Fingerlakes Wealth Management Inc. Boosts Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Fingerlakes Wealth Management Inc. grew its position in The Home Depot, Inc. (NYSE:HD) by 3.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,129 shares of the home improvement retailer’s stock after acquiring an additional 110 shares during the quarter. Home Depot comprises 1.2% of Fingerlakes Wealth Management Inc.’s investment portfolio, making the stock its 29th largest holding. Fingerlakes Wealth Management Inc.’s holdings in Home Depot were worth $1,084,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. VisionPoint Advisory Group LLC bought a new stake in shares of Home Depot in the 2nd quarter valued at about $26,000. Fairfield Bush & CO. acquired a new stake in Home Depot in the 1st quarter worth approximately $27,000. KB Financial Partners LLC acquired a new stake in Home Depot in the 1st quarter worth approximately $28,000. Keener Financial Planning LLC acquired a new stake in Home Depot in the 4th quarter worth approximately $31,000. Finally, PFG Private Wealth Management LLC boosted its stake in Home Depot by 53.3% in the 4th 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 in the last quarter. 70.86% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were 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 approximately $39,712,878.53. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Home Depot news, EVP Timothy A. Hourigan sold 8,996 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of 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. Corporate insiders own 0.19% of the company’s stock.

Home Depot Trading Down 1.3 %

Shares of HD opened at $342.87 on Friday. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $396.87. 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 firm’s fifty day moving average is $369.91 and its two-hundred day moving average is $338.08. The stock has a market cap of $339.79 billion, a PE ratio of 22.71, a price-to-earnings-growth ratio of 2.31 and a beta of 0.98.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.05. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The company had revenue of $34.79 billion for the quarter, compared to analysts’ expectations of $34.64 billion. During the same quarter in the previous year, the company posted $3.30 EPS. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. Research analysts forecast that The Home Depot, Inc. will post 15.37 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.62%. The ex-dividend date was Wednesday, March 6th. This is a boost from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s payout ratio is 59.60%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on HD shares. Citigroup lifted their target price on shares of Home Depot from $333.00 to $415.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Stifel Nicolaus raised their price target on shares of Home Depot from $355.00 to $366.00 and gave the stock a “hold” rating in a research report on Friday, February 16th. Oppenheimer lowered shares of Home Depot from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. Evercore ISI raised their price target on shares of Home Depot from $420.00 to $425.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 2nd. Finally, Robert W. Baird reissued an “outperform” rating and set a $370.00 price target on shares of Home Depot in a research report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $376.35.

Home Depot Company 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.