FineMark National Bank & Trust Has $34.61 Million Stake in The Home Depot, Inc. (NYSE:HD)

FineMark National Bank & Trust cut its stake in shares of The Home Depot, Inc. (NYSE:HD) by 3.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 88,969 shares of the home improvement retailer’s stock after selling 2,863 shares during the quarter. Home Depot makes up approximately 1.2% of FineMark National Bank & Trust’s portfolio, making the stock its 15th biggest position. FineMark National Bank & Trust’s holdings in Home Depot were worth $34,608,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in HD. Raymond James Financial Inc. acquired a new position in shares of Home Depot in the 4th quarter worth approximately $2,212,546,000. Proficio Capital Partners LLC increased its position in shares of Home Depot by 21,394.9% during the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock worth $793,486,000 after buying an additional 2,030,372 shares during the period. Vanguard Group Inc. raised its stake in Home Depot by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock worth $37,251,142,000 after buying an additional 875,836 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Home Depot in the third quarter valued at $336,231,000. Finally, FMR LLC boosted its position in Home Depot by 10.1% during the third quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after acquiring an additional 795,438 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Wedbush reissued an “outperform” rating and issued a $440.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Piper Sandler lowered their target price on Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a report on Monday. Truist Financial cut their price target on Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Robert W. Baird lowered 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. Finally, Guggenheim reissued a “buy” rating and set a $450.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $435.85.

Home Depot Trading Up 3.7 %

NYSE:HD opened at $363.97 on Tuesday. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The firm has a 50-day moving average price of $393.46 and a two-hundred day moving average price of $399.16. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The firm has a market cap of $361.55 billion, a price-to-earnings ratio of 24.73, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $39.15 billion. During the same period last year, the business posted $2.82 earnings per share. Home Depot’s revenue was up 14.1% on a year-over-year basis. On average, equities analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently declared 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 of this dividend is Thursday, March 13th. This represents a $9.20 annualized dividend and a yield of 2.53%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is presently 61.66%.

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.