Congress Wealth Management LLC DE Raises Position in The Home Depot, Inc. (NYSE:HD)

Congress Wealth Management LLC DE boosted its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 106,270 shares of the home improvement retailer's stock after purchasing an additional 2,160 shares during the period. Congress Wealth Management LLC DE's holdings in Home Depot were worth $41,338,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Clune & Associates LTD. acquired a new stake in Home Depot during the 4th quarter valued at approximately $221,000. Mountain Hill Investment Partners Corp. bought a new position in Home Depot during the fourth quarter worth $64,000. Horrell Capital Management Inc. lifted its holdings in Home Depot by 0.3% in the fourth quarter. Horrell Capital Management Inc. now owns 26,657 shares of the home improvement retailer's stock valued at $10,369,000 after buying an additional 76 shares during the period. Crowley Wealth Management Inc. bought a new stake in Home Depot during the fourth quarter valued at $4,433,000. Finally, Vanguard Group Inc. grew its holdings in Home Depot by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer's stock worth $37,251,142,000 after acquiring an additional 875,836 shares during the period. 70.86% of the stock is owned by institutional investors.

Home Depot Price Performance

HD traded up $0.83 during midday trading on Thursday, hitting $362.96. The stock had a trading volume of 3,035,092 shares, compared to its average volume of 3,220,848. The company has a market cap of $360.55 billion, a P/E ratio of 24.66, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. The business has a fifty day moving average of $391.01 and a 200 day moving average of $398.65. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Remove Ads

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. During the same period in the previous year, the firm posted $2.82 earnings per share. The firm's revenue for the quarter was up 14.1% on a year-over-year basis. As a group, equities analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a $2.30 dividend. This is a boost from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $9.20 annualized dividend and a dividend yield of 2.53%. Home Depot's dividend payout ratio (DPR) is currently 61.66%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wedbush reiterated an "outperform" rating and issued a $440.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Truist Financial reduced their price objective on Home Depot from $467.00 to $437.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Royal Bank of Canada lowered their price objective on Home Depot from $431.00 to $424.00 and set a "sector perform" rating for the company in a research note on Wednesday, February 26th. Guggenheim reaffirmed a "buy" rating and set a $450.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Finally, Wells Fargo & Company increased their target price on shares of Home Depot from $440.00 to $450.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Nine analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $435.85.

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.