The Home Depot, Inc. (NYSE:HD) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC trimmed its stake in The Home Depot, Inc. (NYSE:HD) by 1.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,783,614 shares of the home improvement retailer’s stock after selling 85,329 shares during the period. Home Depot makes up 0.6% of Nuveen Asset Management LLC’s investment portfolio, making the stock its 22nd largest holding. Nuveen Asset Management LLC owned about 0.58% of Home Depot worth $2,249,768,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Wealth Group Ltd. grew its position in Home Depot by 5.0% during the 4th quarter. Wealth Group Ltd. now owns 563 shares of the home improvement retailer’s stock worth $219,000 after purchasing an additional 27 shares during the last quarter. RMR Wealth Builders raised its holdings in shares of Home Depot by 2.2% in the fourth quarter. RMR Wealth Builders now owns 11,429 shares of the home improvement retailer’s stock valued at $4,446,000 after buying an additional 246 shares during the last quarter. Abound Wealth Management boosted its stake in shares of Home Depot by 10.4% during the fourth quarter. Abound Wealth Management now owns 617 shares of the home improvement retailer’s stock worth $240,000 after buying an additional 58 shares during the period. Persium Advisors LLC purchased a new position in shares of Home Depot during the fourth quarter worth about $2,477,000. Finally, Heritage Wealth Partners LLC grew its holdings in shares of Home Depot by 4.2% during the fourth quarter. Heritage Wealth Partners LLC now owns 725 shares of the home improvement retailer’s stock worth $282,000 after buying an additional 29 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the company. Guggenheim reaffirmed a “buy” rating and set a $450.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Wells Fargo & Company dropped their target price on Home Depot from $445.00 to $420.00 and set an “overweight” rating on the stock in a report on Thursday, May 8th. Piper Sandler decreased their price target on Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Royal Bank of Canada dropped their price objective on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. Finally, Gordon Haskett downgraded shares of Home Depot from a “buy” rating to a “hold” rating in a research report on Friday, April 4th. Ten investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $430.32.

Home Depot Price Performance

Home Depot stock opened at $373.66 on Wednesday. The firm has a market capitalization of $371.43 billion, a PE ratio of 25.38, a P/E/G ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The firm’s 50-day simple moving average is $357.86 and its 200 day simple moving average is $388.40. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last announced 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 company had revenue of $39.70 billion during 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 firm’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.82 earnings per share. On average, equities research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.46%. This is a boost 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 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.