Groesbeck Investment Management Corp NJ Cuts Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Groesbeck Investment Management Corp NJ lessened its holdings in The Home Depot, Inc. (NYSE:HD) by 7.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,954 shares of the home improvement retailer’s stock after selling 154 shares during the quarter. Groesbeck Investment Management Corp NJ’s holdings in Home Depot were worth $677,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HD. BCK Partners Inc. purchased a new stake in Home Depot during the first quarter worth about $2,933,000. Fairfield Bush & CO. purchased a new stake in shares of Home Depot during the 1st quarter worth approximately $27,000. Ergoteles LLC purchased a new stake in shares of Home Depot during the 1st quarter worth approximately $1,554,000. Equitable Holdings Inc. grew its holdings in shares of Home Depot by 7.4% in the 1st quarter. Equitable Holdings Inc. now owns 14,628 shares of the home improvement retailer’s stock worth $4,379,000 after acquiring an additional 1,007 shares during the period. Finally, First Trust Advisors LP increased its stake in Home Depot by 3.2% in the 1st quarter. First Trust Advisors LP now owns 791,318 shares of the home improvement retailer’s stock valued at $236,865,000 after purchasing an additional 24,640 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Price Performance

HD opened at $332.89 on Friday. The company has a market capitalization of $329.90 billion, a P/E ratio of 22.05, a PEG ratio of 2.22 and a beta of 0.98. The Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $396.87. The company has a 50-day moving average of $367.92 and a 200-day moving average of $338.97. The company has a debt-to-equity ratio of 40.94, a quick ratio of 0.40 and a current ratio of 1.35.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.05. The firm had revenue of $34.79 billion for the quarter, compared to the consensus estimate of $34.64 billion. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.30 EPS. Equities analysts expect that The Home Depot, Inc. will post 15.37 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were given a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.70%. The ex-dividend date was Wednesday, March 6th. This is a boost from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s dividend payout ratio (DPR) is 59.60%.

Insider Activity

In related news, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the sale, the chief executive officer now directly owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the transaction, the chief executive officer now directly owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the completion of the sale, the executive vice president now owns 75,799 shares of the company’s stock, valued at approximately $27,950,123.26. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

HD has been the topic of several research reports. Bank of America upped their target price on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a report on Monday, April 1st. Royal Bank of Canada raised their target price on shares of Home Depot from $299.00 to $377.00 and gave the company a “sector perform” rating in a report on Monday, February 26th. Truist Financial restated a “buy” rating and issued a $417.00 price objective on shares of Home Depot in a research report on Wednesday. Zelman & Associates upgraded shares of Home Depot from a “neutral” rating to an “outperform” rating in a research report on Tuesday, April 2nd. Finally, Wedbush lifted their price target on Home Depot from $380.00 to $410.00 and gave the company an “outperform” rating in a report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $375.96.

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.