Nearwater Capital Markets Ltd Invests $38.90 Million in The Home Depot, Inc. (NYSE:HD)

Nearwater Capital Markets Ltd purchased a new stake in The Home Depot, Inc. (NYSE:HD - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 100,000 shares of the home improvement retailer's stock, valued at approximately $38,899,000. Home Depot makes up about 1.1% of Nearwater Capital Markets Ltd's investment portfolio, making the stock its 21st biggest holding.

Several other large investors have also made changes to their positions in the company. Synergy Asset Management LLC bought a new position in Home Depot in the 4th quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Home Depot during the fourth quarter worth $28,000. Navigoe LLC acquired a new stake in Home Depot in the fourth quarter valued at $29,000. Bradley & Co. Private Wealth Management LLC bought a new position in Home Depot during the 4th quarter worth $32,000. Finally, Quarry LP raised its position in shares of Home Depot by 220.0% during the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock worth $37,000 after acquiring an additional 66 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on HD shares. Wells Fargo & Company lowered their price objective on shares of Home Depot from $445.00 to $420.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. JPMorgan Chase & Co. reduced their target price on Home Depot from $470.00 to $410.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Guggenheim reaffirmed a "buy" rating and set a $450.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. HSBC upgraded Home Depot from a "reduce" rating to a "hold" rating and boosted their price objective for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. Finally, Truist Financial increased their target price on Home Depot from $391.00 to $393.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. Ten analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $430.32.

Home Depot Stock Performance

NYSE:HD opened at $373.66 on Wednesday. The stock has a market cap of $371.43 billion, a P/E ratio of 25.38, a PEG ratio of 4.03 and a beta of 1.05. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The business's 50-day moving average price is $357.86 and its two-hundred day moving average price is $388.40. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37.

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, topping 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 the consensus estimate of $39.15 billion. During the same period in the previous year, the firm posted $2.82 EPS. The firm's revenue was up 14.1% compared to the same quarter last year. As a group, equities analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.46%. This is a positive change from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot's payout ratio is presently 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.

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