Pinion Investment Advisors LLC Cuts Stake in The Home Depot, Inc. (NYSE:HD)

Pinion Investment Advisors LLC cut its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,715 shares of the home improvement retailer’s stock after selling 35 shares during the quarter. Pinion Investment Advisors LLC’s holdings in Home Depot were worth $1,056,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Synergy Asset Management LLC purchased a new stake in Home Depot during the fourth quarter valued at about $26,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Home Depot in the 4th quarter valued at about $28,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in Home Depot during the 4th quarter valued at about $32,000. Legacy Investment Solutions LLC bought a new position in Home Depot during the 3rd quarter worth approximately $41,000. Finally, Marshall Investment Management LLC purchased a new position in Home Depot in the 4th quarter worth approximately $41,000. 70.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HD has been the topic of several recent analyst reports. Bank of America raised their target price on shares of Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Truist Financial decreased their price objective 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. Royal Bank of Canada dropped their target price on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a report on Wednesday, February 26th. Wedbush restated an “outperform” rating and set a $440.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Finally, Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Trading Down 1.9 %

NYSE HD opened at $389.03 on Tuesday. 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 stock’s fifty day moving average price is $401.29 and its 200-day moving average price is $399.57. The stock has a market cap of $386.45 billion, a P/E ratio of 26.43, a P/E/G ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last announced its quarterly earnings data 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 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%. Home Depot’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.82 EPS. As a group, equities analysts forecast that The Home Depot, Inc. will post 15.13 EPS 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. Investors of record on Thursday, March 13th will be given a $2.30 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.36%. Home Depot’s dividend payout ratio is 61.66%.

Home Depot 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.