Pinnacle Financial Partners Inc Sells 617 Shares of The Home Depot, Inc. (NYSE:HD)

Pinnacle Financial Partners Inc lessened its position in shares of The Home Depot, Inc. (NYSE:HDFree Report) by 0.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 110,883 shares of the home improvement retailer’s stock after selling 617 shares during the period. Home Depot accounts for 0.9% of Pinnacle Financial Partners Inc’s holdings, making the stock its 21st biggest holding. Pinnacle Financial Partners Inc’s holdings in Home Depot were worth $38,427,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Harvest Investment Advisors LLC boosted its holdings in Home Depot by 0.8% during the third quarter. Harvest Investment Advisors LLC now owns 3,815 shares of the home improvement retailer’s stock worth $1,153,000 after purchasing an additional 30 shares during the last quarter. Armstrong Henry H Associates Inc. boosted its holdings in Home Depot by 0.3% during the fourth quarter. Armstrong Henry H Associates Inc. now owns 10,903 shares of the home improvement retailer’s stock worth $3,778,000 after purchasing an additional 30 shares during the last quarter. CGC Financial Services LLC boosted its holdings in Home Depot by 4.3% during the fourth quarter. CGC Financial Services LLC now owns 722 shares of the home improvement retailer’s stock worth $250,000 after purchasing an additional 30 shares during the last quarter. Independent Investors Inc. boosted its holdings in Home Depot by 0.5% during the fourth quarter. Independent Investors Inc. now owns 6,052 shares of the home improvement retailer’s stock worth $2,097,000 after purchasing an additional 30 shares during the last quarter. Finally, PFG Private Wealth Management LLC boosted its holdings in Home Depot by 53.3% during the fourth quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 32 shares during the last quarter. 70.86% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Citigroup lifted their price objective on shares of Home Depot from $333.00 to $415.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Mizuho assumed coverage on shares of Home Depot in a research report on Tuesday, March 19th. They issued a “buy” rating and a $415.00 price objective on the stock. Evercore ISI lifted their price objective on shares of Home Depot from $420.00 to $425.00 and gave the stock an “outperform” rating in a research report on Tuesday. HSBC lowered shares of Home Depot from a “hold” rating to a “reduce” rating and set a $323.00 price objective on the stock. in a research report on Wednesday, February 21st. Finally, Truist Financial boosted their price target on shares of Home Depot from $386.00 to $417.00 and gave the company a “buy” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and a consensus target price of $376.35.

Check Out Our Latest Report on HD

Insider Activity at Home Depot

In other Home Depot news, EVP Timothy A. Hourigan sold 8,996 shares of the firm’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 sale, the executive vice president now owns 75,799 shares of the company’s stock, valued at approximately $27,950,123.26. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of the firm’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 sale, the chief executive officer now owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Timothy A. Hourigan sold 8,996 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the completion of the sale, the executive vice president now directly owns 75,799 shares in the company, valued at approximately $27,950,123.26. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.

Home Depot Price Performance

HD stock opened at $363.00 on Wednesday. The company has a debt-to-equity ratio of 40.94, a quick ratio of 0.40 and a current ratio of 1.35. The Home Depot, Inc. has a 52 week low of $274.26 and a 52 week high of $396.87. The firm’s fifty day moving average is $369.63 and its 200 day moving average is $335.67. The firm has a market cap of $359.74 billion, a P/E ratio of 24.04, a P/E/G ratio of 2.53 and a beta of 0.98.

Home Depot (NYSE:HDGet Free Report) last released its earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, beating the consensus estimate of $2.77 by $0.05. Home Depot had a net margin of 9.92% and a return on equity of 1,339.65%. The company had revenue of $34.79 billion for the quarter, compared to analyst estimates of $34.64 billion. During the same quarter last year, the firm earned $3.30 EPS. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. Research analysts predict that The Home Depot, Inc. will post 15.39 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were issued a dividend of $2.25 per share. The ex-dividend date was Wednesday, March 6th. This represents a $9.00 annualized dividend and a dividend yield of 2.48%. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s dividend payout ratio (DPR) is currently 59.60%.

Home Depot Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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