Fort Pitt Capital Group LLC Has $1.13 Million Stock Position in The Home Depot, Inc. (NYSE:HD)

Fort Pitt Capital Group LLC reduced its stake in shares of The Home Depot, Inc. (NYSE:HD) by 1.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,789 shares of the home improvement retailer’s stock after selling 50 shares during the quarter. Fort Pitt Capital Group LLC’s holdings in Home Depot were worth $1,130,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. WFA Asset Management Corp raised its position in shares of Home Depot by 10.7% in the 1st quarter. WFA Asset Management Corp now owns 1,394 shares of the home improvement retailer’s stock valued at $535,000 after acquiring an additional 135 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in Home Depot by 5.8% during the first quarter. China Universal Asset Management Co. Ltd. now owns 11,421 shares of the home improvement retailer’s stock worth $4,381,000 after purchasing an additional 623 shares during the last quarter. REDW Wealth LLC grew its position in Home Depot by 7.4% in the first quarter. REDW Wealth LLC now owns 963 shares of the home improvement retailer’s stock valued at $369,000 after purchasing an additional 66 shares in the last quarter. PDS Planning Inc boosted its stake in shares of Home Depot by 1.3% during the 1st quarter. PDS Planning Inc now owns 5,670 shares of the home improvement retailer’s stock worth $2,175,000 after buying an additional 71 shares during the last quarter. Finally, Hollencrest Capital Management grew its holdings in shares of Home Depot by 2,095.2% in the 1st quarter. Hollencrest Capital Management now owns 101,877 shares of the home improvement retailer’s stock valued at $39,080,000 after acquiring an additional 97,236 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

Shares of NYSE:HD opened at $392.59 on Monday. The stock has a market cap of $389.96 billion, a P/E ratio of 26.42, a P/E/G ratio of 2.73 and a beta of 1.01. The Home Depot, Inc. has a 12 month low of $286.79 and a 12 month high of $421.56. The company has a 50 day moving average of $392.51 and a 200 day moving average of $362.03. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. The business had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.65 EPS. As a group, sell-side analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 annualized dividend and a yield of 2.29%. Home Depot’s payout ratio is currently 60.57%.

Wall Street Analysts Forecast Growth

HD has been the subject of several analyst reports. Truist Financial raised their target price on shares of Home Depot from $395.00 to $455.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Royal Bank of Canada decreased their target price on Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 14th. Gordon Haskett upgraded shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective on the stock in a report on Wednesday, October 2nd. Daiwa America upgraded shares of Home Depot to a “hold” rating in a research note on Thursday, August 15th. Finally, Evercore ISI decreased their price objective on Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and an average price target of $413.48.

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.