Groesbeck Investment Management Corp NJ Has $541,000 Stock Position in The Home Depot, Inc. (NYSE:HD)

Groesbeck Investment Management Corp NJ lessened its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 28.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,336 shares of the home improvement retailer’s stock after selling 519 shares during the period. Groesbeck Investment Management Corp NJ’s holdings in Home Depot were worth $541,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Fairway Wealth LLC bought a new stake in shares of Home Depot in the 2nd quarter valued at about $25,000. Kings Path Partners LLC bought a new stake in Home Depot in the second quarter valued at approximately $33,000. Denver PWM LLC acquired a new stake in Home Depot during the 2nd quarter valued at approximately $40,000. Livelsberger Financial Advisory bought a new position in Home Depot during the 3rd quarter worth approximately $46,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Home Depot in the 2nd quarter worth approximately $47,000. Institutional investors own 70.86% of the company’s stock.

Home Depot Trading Down 0.9 %

NYSE HD opened at $398.91 on Monday. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74. The business has a fifty day simple moving average of $389.81 and a 200 day simple moving average of $360.04. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $421.56. The firm has a market capitalization of $396.23 billion, a P/E ratio of 26.84, a PEG ratio of 2.78 and a beta of 1.00.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The company had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. During the same period last year, the firm earned $4.65 earnings per share. The firm’s revenue was up .6% on a year-over-year basis. On average, analysts predict that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.26%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio is presently 60.57%.

Wall Street Analyst Weigh In

HD has been the subject of several recent analyst reports. DA Davidson increased their price objective on shares of Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research report on Friday. UBS Group increased their price target on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Truist Financial boosted their price objective on Home Depot from $395.00 to $455.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Melius Research started coverage on Home Depot in a research note on Monday, September 23rd. They set a “buy” rating and a $420.00 target price for the company. Finally, Sanford C. Bernstein started coverage on Home Depot in a research note on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 price target on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $412.00.

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.