First Trust Direct Indexing L.P. Has $8.74 Million Stock Position in The Home Depot, Inc. (NYSE:HD)

First Trust Direct Indexing L.P. raised its stake in shares of The Home Depot, Inc. (NYSE:HD) by 15.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,209 shares of the home improvement retailer’s stock after purchasing an additional 3,287 shares during the quarter. Home Depot accounts for 0.8% of First Trust Direct Indexing L.P.’s portfolio, making the stock its 14th largest holding. First Trust Direct Indexing L.P.’s holdings in Home Depot were worth $8,736,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Northern Trust Corp boosted its holdings in shares of Home Depot by 1.3% in the 3rd quarter. Northern Trust Corp now owns 12,347,396 shares of the home improvement retailer’s stock worth $3,730,889,000 after acquiring an additional 153,141 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Home Depot by 12,647.4% in the 4th quarter. International Assets Investment Management LLC now owns 5,569,482 shares of the home improvement retailer’s stock worth $1,930,104,000 after acquiring an additional 5,525,791 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of Home Depot by 38.4% in the 4th quarter. Jennison Associates LLC now owns 4,347,596 shares of the home improvement retailer’s stock worth $1,506,659,000 after acquiring an additional 1,207,388 shares in the last quarter. California Public Employees Retirement System boosted its holdings in shares of Home Depot by 11.3% in the 3rd quarter. California Public Employees Retirement System now owns 3,418,400 shares of the home improvement retailer’s stock worth $1,032,904,000 after acquiring an additional 346,641 shares in the last quarter. Finally, Stifel Financial Corp boosted its holdings in shares of Home Depot by 0.7% in the 3rd quarter. Stifel Financial Corp now owns 2,483,454 shares of the home improvement retailer’s stock worth $750,448,000 after acquiring an additional 17,224 shares in the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the transaction, the chief executive officer now directly owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Timothy A. Hourigan sold 8,996 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total value of $3,317,185.04. Following the completion of the transaction, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at approximately $27,950,123.26. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the transaction, the chief executive officer now owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Home Depot Trading Down 0.7 %

Shares of HD traded down $2.25 during trading hours on Wednesday, reaching $331.97. The stock had a trading volume of 3,184,581 shares, compared to its average volume of 3,340,787. The company has a quick ratio of 0.40, a current ratio of 1.35 and a debt-to-equity ratio of 40.94. The Home Depot, Inc. has a 52 week low of $274.26 and a 52 week high of $396.87. The firm has a 50-day moving average of $363.69 and a 200 day moving average of $341.88. The company has a market cap of $328.99 billion, a P/E ratio of 21.91, a P/E/G ratio of 2.24 and a beta of 0.98.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.05. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The business had revenue of $34.79 billion during the quarter, compared to analysts’ expectations of $34.64 billion. During the same quarter in the prior year, the company earned $3.30 EPS. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. On average, sell-side analysts expect that The Home Depot, Inc. will post 15.37 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were paid a $2.25 dividend. The ex-dividend date was Wednesday, March 6th. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 dividend on an annualized basis and a yield of 2.71%. Home Depot’s dividend payout ratio is presently 59.60%.

Analyst Ratings Changes

Several research analysts have recently commented on HD shares. Royal Bank of Canada boosted their target price on Home Depot from $299.00 to $377.00 and gave the stock a “sector perform” rating in a report on Monday, February 26th. Truist Financial restated a “buy” rating and issued a $417.00 price objective on shares of Home Depot in a research report on Wednesday, April 17th. TD Cowen boosted their price objective on shares of Home Depot from $415.00 to $440.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. Guggenheim restated a “buy” rating and issued a $390.00 price objective on shares of Home Depot in a research report on Friday, April 5th. Finally, DA Davidson restated a “neutral” rating and issued a $370.00 price objective on shares of Home Depot in a research report on Monday, April 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $375.96.

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.