ProVise Management Group LLC Has $1.14 Million Stock Position in The Home Depot, Inc. (NYSE:HD)

ProVise Management Group LLC reduced its position in The Home Depot, Inc. (NYSE:HD) by 23.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,921 shares of the home improvement retailer’s stock after selling 893 shares during the period. ProVise Management Group LLC’s holdings in Home Depot were worth $1,136,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Synergy Asset Management LLC bought a new stake in shares of Home Depot during the fourth quarter worth approximately $26,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Home Depot during the fourth quarter worth approximately $28,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Home Depot during the fourth quarter worth approximately $32,000. NewSquare Capital LLC boosted its stake in shares of Home Depot by 200.0% in the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after buying an additional 68 shares during the period. Finally, Legacy Investment Solutions LLC bought a new stake in shares of Home Depot in the third quarter valued at approximately $41,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Stock Performance

NYSE HD opened at $353.35 on Thursday. The company has a market capitalization of $351.01 billion, a price-to-earnings ratio of 24.00, a PEG ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. The stock has a fifty day simple moving average of $395.36 and a 200 day simple moving average of $399.08. 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 posted its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. The business had revenue of $39.70 billion during the quarter, compared to the consensus estimate 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 period in the prior year, the business posted $2.82 earnings per share. Sell-side 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 given a dividend of $2.30 per share. The ex-dividend date is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.60%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is 61.66%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on HD shares. KGI Securities upgraded Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Piper Sandler cut their price target on Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Guggenheim reiterated a “buy” rating and issued a $450.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Finally, Wedbush reiterated an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $436.50.

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.