The Home Depot, Inc. (NYSE:HD) is Charter Research & Investment Group Inc.’s 8th Largest Position

Charter Research & Investment Group Inc. increased its stake in The Home Depot, Inc. (NYSE:HD) by 6.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,886 shares of the home improvement retailer’s stock after buying an additional 597 shares during the period. Home Depot comprises about 2.9% of Charter Research & Investment Group Inc.’s investment portfolio, making the stock its 8th largest position. Charter Research & Investment Group Inc.’s holdings in Home Depot were worth $3,846,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in HD. Synergy Asset Management LLC bought a new stake in shares of Home Depot in the 4th quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. acquired a new position in Home Depot in the fourth quarter worth $28,000. Bradley & Co. Private Wealth Management LLC bought a new stake in Home Depot during the fourth quarter valued at $32,000. Legacy Investment Solutions LLC acquired a new stake in shares of Home Depot during the third quarter worth $41,000. Finally, Marshall Investment Management LLC bought a new position in shares of Home Depot in the 4th quarter worth about $41,000. 70.86% of the stock is currently owned by institutional investors.

Home Depot Stock Performance

Shares of HD opened at $357.86 on Friday. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The firm’s 50 day moving average is $389.98 and its 200-day moving average is $398.80. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37. The stock has a market capitalization of $355.72 billion, a P/E ratio of 24.31, a P/E/G ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.09. The firm had revenue of $39.70 billion for 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 firm’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.82 earnings per share. Equities research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a $2.30 dividend. The ex-dividend date was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.57%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on HD shares. Royal Bank of Canada lowered their price objective on shares of 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. Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Piper Sandler cut their price target on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. Guggenheim restated a “buy” rating and set a $450.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Finally, Robert W. Baird cut their target price on 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 equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and an average price target of $435.85.

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.