Lighthouse Investment Partners LLC Takes $2.55 Million Position in The Home Depot, Inc. (NYSE:HD)

Lighthouse Investment Partners LLC bought a new stake in The Home Depot, Inc. (NYSE:HD - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,552 shares of the home improvement retailer's stock, valued at approximately $2,549,000.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in Home Depot during the fourth quarter worth $5,032,910,000. Raymond James Financial Inc. bought a new stake in Home Depot during the fourth quarter worth $2,212,546,000. Proficio Capital Partners LLC lifted its holdings in Home Depot by 21,394.9% during the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer's stock worth $793,486,000 after acquiring an additional 2,030,372 shares during the period. Northern Trust Corp lifted its holdings in Home Depot by 13.3% during the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock worth $4,726,186,000 after acquiring an additional 1,424,857 shares during the period. Finally, Castlekeep Investment Advisors LLC bought a new stake in Home Depot during the fourth quarter worth $471,189,000. Institutional investors own 70.86% of the company's stock.

Home Depot Price Performance

NYSE:HD opened at $373.66 on Wednesday. The firm has a market capitalization of $371.43 billion, a price-to-earnings ratio of 25.38, a P/E/G ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. The stock has a fifty day moving average of $357.86 and a 200 day moving average of $388.40. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 452.60% and a net margin of 9.45%. The firm's quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the company earned $2.82 earnings per share. On average, research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $9.20 annualized dividend and a yield of 2.46%. This is a positive change from Home Depot's previous quarterly dividend of $2.25. Home Depot's payout ratio is 61.66%.

Analyst Ratings Changes

A number of analysts recently commented on HD shares. Truist Financial lifted their price target on Home Depot from $391.00 to $393.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. Royal Bank of Canada decreased their target price on 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. KGI Securities raised Home Depot to a "strong-buy" rating in a research report on Monday, March 3rd. Gordon Haskett downgraded Home Depot from a "buy" rating to a "hold" rating in a research report on Friday, April 4th. Finally, HSBC raised Home Depot from a "reduce" rating to a "hold" rating and raised their target price for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Home Depot presently has an average rating of "Moderate Buy" and an average target price of $430.32.

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.

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