Burling Wealth Partners LLC Makes New Investment in The Home Depot, Inc. (NYSE:HD)

Burling Wealth Partners LLC purchased a new stake in The Home Depot, Inc. (NYSE:HD - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,114 shares of the home improvement retailer's stock, valued at approximately $3,934,000.

Other institutional investors have also made changes to their positions in the company. Synergy Asset Management LLC bought a new position in Home Depot during the fourth quarter worth about $26,000. Wingate Wealth Advisors Inc. bought a new position in shares of Home Depot during the 4th quarter valued at about $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Home Depot in the 4th quarter valued at approximately $32,000. Marshall Investment Management LLC bought a new stake in Home Depot during the 4th quarter worth approximately $41,000. Finally, Sellwood Investment Partners LLC acquired a new stake in Home Depot during the 4th quarter worth approximately $39,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Robert W. Baird lowered their price objective on shares of Home Depot from $440.00 to $430.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. JPMorgan Chase & Co. increased their target price on Home Depot from $450.00 to $475.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Piper Sandler reduced their price objective on Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. Wells Fargo & Company lifted their target price on Home Depot from $440.00 to $450.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Finally, KGI Securities raised Home Depot to a "strong-buy" rating in a research report on Monday, March 3rd. Ten research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $434.08.

Home Depot Stock Performance

Shares of HD stock opened at $357.03 on Thursday. The company has a market capitalization of $354.90 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 4.03 and a beta of 1.09. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The company has a 50-day simple moving average of $365.88 and a 200 day simple moving average of $393.13.

Home Depot (NYSE:HD - Get Free Report) last posted its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating the consensus estimate of $3.04 by $0.09. The company had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm's revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.82 earnings per share. On average, sell-side analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a $2.30 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This is an increase from Home Depot's previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.58%. Home Depot's dividend payout ratio is 61.66%.

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.

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