Modern Wealth Management LLC Raises Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Modern Wealth Management LLC boosted its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 18.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,245 shares of the home improvement retailer's stock after acquiring an additional 2,190 shares during the period. Modern Wealth Management LLC's holdings in Home Depot were worth $5,897,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. SYM FINANCIAL Corp boosted its stake in shares of Home Depot by 17.8% in the 3rd quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer's stock valued at $777,000 after purchasing an additional 289 shares in the last quarter. Principal Financial Group Inc. boosted its position in Home Depot by 10.7% during the third quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer's stock valued at $596,140,000 after buying an additional 141,915 shares during the period. United Bank grew its stake in shares of Home Depot by 4.2% during the third quarter. United Bank now owns 4,458 shares of the home improvement retailer's stock valued at $1,806,000 after buying an additional 181 shares during the last quarter. Algert Global LLC purchased a new position in shares of Home Depot in the third quarter worth about $649,000. Finally, Centaurus Financial Inc. lifted its stake in shares of Home Depot by 0.8% in the 3rd quarter. Centaurus Financial Inc. now owns 4,453 shares of the home improvement retailer's stock valued at $1,805,000 after acquiring an additional 35 shares during the last quarter. Institutional investors own 70.86% of the company's stock.

Remove Ads

Home Depot Stock Up 0.0 %

Shares of Home Depot stock traded up $0.02 during midday trading on Thursday, hitting $362.15. The company had a trading volume of 1,100,825 shares, compared to its average volume of 3,210,549. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. 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 stock has a market capitalization of $359.75 billion, a P/E ratio of 24.63, a P/E/G ratio of 4.03 and a beta of 1.09. The company has a 50 day moving average of $391.94 and a 200 day moving average of $398.90.

Home Depot (NYSE:HD - Get Free Report) last released its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping analysts' consensus estimates of $3.04 by $0.09. The firm had revenue of $39.70 billion for the quarter, compared to analysts' expectations of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company's quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.82 earnings per share. On average, equities analysts predict 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. Shareholders of record on Thursday, March 13th will be issued a $2.30 dividend. The ex-dividend date is Thursday, March 13th. This is a boost from Home Depot's previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.54%. Home Depot's payout ratio is 61.66%.

Wall Street Analyst Weigh In

HD has been the topic of several recent research reports. Wedbush restated an "outperform" rating and set a $440.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Robert W. Baird cut their target price on shares of Home Depot from $440.00 to $430.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. Wells Fargo & Company upped their price target 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. Telsey Advisory Group reissued an "outperform" rating and issued a $455.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Finally, Piper Sandler lowered their price objective on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a research note on Monday. Nine analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus 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.