Parallel Advisors LLC Increases Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Parallel Advisors LLC boosted its stake in The Home Depot, Inc. (NYSE:HD) by 5.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 29,035 shares of the home improvement retailer’s stock after buying an additional 1,461 shares during the quarter. Parallel Advisors LLC’s holdings in Home Depot were worth $9,995,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Frank Rimerman Advisors LLC purchased a new position in Home Depot in the fourth quarter worth $27,000. Kings Path Partners LLC purchased a new stake in Home Depot during the second quarter worth about $33,000. Burkett Financial Services LLC purchased a new stake in shares of Home Depot during the fourth quarter worth $38,000. A.P. Gilfoyle & Co. L.P. purchased a new position in shares of Home Depot in the first quarter valued at $38,000. Finally, Livelsberger Financial Advisory bought a new stake in shares of Home Depot during the 4th quarter valued at $39,000. 70.86% of the stock is currently owned by institutional investors.

Home Depot Price Performance

HD stock opened at $379.99 on Friday. The firm has a 50-day moving average of $361.04 and a 200 day moving average of $354.23. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. The company has a market cap of $377.44 billion, a P/E ratio of 25.49, a PEG ratio of 2.57 and a beta of 1.00. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $396.87.

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

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio is 60.36%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Daiwa America raised Home Depot to a “hold” rating in a report on Thursday, August 15th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $360.00 target price on shares of Home Depot in a research note on Thursday. Loop Capital dropped their target price on shares of Home Depot from $360.00 to $330.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. Truist Financial decreased their price target on shares of Home Depot from $396.00 to $395.00 and set a “buy” rating on the stock in a report on Wednesday, August 14th. Finally, Jefferies Financial Group initiated coverage on shares of Home Depot in a report on Tuesday, July 16th. They set a “buy” rating and a $426.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus price target of $387.79.

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.