment Management LLC Purchases 63 Shares of The Home Depot, Inc. (NYSE:HD)

Tortoise Investment Management LLC boosted its stake in The Home Depot, Inc. (NYSE:HD) by 1.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,697 shares of the home improvement retailer’s stock after purchasing an additional 63 shares during the quarter. Tortoise Investment Management LLC’s holdings in Home Depot were worth $1,438,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Synergy Asset Management LLC acquired a new position in Home Depot in the fourth quarter valued at about $26,000. Wingate Wealth Advisors Inc. acquired a new position in Home Depot in the fourth quarter valued at about $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in Home Depot in the fourth quarter valued at about $32,000. Legacy Investment Solutions LLC acquired a new position in Home Depot in the third quarter valued at about $41,000. Finally, Marshall Investment Management LLC acquired a new position in Home Depot in the fourth quarter valued at about $41,000. Institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on HD shares. Evercore ISI boosted their target price on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Mizuho upped their price objective on Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Bank of America upped their price objective on Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Guggenheim reaffirmed a “buy” rating and set a $450.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Nine investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and an average target price of $436.50.

Home Depot Stock Performance

HD stock opened at $376.66 on Monday. The stock has a 50-day moving average price of $400.21 and a 200-day moving average price of $400.02. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The firm has a market cap of $374.16 billion, a PE ratio of 25.59, a price-to-earnings-growth 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 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 firm had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. During the same period last year, the company posted $2.82 EPS. The business’s quarterly revenue was up 14.1% on a year-over-year basis. As a group, equities research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.44%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. Home Depot’s payout ratio is presently 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.