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

New Century Financial Group LLC increased its holdings in The Home Depot, Inc. (NYSE:HD) by 173.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,133 shares of the home improvement retailer’s stock after acquiring an additional 1,354 shares during the period. 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 also recently modified their holdings of the company. Fairway Wealth LLC purchased a new position in Home Depot in the second quarter valued at approximately $25,000. Frank Rimerman Advisors LLC purchased a new stake in Home Depot in the 4th quarter worth approximately $27,000. Kings Path Partners LLC purchased a new position in shares of Home Depot during the 2nd quarter valued at $33,000. A.P. Gilfoyle & Co. L.P. bought a new position in shares of Home Depot in the first quarter worth $38,000. Finally, Livelsberger Financial Advisory bought a new stake in Home Depot during the fourth quarter valued at $39,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Up 1.4 %

NYSE HD opened at $405.02 on Tuesday. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $405.31. The stock has a market capitalization of $401.62 billion, a PE 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 business’s 50-day moving average is $368.93 and its 200 day moving average is $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 (EPS) for the quarter, beating the consensus estimate of $4.59 by $0.08. The firm had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The business’s revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.65 earnings per share. Sell-side analysts forecast that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders 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 annualized dividend and a dividend yield of 2.22%. Home Depot’s dividend payout ratio is 60.36%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on HD. Telsey Advisory Group restated a “market perform” rating and issued a $360.00 target price on shares of Home Depot in a research note on Thursday, September 12th. Stifel Nicolaus lowered their target price on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. Piper Sandler boosted their price target on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research note on Monday. Daiwa America upgraded shares of Home Depot to a “hold” rating in a research report on Thursday, August 15th. Finally, Evercore ISI reduced their target price on Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and a consensus price target of $394.08.

Home Depot 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.