KLP Kapitalforvaltning AS Buys Shares of 363,842 The Home Depot, Inc. (NYSE:HD)

KLP Kapitalforvaltning AS bought a new stake in The Home Depot, Inc. (NYSE:HD) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 363,842 shares of the home improvement retailer’s stock, valued at approximately $141,531,000. Home Depot accounts for approximately 0.7% of KLP Kapitalforvaltning AS’s investment portfolio, making the stock its 22nd biggest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. K.J. Harrison & Partners Inc increased its position in shares of Home Depot by 65.2% during the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock worth $3,535,000 after acquiring an additional 3,590 shares during the period. Ashton Thomas Private Wealth LLC grew its stake in shares of Home Depot by 19.5% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock worth $9,242,000 after purchasing an additional 3,873 shares in the last quarter. Pensionfund Sabic grew its stake in shares of Home Depot by 51.4% during the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock worth $4,357,000 after purchasing an additional 3,800 shares in the last quarter. Swedbank AB grew its stake in shares of Home Depot by 17.1% during the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after purchasing an additional 132,967 shares in the last quarter. Finally, Wedmont Private Capital grew its stake in shares of Home Depot by 12.5% during the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock worth $5,291,000 after purchasing an additional 1,506 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Truist Financial lowered their target price on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Piper Sandler decreased their price objective on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Wells Fargo & Company upped their price objective on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and upped their price objective for the company from $356.00 to $410.00 in a research note on Wednesday, February 26th. Finally, KGI Securities raised shares of Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. Nine analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Trading Down 1.0 %

Home Depot stock opened at $352.12 on Friday. 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 50-day moving average price of $393.97 and a two-hundred day moving average price of $398.66. The firm has a market capitalization of $349.78 billion, a price-to-earnings ratio of 23.92, a PEG ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37.

Home Depot (NYSE:HD) last issued its quarterly 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. The company 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 business’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.82 EPS. Sell-side analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a dividend of $2.30 per share. The ex-dividend date is 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 yield of 2.61%. Home Depot’s dividend payout ratio is currently 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.