Potentia Wealth Makes New $550,000 Investment in The Home Depot, Inc. (NYSE:HD)

Potentia Wealth acquired a new stake in The Home Depot, Inc. (NYSE:HD) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 1,413 shares of the home improvement retailer’s stock, valued at approximately $550,000.

A number of other hedge funds have also modified their holdings of HD. Vanguard Group Inc. lifted its holdings in shares of Home Depot by 0.9% during the fourth 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 period. Geode Capital Management LLC boosted its position in 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 in the last quarter. Fisher Asset Management LLC grew its stake in Home Depot by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 9,552,090 shares of the home improvement retailer’s stock worth $3,715,668,000 after buying an additional 125,441 shares during the last quarter. FMR LLC increased its holdings in shares of Home Depot by 10.1% during the third quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock worth $3,516,827,000 after buying an additional 795,438 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised 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 acquiring an additional 409,890 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Price Performance

Shares of NYSE HD opened at $363.97 on Tuesday. The company has a fifty day moving average price of $393.46 and a 200 day moving average price of $399.16. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. The firm has a market cap of $361.55 billion, a PE ratio of 24.73, a PEG ratio of 4.03 and a beta of 1.09. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

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

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $2.30 dividend. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. This represents a $9.20 annualized dividend and a yield of 2.53%. Home Depot’s dividend payout ratio is currently 61.66%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on HD shares. Robert W. Baird dropped their price target on Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Wedbush restated an “outperform” rating and issued a $440.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Piper Sandler reduced their price target on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research report on Monday. Wells Fargo & Company raised their price objective on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Finally, Royal Bank of Canada reduced 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. Nine analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $435.85.

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.