Great Lakes Advisors LLC Trims Stock Holdings in The Home Depot, Inc. (NYSE:HD)
Great Lakes Advisors LLC lowered its position in shares of The Home Depot, Inc. (NYSE:HD) by 30.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 57,569 shares of the home improvement retailer’s stock after selling 25,124 shares during the quarter. Great Lakes Advisors LLC’s holdings in The Home Depot were worth $15,292,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in HD. Philadelphia Trust Co. lifted its holdings in shares of The Home Depot by 1.5% during the fourth quarter. Philadelphia Trust Co. now owns 5,427 shares of the home improvement retailer’s stock valued at $1,442,000 after purchasing an additional 80 shares during the last quarter. Fortis Capital Management LLC purchased a new position in The Home Depot during the fourth quarter valued at $231,000. Lumature Wealth Partners LLC bought a new stake in The Home Depot in the fourth quarter worth $383,000. VisionPoint Advisory Group LLC bought a new stake in The Home Depot in the fourth quarter worth $1,962,000. Finally, LifePro Asset Management purchased a new stake in shares of The Home Depot in the fourth quarter worth $375,000. 68.71% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently issued reports on the stock. Zelman & Associates upgraded shares of The Home Depot from a “hold” rating to a “buy” rating in a research note on Friday, February 12th. Wedbush downgraded The Home Depot from an “outperform” rating to a “neutral” rating in a research note on Wednesday, November 11th. Gordon Haskett raised The Home Depot from an “accumulate” rating to a “buy” rating and set a $315.00 target price for the company in a report on Thursday, November 12th. Morgan Stanley upped their price target on The Home Depot from $300.00 to $320.00 and gave the company an “overweight” rating in a report on Friday, December 4th. Finally, Telsey Advisory Group raised The Home Depot from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $300.00 to $315.00 in a research report on Monday, November 16th. Five investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $293.25.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 25th. Investors of record on Thursday, March 11th will be paid a dividend of $1.65 per share. This is an increase from The Home Depot’s previous quarterly dividend of $1.50. This represents a $6.60 dividend on an annualized basis and a dividend yield of 2.39%. The Home Depot’s payout ratio is 58.54%.
The Home Depot Company Profile
The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and dÃ©cor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
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