Horst & Graben Wealth Management LLC bought a new position in shares of The Home Depot, Inc. (NYSE:HD – Free Report) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 598 shares of the home improvement retailer’s stock, valued at approximately $207,000.
A number of other hedge funds have also recently bought and sold shares of the company. Graypoint LLC increased its stake in Home Depot by 5.6% in the 4th quarter. Graypoint LLC now owns 13,502 shares of the home improvement retailer’s stock worth $4,679,000 after purchasing an additional 716 shares in the last quarter. Saxony Capital Management LLC purchased a new position in Home Depot in the 4th quarter worth about $423,000. Ingalls & Snyder LLC increased its stake in Home Depot by 10.9% in the 4th quarter. Ingalls & Snyder LLC now owns 79,977 shares of the home improvement retailer’s stock worth $27,716,000 after purchasing an additional 7,833 shares in the last quarter. ORG Partners LLC increased its stake in Home Depot by 3.9% in the 4th quarter. ORG Partners LLC now owns 6,105 shares of the home improvement retailer’s stock worth $2,118,000 after purchasing an additional 229 shares in the last quarter. Finally, Seascape Capital Management increased its stake in Home Depot by 28.6% in the 4th quarter. Seascape Capital Management now owns 1,256 shares of the home improvement retailer’s stock worth $435,000 after purchasing an additional 279 shares in the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on the company. StockNews.com raised Home Depot from a “hold” rating to a “buy” rating in a research note on Monday, April 8th. DA Davidson reissued a “neutral” rating and issued a $370.00 price target on shares of Home Depot in a research note on Monday, April 1st. Piper Sandler raised Home Depot from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $311.00 to $400.00 in a research note on Tuesday, January 16th. Bank of America raised their price objective on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Finally, Truist Financial raised their price objective on Home Depot from $386.00 to $417.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $376.35.
Read Our Latest Report on HD
Home Depot Stock Performance
HD opened at $342.87 on Monday. The stock’s 50 day simple moving average is $369.91 and its 200-day simple moving average is $338.58. The company has a current ratio of 1.35, a quick ratio of 0.40 and a debt-to-equity ratio of 40.94. The stock has a market cap of $339.79 billion, a PE ratio of 22.71, a P/E/G ratio of 2.28 and a beta of 0.98. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $396.87.
Home Depot (NYSE:HD – Get Free Report) last announced its quarterly 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. The business had revenue of $34.79 billion for the quarter, compared to analyst estimates of $34.64 billion. Home Depot had a return on equity of 1,339.65% and a net margin of 9.92%. Home Depot’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.30 EPS. Sell-side analysts forecast that The Home Depot, Inc. will post 15.37 EPS for the current year.
Home Depot Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were paid a $2.25 dividend. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $9.00 dividend on an annualized basis and a yield of 2.62%. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s payout ratio is currently 59.60%.
Insiders Place Their Bets
In other news, EVP Timothy A. Hourigan sold 8,996 shares of the company’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 transaction, the executive vice president now owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Timothy A. Hourigan sold 8,996 shares of the company’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 transaction, the executive vice president now owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction, the chief executive officer now directly owns 107,731 shares in the company, valued at approximately $39,712,878.53. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.
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.
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