The Home Depot, Inc. (NYSE:HD) Stock Position Lifted by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. lifted its holdings in The Home Depot, Inc. (NYSE:HD) by 22.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 39,429 shares of the home improvement retailer’s stock after purchasing an additional 7,168 shares during the quarter. Home Depot accounts for approximately 0.9% of First Trust Direct Indexing L.P.’s holdings, making the stock its 13th largest position. First Trust Direct Indexing L.P.’s holdings in Home Depot were worth $15,977,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Twin Peaks Wealth Advisors LLC bought a new position in Home Depot during the third quarter valued at about $253,000. Edge Financial Advisors LLC bought a new position in Home Depot during the third quarter valued at about $207,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in Home Depot by 2.0% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 254,540 shares of the home improvement retailer’s stock valued at $102,498,000 after buying an additional 4,998 shares in the last quarter. Highline Wealth Partners LLC bought a new position in Home Depot during the third quarter valued at about $2,405,000. Finally, WD Rutherford LLC boosted its stake in Home Depot by 4.5% during the third quarter. WD Rutherford LLC now owns 12,454 shares of the home improvement retailer’s stock valued at $5,046,000 after buying an additional 531 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

Home Depot Stock Up 0.3 %

HD opened at $393.80 on Friday. The Home Depot, Inc. has a fifty-two week low of $281.61 and a fifty-two week high of $421.56. The business has a 50-day moving average of $392.17 and a 200-day moving average of $361.25. 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 company has a market capitalization of $390.50 billion, a PE ratio of 26.41, a price-to-earnings-growth ratio of 2.78 and a beta of 1.00.

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

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio is 60.36%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Guggenheim raised their target price on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Stifel Nicolaus decreased their price target on Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. Piper Sandler increased their price target on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Oppenheimer increased their price target on Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research report on Tuesday, September 24th. Finally, Evercore ISI decreased their price target on Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $413.48.

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.