New Century Financial Group LLC Purchases 1,354 Shares of The Home Depot, Inc. (NYSE:HD)

New Century Financial Group LLC boosted its position in The Home Depot, Inc. (NYSE:HD) by 173.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,133 shares of the home improvement retailer’s stock after purchasing an additional 1,354 shares during the quarter. New Century Financial Group LLC’s holdings in Home Depot were worth $734,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fairway Wealth LLC bought a new position in shares of Home Depot in the 2nd quarter worth about $25,000. Frank Rimerman Advisors LLC bought a new position in shares of Home Depot during the fourth quarter valued at approximately $27,000. Kings Path Partners LLC purchased a new stake in shares of Home Depot in the 2nd quarter worth approximately $33,000. A.P. Gilfoyle & Co. L.P. purchased a new position in Home Depot during the first quarter valued at $38,000. Finally, Livelsberger Financial Advisory purchased a new stake in shares of Home Depot in the fourth quarter worth $39,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Jefferies Financial Group started coverage on shares of Home Depot in a report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 target price for the company. Loop Capital lifted their price target on shares of Home Depot from $330.00 to $360.00 and gave the stock a “hold” rating in a research note on Tuesday, September 17th. Melius Research began coverage on Home Depot in a report on Monday, September 23rd. They set a “buy” rating and a $420.00 price target on the stock. Piper Sandler upped their price objective on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research report on Monday. Finally, JPMorgan Chase & Co. upped their price target on shares of Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus target price of $394.08.

Home Depot Trading Up 1.4 %

HD stock opened at $405.02 on Tuesday. The company has a market capitalization of $401.62 billion, a price-to-earnings ratio of 27.16, a PEG ratio of 2.71 and a beta of 1.00. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. The Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $405.31. The business has a 50 day simple moving average of $368.93 and a two-hundred day simple moving average of $355.11.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, beating the consensus estimate of $4.59 by $0.08. The company had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. Home Depot’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the company posted $4.65 earnings per share. Research analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were given a $2.25 dividend. The ex-dividend date was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.22%. Home Depot’s dividend payout ratio is currently 60.36%.

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.