NewEdge Wealth LLC Increases Stock Position in The Home Depot, Inc. (NYSE:HD)

NewEdge Wealth LLC raised its holdings in The Home Depot, Inc. (NYSE:HD) by 14.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 121,257 shares of the home improvement retailer’s stock after purchasing an additional 15,764 shares during the period. Home Depot accounts for approximately 1.1% of NewEdge Wealth LLC’s portfolio, making the stock its 15th largest holding. NewEdge Wealth LLC’s holdings in Home Depot were worth $42,022,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Morgan Stanley lifted its stake in shares of Home Depot by 10.0% during the fourth quarter. Morgan Stanley now owns 18,737,490 shares of the home improvement retailer’s stock valued at $5,918,425,000 after buying an additional 1,698,402 shares during the period. Northern Trust Corp raised its stake in Home Depot by 1.3% during the third quarter. Northern Trust Corp now owns 12,347,396 shares of the home improvement retailer’s stock worth $3,730,889,000 after purchasing an additional 153,141 shares during the period. Norges Bank purchased a new position in Home Depot during the fourth quarter worth approximately $3,740,875,000. Moneta Group Investment Advisors LLC raised its stake in Home Depot by 105,205.6% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 10,994,957 shares of the home improvement retailer’s stock worth $3,472,867,000 after purchasing an additional 10,984,516 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Home Depot by 14.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 10,729,735 shares of the home improvement retailer’s stock worth $3,211,731,000 after purchasing an additional 1,361,660 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Trading Down 1.3 %

Home Depot stock opened at $342.87 on Monday. The firm’s 50-day moving average is $369.91 and its 200-day moving average is $338.58. 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 1 year low of $274.26 and a 1 year high of $396.87. The company has a market cap of $339.79 billion, a P/E ratio of 22.71, a PEG ratio of 2.28 and a beta of 0.98.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.05. The firm had revenue of $34.79 billion for the quarter, compared to the consensus estimate of $34.64 billion. Home Depot had a net margin of 9.92% and a return on equity of 1,339.65%. Home Depot’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period last year, the firm posted $3.30 EPS. On average, equities analysts expect that The Home Depot, Inc. will post 15.37 earnings per share for the current year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders 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 dividend on an annualized basis and a dividend 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%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on HD. Citigroup increased their price target 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. Truist Financial increased their price target on shares of Home Depot from $386.00 to $417.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Piper Sandler raised shares of Home Depot from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $311.00 to $400.00 in a research report on Tuesday, January 16th. Wells Fargo & Company increased their price objective on shares of Home Depot from $385.00 to $400.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th. Finally, Evercore ISI increased 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, April 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $376.35.

Insider Activity

In other Home Depot news, EVP Timothy A. Hourigan sold 8,996 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 75,799 shares in the company, valued at approximately $27,950,123.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $27,950,123.26. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.

Home Depot 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.