London Co. of Virginia Sells 5,480 Shares of The Home Depot, Inc. (NYSE:HD)

London Co. of Virginia cut its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 2.4% in the 4th quarter, Holdings Channel reports. The firm owned 220,503 shares of the home improvement retailer’s stock after selling 5,480 shares during the period. London Co. of Virginia’s holdings in Home Depot were worth $85,773,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Home Depot by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock valued at $37,251,142,000 after acquiring an additional 875,836 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Home Depot by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer’s stock valued at $8,525,046,000 after acquiring an additional 257,036 shares during the last quarter. Norges Bank bought a new position in shares of Home Depot in the 4th quarter valued at $5,032,910,000. Capital Research Global Investors lifted its stake in shares of Home Depot by 5.5% in the 4th quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer’s stock valued at $4,845,098,000 after acquiring an additional 647,552 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Home Depot by 13.3% in the 4th quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock valued at $4,726,186,000 after acquiring an additional 1,424,857 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors.

Home Depot Stock Performance

Shares of Home Depot stock opened at $362.55 on Monday. 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 business has a 50-day moving average price of $358.23 and a two-hundred day moving average price of $388.66. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. The company has a market cap of $360.39 billion, a P/E ratio of 24.63, a PEG ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating the consensus estimate 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%. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period last year, the business posted $2.82 EPS. As a group, analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a $2.30 dividend. The ex-dividend date was Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.54%. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

Analyst Ratings Changes

A number of brokerages have recently commented on HD. Royal Bank of Canada dropped their price target on Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. KGI Securities upgraded Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Robert W. Baird lowered their target price on Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Gordon Haskett lowered Home Depot from a “buy” rating to a “hold” rating in a research report on Friday, April 4th. Finally, Piper Sandler lowered their target price on Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. Ten analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and an average target price of $430.32.

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.