Bowen Hanes & Co. Inc. Has $81.25 Million Stake in The Home Depot, Inc. (NYSE:HD)

Bowen Hanes & Co. Inc. cut its position in The Home Depot, Inc. (NYSE:HD) by 0.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 208,880 shares of the home improvement retailer’s stock after selling 1,050 shares during the quarter. Home Depot comprises 2.2% of Bowen Hanes & Co. Inc.’s portfolio, making the stock its 11th biggest holding. Bowen Hanes & Co. Inc.’s holdings in Home Depot were worth $81,252,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC grew 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 acquiring an additional 433,126 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Home Depot by 1.3% in the 4th quarter. Fisher Asset Management LLC now owns 9,552,090 shares of the home improvement retailer’s stock valued at $3,715,668,000 after purchasing an additional 125,441 shares in the last quarter. FMR LLC grew its holdings in shares of Home Depot by 10.1% during the 3rd quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after purchasing an additional 795,438 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Home Depot by 5.4% during the 3rd 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 worth $3,253,952,000 after purchasing an additional 409,890 shares in the last quarter. Finally, Amundi lifted its stake in Home Depot by 8.6% in the 4th quarter. Amundi now owns 7,554,880 shares of the home improvement retailer’s stock valued at $2,925,498,000 after purchasing an additional 599,490 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Home Depot Trading Down 0.9 %

NYSE HD opened at $364.82 on Thursday. 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 business has a fifty day simple moving average of $399.01 and a 200 day simple moving average of $399.78. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37. The firm has a market capitalization of $362.39 billion, a P/E ratio of 24.78, a PEG ratio of 4.03 and a beta of 1.09.

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

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, March 13th. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.52%. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Truist Financial reduced their price target on Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Guggenheim reaffirmed a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and lifted their target price for the stock from $356.00 to $410.00 in a research note on Wednesday, February 26th. Hsbc Global Res raised shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. Finally, Royal Bank of Canada lowered their price objective on Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 26th. Nine investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $436.50.

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.