IQ EQ FUND MANAGEMENT IRELAND Ltd Reduces Holdings in The Home Depot, Inc. (NYSE:HD)

IQ EQ FUND MANAGEMENT IRELAND Ltd lowered its position in The Home Depot, Inc. (NYSE:HD) by 10.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,111 shares of the home improvement retailer’s stock after selling 1,997 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Home Depot were worth $6,656,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Synergy Asset Management LLC bought a new position in shares of Home Depot during the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Home Depot during the fourth quarter worth $28,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Home Depot during the fourth quarter valued at $32,000. Sellwood Investment Partners LLC bought a new position in shares of Home Depot in the fourth quarter worth about $39,000. Finally, NewSquare Capital LLC lifted its holdings in Home Depot by 200.0% during the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after buying an additional 68 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Truist Financial reduced their target price on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Telsey Advisory Group reiterated an “outperform” rating and issued a $455.00 target price on shares of Home Depot in a report on Wednesday, February 26th. HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and lifted their price objective for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. Royal Bank of Canada cut 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 research report on Wednesday, February 26th. Finally, Robert W. Baird cut their price objective on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $435.85.

Home Depot Stock Up 0.3 %

Shares of HD stock opened at $362.01 on Thursday. 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 Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. The firm has a market capitalization of $359.61 billion, a PE ratio of 24.59, a P/E/G ratio of 4.03 and a beta of 1.09. The stock’s 50-day simple moving average is $391.94 and its 200-day simple moving average is $398.90.

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. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. During the same quarter in the prior year, the company earned $2.82 EPS. Home Depot’s quarterly revenue was up 14.1% on a year-over-year basis. Equities analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a dividend of $2.30 per share. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.54%. The ex-dividend date is Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

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.