Opulen Financial Group LLC Makes New Investment in The Home Depot, Inc. (NYSE:HD)

Opulen Financial Group LLC bought a new position in The Home Depot, Inc. (NYSE:HD) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 567 shares of the home improvement retailer’s stock, valued at approximately $220,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC increased its stake in shares of Home Depot by 2.0% in the third quarter. Geode Capital Management LLC now owns 21,700,427 shares of the home improvement retailer’s stock valued at $8,767,449,000 after buying an additional 433,126 shares during the period. Fisher Asset Management LLC increased its stake in shares of 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 during the period. FMR LLC increased its stake in shares of Home Depot by 10.1% in the third quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after buying an additional 795,438 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Home Depot by 5.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,030,483 shares of the home improvement retailer’s stock valued at $3,253,952,000 after buying an additional 409,890 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Home Depot in the fourth quarter valued at about $2,212,546,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Up 1.3 %

HD stock opened at $386.82 on Thursday. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The stock’s 50 day moving average is $400.81 and its 200-day moving average is $399.62. The firm has a market capitalization of $384.25 billion, a PE ratio of 26.28, a P/E/G ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. The company had revenue of $39.70 billion during 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 period last year, the business posted $2.82 earnings per share. Sell-side analysts expect that The Home Depot, Inc. will post 15.13 EPS 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. Shareholders of record on Thursday, March 13th will be given a $2.30 dividend. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on HD. Truist Financial decreased their price target on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Piper Sandler decreased their price target on Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Evercore ISI upped their target price on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Stifel Nicolaus upped their target price on Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Finally, HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and upped their target price for the company from $356.00 to $410.00 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $436.50.

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.