Parallel Advisors LLC Grows Position in The Home Depot, Inc. (NYSE:HD)

Parallel Advisors LLC grew its stake in shares of The Home Depot, Inc. (NYSE:HD) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,650 shares of the home improvement retailer’s stock after buying an additional 406 shares during the period. Parallel Advisors LLC’s holdings in Home Depot were worth $11,534,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Cibc World Markets Corp lifted its stake in shares of Home Depot by 6.8% during the fourth quarter. Cibc World Markets Corp now owns 298,124 shares of the home improvement retailer’s stock worth $115,967,000 after purchasing an additional 18,950 shares in the last quarter. Gray Wealth Management Inc. acquired a new position in shares of Home Depot in the fourth quarter worth about $228,000. IMG Wealth Management Inc. acquired a new position in shares of Home Depot in the fourth quarter worth about $152,000. GLOBALT Investments LLC GA lifted its stake in shares of Home Depot by 1.0% in the fourth quarter. GLOBALT Investments LLC GA now owns 10,518 shares of the home improvement retailer’s stock worth $4,091,000 after acquiring an additional 103 shares in the last quarter. Finally, Signature Wealth Management Group lifted its stake in shares of Home Depot by 3.1% in the fourth quarter. Signature Wealth Management Group now owns 14,409 shares of the home improvement retailer’s stock worth $5,605,000 after acquiring an additional 437 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

Shares of NYSE HD opened at $351.16 on Monday. The stock has a market cap of $348.83 billion, a P/E ratio of 23.86, a P/E/G ratio of 4.03 and a beta of 1.09. The firm’s 50-day simple moving average is $397.43 and its 200 day simple moving average is $399.63. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

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

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a dividend of $2.30 per share. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date is Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is presently 61.66%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Wells Fargo & Company boosted their price target on Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Truist Financial lowered their price objective on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Guggenheim restated a “buy” rating and set a $450.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Finally, KGI Securities upgraded Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Nine equities research 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $436.50.

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.