Granite Investment Partners LLC Purchases 2,634 Shares of The Home Depot, Inc. (NYSE:HD)

Granite Investment Partners LLC increased its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 22.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,564 shares of the home improvement retailer's stock after purchasing an additional 2,634 shares during the quarter. Granite Investment Partners LLC's holdings in Home Depot were worth $5,665,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Home Depot by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer's stock valued at $37,251,142,000 after buying an additional 875,836 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Home Depot by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer's stock worth $8,525,046,000 after purchasing an additional 257,036 shares in the last quarter. Norges Bank bought a new position in Home Depot during the 4th quarter valued at about $5,032,910,000. Fisher Asset Management LLC boosted its position in Home Depot by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 9,552,090 shares of the home improvement retailer's stock valued at $3,715,668,000 after buying an additional 125,441 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in Home Depot by 5.5% during the fourth quarter. Alliancebernstein L.P. now owns 9,052,091 shares of the home improvement retailer's stock worth $3,521,173,000 after buying an additional 468,203 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company's stock.

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Home Depot Stock Up 0.9 %

Shares of HD stock traded up $3.06 during trading hours on Monday, hitting $356.92. 2,841,813 shares of the company were exchanged, compared to its average volume of 3,487,085. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The business has a 50 day moving average of $374.14 and a two-hundred day moving average of $395.67. The company has a market capitalization of $354.79 billion, a PE ratio of 24.25, a PEG ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD - Get Free Report) last released its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.04 by $0.09. The firm had revenue of $39.70 billion during the quarter, compared to analysts' expectations 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 was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.82 EPS. Analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a dividend of $2.30 per share. The ex-dividend date was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.58%. This is an increase from Home Depot's previous quarterly dividend of $2.25. Home Depot's dividend payout ratio is 61.66%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Piper Sandler cut their target price 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. JPMorgan Chase & Co. lifted their price objective on Home Depot from $450.00 to $475.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. Guggenheim restated a "buy" rating and set a $450.00 target price on shares of Home Depot in a report on Wednesday, February 26th. KGI Securities raised Home Depot to a "strong-buy" rating in a report on Monday, March 3rd. Finally, Wedbush reissued an "outperform" rating and set a $440.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $434.08.

About Home Depot

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.