Main Street Financial Solutions LLC Cuts Position in The Home Depot, Inc. (NYSE:HD)

Main Street Financial Solutions LLC lessened its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 16.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,510 shares of the home improvement retailer's stock after selling 1,297 shares during the quarter. Main Street Financial Solutions LLC's holdings in Home Depot were worth $2,533,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Norges Bank purchased a new position in Home Depot during the 4th quarter valued at about $5,032,910,000. Raymond James Financial Inc. bought a new position in shares of Home Depot in the fourth quarter valued at approximately $2,212,546,000. Proficio Capital Partners LLC increased its holdings in Home Depot by 21,394.9% during the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer's stock worth $793,486,000 after acquiring an additional 2,030,372 shares during the period. Vanguard Group Inc. increased its holdings in Home Depot by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer's stock worth $37,251,142,000 after acquiring an additional 875,836 shares during the period. Finally, APG Asset Management N.V. lifted its stake in Home Depot by 559.5% in the 4th quarter. APG Asset Management N.V. now owns 1,032,082 shares of the home improvement retailer's stock worth $387,706,000 after purchasing an additional 875,591 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

Analyst Ratings Changes

HD has been the topic of several research analyst reports. Wells Fargo & Company upped their price target on shares of Home Depot from $440.00 to $450.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. KGI Securities raised Home Depot to a "strong-buy" rating in a report on Monday, March 3rd. Piper Sandler cut their price objective on Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a report on Monday, March 24th. Telsey Advisory Group restated an "outperform" rating and issued a $455.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Finally, Truist Financial dropped their target price on shares of Home Depot from $437.00 to $391.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. 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 company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $434.08.

Home Depot Trading Up 2.6 %

NYSE:HD traded up $8.86 during midday trading on Friday, reaching $354.85. 3,231,380 shares of the stock traded hands, compared to its average volume of 3,470,719. The stock has a market capitalization of $352.73 billion, a P/E ratio of 24.11, a PEG ratio of 4.03 and a beta of 1.09. 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 company has a fifty day moving average of $369.30 and a 200 day moving average of $394.08. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37.

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

Home Depot Increases Dividend

The company also recently disclosed 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. This represents a $9.20 annualized dividend and a yield of 2.59%. This is a boost from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot's payout ratio is presently 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.