Summit Global Investments Purchases 21,750 Shares of The Home Depot, Inc. (NYSE:HD)

Summit Global Investments raised its position in shares of The Home Depot, Inc. (NYSE:HD) by 579.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 25,502 shares of the home improvement retailer’s stock after buying an additional 21,750 shares during the quarter. Summit Global Investments’ holdings in Home Depot were worth $8,838,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Keener Financial Planning LLC bought a new stake in Home Depot during the fourth quarter valued at $31,000. PFG Private Wealth Management LLC raised its holdings in shares of Home Depot by 53.3% during the fourth quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 32 shares during the period. Gilfoyle & Co LLC acquired a new position in shares of Home Depot during the fourth quarter valued at about $35,000. Briaud Financial Planning Inc acquired a new position in shares of Home Depot during the third quarter valued at about $41,000. Finally, Quantbot Technologies LP acquired a new position in shares of Home Depot during the third quarter valued at about $64,000. Institutional investors own 70.86% of the company’s stock.

Home Depot Trading Up 0.9 %

NYSE:HD traded up $2.85 during trading hours on Thursday, reaching $334.82. The company’s stock had a trading volume of 1,725,017 shares, compared to its average volume of 3,320,278. The firm has a market capitalization of $331.81 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 2.23 and a beta of 1.01. The firm has a 50-day simple moving average of $363.04 and a 200-day simple moving average of $341.81. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $396.87. The company has a debt-to-equity ratio of 40.94, a quick ratio of 0.40 and a current ratio of 1.35.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.05. The company had revenue of $34.79 billion for the quarter, compared to analysts’ expectations of $34.64 billion. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The firm’s revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $3.30 EPS. Research analysts expect that The Home Depot, Inc. will post 15.37 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date was Wednesday, March 6th. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s dividend payout ratio (DPR) is 59.60%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Wedbush upped their price objective on shares of Home Depot from $380.00 to $410.00 and gave the company an “outperform” rating in a report on Monday, April 1st. Barclays upgraded shares of Home Depot from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $325.00 to $372.00 in a report on Thursday, January 4th. TD Cowen upped their target price on shares of Home Depot from $415.00 to $440.00 and gave the stock an “outperform” rating in a report on Monday, March 4th. Truist Financial restated a “buy” rating and issued a $417.00 target price on shares of Home Depot in a report on Wednesday, April 17th. Finally, Wells Fargo & Company upped their target price on shares of Home Depot from $385.00 to $400.00 and gave the stock an “overweight” rating in a report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and a consensus price target of $375.96.

Insiders Place Their Bets

In other news, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the sale, the chief executive officer now owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the sale, the chief executive officer now owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the sale, the executive vice president now directly owns 75,799 shares in the company, valued at approximately $27,950,123.26. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

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.