Princeton Capital Management LLC Raises Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Princeton Capital Management LLC increased its stake in shares of The Home Depot, Inc. (NYSE:HD) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,169 shares of the home improvement retailer’s stock after purchasing an additional 29 shares during the quarter. Princeton Capital Management LLC’s holdings in Home Depot were worth $455,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in HD. Synergy Asset Management LLC purchased a new stake in shares of Home Depot during the fourth quarter worth about $26,000. Wingate Wealth Advisors Inc. acquired a new stake in Home Depot during the fourth quarter worth approximately $28,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in Home Depot in the 4th quarter worth approximately $32,000. NewSquare Capital LLC raised its holdings in Home Depot by 200.0% in the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after acquiring an additional 68 shares during the last quarter. Finally, Legacy Investment Solutions LLC purchased a new position in shares of Home Depot during the 3rd quarter worth $41,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analyst Ratings Changes

HD has been the subject of a number of recent analyst reports. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and lifted their price objective for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. Piper Sandler dropped their price objective on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research note on Monday. Royal Bank of Canada decreased their target price on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 26th. Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Finally, Robert W. Baird cut their price target on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and an average target price of $435.85.

Home Depot Price Performance

Shares of HD stock opened at $363.97 on Tuesday. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. The company has a market capitalization of $361.55 billion, a PE ratio of 24.73, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The firm has a fifty day simple moving average of $393.46 and a 200-day simple moving average of $399.16.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating 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 analysts’ expectations of $39.15 billion. During the same period in the prior year, the company posted $2.82 EPS. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. Equities research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend is Thursday, March 13th. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is 61.66%.

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.