Trust Investment Advisors Cuts Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Trust Investment Advisors lessened its position in The Home Depot, Inc. (NYSE:HD) by 4.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 5,388 shares of the home improvement retailer’s stock after selling 240 shares during the quarter. Home Depot makes up about 1.3% of Trust Investment Advisors’ portfolio, making the stock its 17th largest holding. Trust Investment Advisors’ holdings in Home Depot were worth $2,096,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Murphy & Mullick Capital Management Corp purchased a new position in Home Depot in the 4th quarter worth approximately $639,000. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Home Depot by 2.3% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 548,566 shares of the home improvement retailer’s stock valued at $213,387,000 after purchasing an additional 12,488 shares during the last quarter. Florida Financial Advisors LLC lifted its position in Home Depot by 1.9% during the fourth quarter. Florida Financial Advisors LLC now owns 4,829 shares of the home improvement retailer’s stock worth $1,878,000 after buying an additional 88 shares in the last quarter. Aire Advisors LLC lifted its position in Home Depot by 3.5% during the fourth quarter. Aire Advisors LLC now owns 3,047 shares of the home improvement retailer’s stock worth $1,185,000 after buying an additional 102 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its stake in Home Depot by 0.6% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 65,428 shares of the home improvement retailer’s stock worth $25,451,000 after buying an additional 387 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Stock Down 0.8 %

Home Depot stock opened at $360.90 on Wednesday. The firm has a market capitalization of $358.50 billion, a P/E ratio of 24.52, a P/E/G ratio of 4.03 and a beta of 1.09. 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 Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. The stock’s fifty day simple moving average is $392.82 and its 200-day simple moving average is $399.16.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.09. The company 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%. Home Depot’s revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.82 EPS. As a group, equities analysts expect 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 announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a $2.30 dividend. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. This represents a $9.20 annualized dividend and a yield of 2.55%. Home Depot’s dividend payout ratio (DPR) is 61.66%.

Wall Street Analyst Weigh In

HD has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised their target price on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Piper Sandler cut 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 report on Monday. Royal Bank of Canada decreased their target price on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. Guggenheim restated a “buy” rating and set a $450.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Finally, Hsbc Global Res raised shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $435.85.

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.