Clearbridge Investments LLC Sells 143,281 Shares of The Home Depot, Inc. (NYSE:HD)

Clearbridge Investments LLC lessened its position in shares of The Home Depot, Inc. (NYSE:HD) by 9.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,377,496 shares of the home improvement retailer’s stock after selling 143,281 shares during the period. Clearbridge Investments LLC owned approximately 0.14% of Home Depot worth $535,832,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in HD. Synergy Asset Management LLC acquired a new stake in Home Depot during the fourth quarter worth about $26,000. Wingate Wealth Advisors Inc. acquired a new position in Home Depot during the fourth quarter valued at approximately $28,000. Bradley & Co. Private Wealth Management LLC bought a new stake in Home Depot during the fourth quarter worth $32,000. Legacy Investment Solutions LLC acquired a new stake in shares of Home Depot in the 3rd quarter valued at $41,000. Finally, Marshall Investment Management LLC bought a new position in shares of Home Depot in the 4th quarter valued at $41,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on HD shares. Royal Bank of Canada reduced their price objective on 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. Wedbush reaffirmed an “outperform” rating and set a $440.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Truist Financial dropped their price objective on shares of 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 target price on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Finally, Wells Fargo & Company upped their price target on shares of Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $435.85.

Home Depot Trading Down 1.3 %

NYSE:HD opened at $357.86 on Friday. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37. 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 firm’s 50 day moving average is $389.98 and its 200 day moving average is $398.80. The stock has a market capitalization of $355.72 billion, a PE ratio of 24.31, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.09. The firm had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business’s revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.82 earnings per share. Sell-side analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date was Thursday, March 13th. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

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.