CANADA LIFE ASSURANCE Co Grows Position in The Home Depot, Inc. (NYSE:HD)

CANADA LIFE ASSURANCE Co boosted its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 8.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,461,874 shares of the home improvement retailer's stock after acquiring an additional 118,182 shares during the period. Home Depot accounts for 1.0% of CANADA LIFE ASSURANCE Co's holdings, making the stock its 14th biggest position. CANADA LIFE ASSURANCE Co owned about 0.15% of Home Depot worth $568,631,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Canada Pension Plan Investment Board grew its holdings in shares of Home Depot by 59.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,164,342 shares of the home improvement retailer's stock valued at $452,917,000 after purchasing an additional 431,840 shares during the last quarter. GKV Capital Management Co. Inc. bought a new position in shares of Home Depot during the fourth quarter worth about $778,000. Foster Dykema Cabot & Partners LLC raised its holdings in Home Depot by 20.8% during the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 1,134 shares of the home improvement retailer's stock worth $441,000 after purchasing an additional 195 shares during the last quarter. First Commonwealth Financial Corp PA boosted its stake 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 purchasing an additional 1,195 shares during the last quarter. Finally, Capital Square LLC grew its holdings in 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. Institutional investors and hedge funds own 70.86% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Piper Sandler lowered their price objective on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. Telsey Advisory Group restated an "outperform" rating and issued a $455.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. HSBC raised Home Depot from a "reduce" rating to a "hold" rating and raised their price objective for the company from $356.00 to $410.00 in a research note on Wednesday, February 26th. Gordon Haskett cut Home Depot from a "buy" rating to a "hold" rating in a report on Friday, April 4th. Finally, Hsbc Global Res raised shares of Home Depot from a "moderate sell" rating to a "hold" rating in a research note on Wednesday, February 26th. Ten equities 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 company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $434.08.

Home Depot Trading Down 3.0 %

Home Depot stock traded down $10.81 during mid-day trading on Monday, reaching $344.25. 1,137,453 shares of the company traded hands, compared to its average volume of 3,461,855. The firm's 50 day moving average price is $369.30 and its 200 day moving average price is $394.08. 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 current ratio of 1.13 and a quick ratio of 0.31. The firm has a market capitalization of $342.20 billion, a price-to-earnings ratio of 23.39, a P/E/G ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD - Get Free Report) last announced its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.09. The firm had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business's revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.82 EPS. On average, analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business 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 represents a $9.20 annualized dividend and a yield of 2.67%. This is an increase from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. Home Depot's payout ratio is 61.66%.

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.