The Home Depot, Inc. (NYSE:HD) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC reduced its position in The Home Depot, Inc. (NYSE:HD) by 1.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,783,614 shares of the home improvement retailer’s stock after selling 85,329 shares during the period. Home Depot comprises approximately 0.6% of Nuveen Asset Management LLC’s holdings, making the stock its 22nd biggest holding. Nuveen Asset Management LLC’s holdings in Home Depot were worth $2,249,768,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Home Depot by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock worth $37,251,142,000 after purchasing an additional 875,836 shares during the period. Geode Capital Management LLC boosted its position in Home Depot by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer’s stock worth $8,525,046,000 after purchasing an additional 257,036 shares during the period. Norges Bank purchased a new stake in Home Depot during the 4th quarter worth $5,032,910,000. Capital Research Global Investors increased its holdings in Home Depot by 5.5% in the 4th quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer’s stock valued at $4,845,098,000 after purchasing an additional 647,552 shares in the last quarter. Finally, Northern Trust Corp raised its position in Home Depot by 13.3% in the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock valued at $4,726,186,000 after purchasing an additional 1,424,857 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Stock Down 0.8%

HD stock opened at $373.66 on Wednesday. The firm has a market cap of $371.43 billion, a price-to-earnings ratio of 25.38, a PEG ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. The firm has a fifty day moving average price of $357.86 and a two-hundred day moving average price of $388.40. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

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

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a dividend of $2.30 per share. The ex-dividend date was 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 2.46%. Home Depot’s dividend payout ratio is 61.66%.

Wall Street Analyst Weigh In

HD has been the subject of several analyst reports. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $455.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Guggenheim reiterated a “buy” rating and set a $450.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. 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. Truist Financial lifted their price target on shares of Home Depot from $391.00 to $393.00 and gave the stock a “buy” rating in a research note on Tuesday, May 6th. Finally, Gordon Haskett downgraded Home Depot from a “buy” rating to a “hold” rating in a research note on Friday, April 4th. Ten investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $430.32.

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.