Patten Group Inc. Sells 216 Shares of The Home Depot, Inc. (NYSE:HD)

Patten Group Inc. cut its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 8.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,413 shares of the home improvement retailer’s stock after selling 216 shares during the period. Patten Group Inc.’s holdings in Home Depot were worth $939,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. SYM FINANCIAL Corp increased its position in Home Depot by 17.8% during the 3rd quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock valued at $777,000 after buying an additional 289 shares in the last quarter. Wealth Group Ltd. purchased a new position in shares of Home Depot during the third quarter worth $217,000. Swedbank AB lifted its holdings in shares of Home Depot by 17.1% in the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after buying an additional 132,967 shares during the period. Optas LLC lifted its holdings in Home Depot by 14.3% in the third quarter. Optas LLC now owns 2,076 shares of the home improvement retailer’s stock valued at $841,000 after acquiring an additional 260 shares during the period. Finally, Private Wealth Partners LLC boosted its position in Home Depot by 3.2% in the 3rd quarter. Private Wealth Partners LLC now owns 43,941 shares of the home improvement retailer’s stock worth $17,805,000 after purchasing an additional 1,374 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on HD shares. Robert W. Baird decreased their target price 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. Telsey Advisory Group reissued an “outperform” rating and set a $455.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Wedbush restated an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Truist Financial lowered their price target on Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Finally, Evercore ISI boosted their price objective on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Nine research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $436.50.

Home Depot Stock Performance

NYSE:HD opened at $389.03 on Tuesday. The company’s 50-day moving average is $401.29 and its two-hundred day moving average is $399.57. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The firm has a market capitalization of $386.45 billion, a price-to-earnings ratio of 26.43, a PEG ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. During the same period in the prior year, the business posted $2.82 earnings per share. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. Analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a $2.30 dividend. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.36%. The ex-dividend date is Thursday, March 13th. Home Depot’s payout ratio is 61.66%.

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.