Bank of Nova Scotia Acquires 95,586 Shares of The Home Depot, Inc. (NYSE:HD)

Bank of Nova Scotia boosted its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 34.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 376,808 shares of the home improvement retailer's stock after buying an additional 95,586 shares during the period. Bank of Nova Scotia's holdings in Home Depot were worth $146,616,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Synergy Asset Management LLC acquired a new stake in shares of Home Depot in the 4th quarter worth about $26,000. Wingate Wealth Advisors Inc. bought a new stake in Home Depot during the 4th quarter worth approximately $28,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Home Depot in the fourth quarter worth approximately $32,000. Legacy Investment Solutions LLC bought a new position in shares of Home Depot in the third quarter valued at approximately $41,000. Finally, Marshall Investment Management LLC bought a new position in shares of Home Depot in the fourth quarter valued at approximately $41,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Stock Performance

Home Depot stock traded down $0.00 during mid-day trading on Friday, reaching $353.62. The company's stock had a trading volume of 3,574,295 shares, compared to its average volume of 3,489,908. The company has a market capitalization of $351.51 billion, a P/E ratio of 24.02, a PEG ratio of 4.03 and a beta of 1.09. The firm's fifty day moving average price is $375.29 and its two-hundred day moving average price is $395.97. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

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. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. During the same period in the previous year, the company posted $2.82 EPS. The firm's revenue for the quarter was up 14.1% compared to the same quarter last year. Sell-side analysts predict 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. Stockholders of record on Thursday, March 13th were given 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 dividend yield of 2.60%. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot's dividend payout ratio (DPR) is 61.66%.

Analyst Ratings Changes

A number of research firms recently commented on HD. Wells Fargo & Company increased their price target on Home Depot from $440.00 to $450.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Guggenheim reiterated a "buy" rating and issued a $450.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $455.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Piper Sandler dropped their target price on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. Finally, Hsbc Global Res raised Home Depot from a "moderate sell" rating to a "hold" rating in a report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company 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.