Prospect Financial Services LLC Invests $265,000 in The Home Depot, Inc. (NYSE:HD)

Prospect Financial Services LLC acquired a new stake in shares of The Home Depot, Inc. (NYSE:HD) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 653 shares of the home improvement retailer’s stock, valued at approximately $265,000.

Several other institutional investors have also bought and sold shares of HD. Legal & General Group Plc lifted its position in shares of Home Depot by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock valued at $2,931,328,000 after acquiring an additional 100,139 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Home Depot by 15.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock worth $2,853,143,000 after purchasing an additional 971,833 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Home Depot by 2.5% during the second quarter. Ameriprise Financial Inc. now owns 5,774,083 shares of the home improvement retailer’s stock valued at $1,980,883,000 after purchasing an additional 138,396 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Home Depot by 13.1% in the 1st quarter. Jennison Associates LLC now owns 4,917,286 shares of the home improvement retailer’s stock valued at $1,886,271,000 after purchasing an additional 569,690 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Home Depot by 7.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,643,176 shares of the home improvement retailer’s stock worth $1,598,316,000 after purchasing an additional 333,312 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Up 0.1 %

Shares of Home Depot stock opened at $415.84 on Wednesday. The Home Depot, Inc. has a 12-month low of $274.26 and a 12-month high of $421.56. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74. The stock has a 50 day moving average price of $380.90 and a two-hundred day moving average price of $357.37. The stock has a market capitalization of $412.35 billion, a P/E ratio of 27.89, a PEG ratio of 2.88 and a beta of 1.00.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.59 by $0.08. The business had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. Home Depot’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.65 EPS. Equities analysts expect that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors 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 dividend yield of 2.16%. Home Depot’s dividend payout ratio is presently 60.36%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Oppenheimer raised their target price on shares of Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a report on Tuesday, September 24th. UBS Group raised their price objective on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Guggenheim boosted their target price on shares of Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Piper Sandler increased their target price on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $360.00 price target on shares of Home Depot in a report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $404.69.

Home Depot 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.