UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Holdings in The Home Depot, Inc. (NYSE:HD)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of The Home Depot, Inc. (NYSE:HD) by 5.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 8,472,212 shares of the home improvement retailer’s stock after purchasing an additional 441,729 shares during the quarter. Home Depot makes up 0.8% of UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s portfolio, making the stock its 15th largest position. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Home Depot were worth $3,295,606,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in HD. Synergy Asset Management LLC bought a new stake in shares of Home Depot during the fourth quarter valued at about $26,000. Wingate Wealth Advisors Inc. purchased a new position in Home Depot during the fourth quarter valued at approximately $28,000. Navigoe LLC bought a new stake in Home Depot during the 4th quarter worth approximately $29,000. Bradley & Co. Private Wealth Management LLC bought a new stake in Home Depot during the 4th quarter worth approximately $32,000. Finally, Quarry LP lifted its stake in Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after purchasing an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Trading Down 0.5%

Shares of HD opened at $379.03 on Tuesday. The stock has a market capitalization of $376.77 billion, a P/E ratio of 25.75, a PEG ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The firm has a fifty day simple moving average of $358.40 and a two-hundred day simple moving average of $387.85.

Home Depot (NYSE:HD) last posted 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. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. 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. Home Depot’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a $2.30 dividend. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date was Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Gordon Haskett lowered shares of Home Depot from a “buy” rating to a “hold” rating in a research report on Friday, April 4th. Royal Bank of Canada reduced their target price 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. JPMorgan Chase & Co. lowered their price target on Home Depot from $470.00 to $410.00 and set an “overweight” rating on the stock in a report on Tuesday, May 6th. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and boosted their price objective for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. Finally, Piper Sandler lowered their target price on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Nine investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and an average target price of $430.32.

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.