Washington Trust Advisors Inc. Boosts Stock Position in The Home Depot, Inc. (NYSE:HD)

Washington Trust Advisors Inc. lifted its position in The Home Depot, Inc. (NYSE:HD) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,133 shares of the home improvement retailer’s stock after buying an additional 75 shares during the quarter. Washington Trust Advisors Inc.’s holdings in Home Depot were worth $2,775,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Synergy Asset Management LLC purchased a new stake in Home Depot during the 4th quarter worth about $26,000. Wingate Wealth Advisors Inc. purchased a new stake in Home Depot during the 4th quarter worth about $28,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in Home Depot during the 4th quarter worth about $32,000. NewSquare Capital LLC increased its holdings in Home Depot by 200.0% during the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock worth $40,000 after purchasing an additional 68 shares during the period. Finally, Legacy Investment Solutions LLC purchased a new stake in Home Depot during the 3rd quarter worth about $41,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

HD has been the topic of several recent research reports. Piper Sandler cut their price target on Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. JPMorgan Chase & Co. upped their price objective on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. Robert W. Baird lowered their price objective on Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company upped their price objective on Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Nine investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $436.50.

Home Depot Stock Performance

NYSE HD opened at $386.82 on Thursday. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. The company has a market capitalization of $384.25 billion, a P/E ratio of 26.28, a PEG ratio of 4.03 and a beta of 1.05. The business has a 50 day moving average price of $400.81 and a 200 day moving average price of $399.62. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. The firm had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. Home Depot’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.82 EPS. Sell-side analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is 61.66%.

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.