Canada Pension Plan Investment Board Buys 431,840 Shares of The Home Depot, Inc. (NYSE:HD)

Canada Pension Plan Investment Board grew its stake in shares of The Home Depot, Inc. (NYSE:HD) by 59.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 1,164,342 shares of the home improvement retailer’s stock after acquiring an additional 431,840 shares during the quarter. Canada Pension Plan Investment Board owned about 0.12% of Home Depot worth $452,917,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. GKV Capital Management Co. Inc. acquired a new position in Home Depot in the fourth quarter valued at about $778,000. Foster Dykema Cabot & Partners LLC increased its holdings in Home Depot by 20.8% in the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 1,134 shares of the home improvement retailer’s stock valued at $441,000 after buying an additional 195 shares during the period. First Commonwealth Financial Corp PA raised its position in shares of Home Depot by 27.5% in the 4th quarter. First Commonwealth Financial Corp PA now owns 5,543 shares of the home improvement retailer’s stock valued at $2,156,000 after buying an additional 1,195 shares in the last quarter. Capital Square LLC lifted its holdings in shares of Home Depot by 6.4% during the 4th quarter. Capital Square LLC now owns 8,802 shares of the home improvement retailer’s stock worth $3,649,000 after acquiring an additional 533 shares during the period. Finally, Demars Financial Group LLC lifted its holdings in shares of Home Depot by 38,509.9% during the 4th quarter. Demars Financial Group LLC now owns 540,924 shares of the home improvement retailer’s stock worth $210,414,000 after acquiring an additional 539,523 shares during the period. 70.86% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on HD shares. Wedbush restated an “outperform” rating and set a $440.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. 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 dropped their price objective on Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. JPMorgan Chase & Co. lifted their target price on Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Finally, KGI Securities raised Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Ten research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $434.08.

Home Depot Trading Down 2.2 %

NYSE:HD opened at $346.23 on Thursday. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The firm’s fifty day moving average is $371.71 and its 200-day moving average is $395.04. The firm has a market cap of $344.16 billion, a P/E ratio of 23.52, a P/E/G ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last issued its quarterly 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. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. During the same quarter in the prior year, the firm posted $2.82 earnings per share. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. Equities analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $2.30 dividend. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend was 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.