The Home Depot, Inc. (NYSE:HD) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lessened its stake in The Home Depot, Inc. (NYSE:HD) by 81.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 9,593 shares of the home improvement retailer’s stock after selling 43,481 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Home Depot were worth $3,732,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Avantax Advisory Services Inc. grew its stake in shares of Home Depot by 2.2% during the fourth quarter. Avantax Advisory Services Inc. now owns 100,052 shares of the home improvement retailer’s stock worth $38,919,000 after purchasing an additional 2,199 shares in the last quarter. Essential Planning LLC. acquired a new stake in shares of Home Depot during the 4th quarter worth about $1,624,000. Liberty Wealth Management LLC lifted its stake in Home Depot by 2.0% during the fourth quarter. Liberty Wealth Management LLC now owns 2,369 shares of the home improvement retailer’s stock worth $922,000 after purchasing an additional 46 shares during the last quarter. Great Lakes Advisors LLC boosted its holdings in Home Depot by 4.7% in the fourth quarter. Great Lakes Advisors LLC now owns 37,507 shares of the home improvement retailer’s stock valued at $14,590,000 after purchasing an additional 1,686 shares in the last quarter. Finally, Truvestments Capital LLC increased its stake in Home Depot by 6.7% in the fourth quarter. Truvestments Capital LLC now owns 7,893 shares of the home improvement retailer’s stock valued at $3,070,000 after purchasing an additional 499 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Stock Performance

NYSE:HD opened at $354.06 on Tuesday. 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 firm has a 50-day moving average price of $396.73 and a two-hundred day moving average price of $399.54. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. The company has a market capitalization of $351.71 billion, a P/E ratio of 24.05, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.09. The business 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 business’s revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.82 earnings per share. As a group, research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a dividend of $2.30 per share. The ex-dividend date is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.60%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is 61.66%.

Analyst Ratings Changes

Several brokerages have recently weighed in on HD. Piper Sandler reduced their price objective on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Robert W. Baird decreased their price objective on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Wedbush reiterated an “outperform” rating and set a $440.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and upped their target price for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. Finally, KGI Securities raised Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Nine equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Home Depot 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.