Advisors Capital Management LLC Purchases 6,528 Shares of The Home Depot, Inc. (NYSE:HD)

Advisors Capital Management LLC increased its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 5.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 122,134 shares of the home improvement retailer's stock after acquiring an additional 6,528 shares during the period. Advisors Capital Management LLC's holdings in Home Depot were worth $47,509,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of HD. Synergy Asset Management LLC purchased a new stake in shares of Home Depot during the 4th quarter valued at $26,000. Wingate Wealth Advisors Inc. bought a new position in Home Depot in the fourth quarter valued at $28,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in Home Depot during the fourth quarter valued at about $32,000. Sellwood Investment Partners LLC bought a new stake in Home Depot during the fourth quarter worth about $39,000. Finally, NewSquare Capital LLC boosted its holdings in shares of Home Depot by 200.0% in 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 in the last quarter. Institutional investors own 70.86% of the company's stock.

Home Depot Stock Up 0.9 %

Shares of NYSE HD traded up $3.06 on Monday, reaching $356.92. 2,841,813 shares of the company's stock traded hands, compared to its average volume of 3,487,086. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The business's 50 day simple moving average is $374.14 and its two-hundred day simple moving average is $395.67. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37. The company has a market cap of $354.79 billion, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09.

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Home Depot (NYSE:HD - Get Free Report) last released its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping the consensus estimate of $3.04 by $0.09. The business had revenue of $39.70 billion for 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%. The company's revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.82 earnings per share. As a group, equities research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a $2.30 dividend. 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 2.58%. The ex-dividend date was Thursday, March 13th. Home Depot's payout ratio is presently 61.66%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HD. Hsbc Global Res raised Home Depot from a "moderate sell" rating to a "hold" rating in a report on Wednesday, February 26th. Wedbush reaffirmed an "outperform" rating and set a $440.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Piper Sandler cut their price target on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. KGI Securities raised Home Depot to a "strong-buy" rating in a research note on Monday, March 3rd. Finally, Royal Bank of Canada lowered their target price on Home Depot from $431.00 to $424.00 and set a "sector perform" rating for the company in a research note on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Home Depot currently has a consensus rating of "Moderate Buy" and an average target price of $434.08.

Home Depot Company 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.