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

Drive Wealth Management LLC raised its holdings in shares of The Home Depot, Inc. (NYSE:HDFree Report) by 1.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,083 shares of the home improvement retailer’s stock after purchasing an additional 74 shares during the period. Drive Wealth Management LLC’s holdings in Home Depot were worth $1,415,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Harvest Investment Advisors LLC grew its position in shares of Home Depot by 0.8% during the third quarter. Harvest Investment Advisors LLC now owns 3,815 shares of the home improvement retailer’s stock valued at $1,153,000 after purchasing an additional 30 shares in the last quarter. Armstrong Henry H Associates Inc. grew its position in Home Depot by 0.3% in the fourth quarter. Armstrong Henry H Associates Inc. now owns 10,903 shares of the home improvement retailer’s stock worth $3,778,000 after acquiring an additional 30 shares in the last quarter. CGC Financial Services LLC grew its position in Home Depot by 4.3% in the fourth quarter. CGC Financial Services LLC now owns 722 shares of the home improvement retailer’s stock worth $250,000 after acquiring an additional 30 shares in the last quarter. Independent Investors Inc. grew its position in Home Depot by 0.5% in the fourth quarter. Independent Investors Inc. now owns 6,052 shares of the home improvement retailer’s stock worth $2,097,000 after acquiring an additional 30 shares in the last quarter. Finally, PFG Private Wealth Management LLC grew its position in Home Depot by 53.3% in the fourth quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock worth $32,000 after acquiring an additional 32 shares in the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on HD shares. Stifel Nicolaus lifted their price target on Home Depot from $355.00 to $366.00 and gave the stock a “hold” rating in a research report on Friday, February 16th. DA Davidson reiterated a “neutral” rating and issued a $370.00 price target on shares of Home Depot in a research report on Monday. Robert W. Baird reiterated an “outperform” rating and issued a $370.00 price target on shares of Home Depot in a research report on Wednesday, February 14th. Piper Sandler upgraded Home Depot from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $311.00 to $400.00 in a research report on Tuesday, January 16th. Finally, Royal Bank of Canada boosted their target price on Home Depot from $299.00 to $377.00 and gave the company a “sector perform” rating in a research report on Monday, February 26th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and an average price target of $376.35.

Read Our Latest Report on HD

Home Depot Stock Performance

Home Depot stock opened at $363.00 on Wednesday. The company has a market capitalization of $359.74 billion, a PE ratio of 24.04, a P/E/G ratio of 2.43 and a beta of 0.98. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $396.87. 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 company has a 50 day moving average price of $369.63 and a 200-day moving average price of $335.67.

Home Depot (NYSE:HDGet Free Report) last issued its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.05. The company had revenue of $34.79 billion during 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 1,452.22%. Home Depot’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.30 earnings per share. As a group, equities analysts forecast that The Home Depot, Inc. will post 15.38 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were paid a $2.25 dividend. This is an increase from Home Depot’s previous quarterly dividend of $2.09. The ex-dividend date was Wednesday, March 6th. This represents a $9.00 dividend on an annualized basis and a yield of 2.48%. Home Depot’s payout ratio is 59.60%.

Insider Buying and Selling

In related 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 transaction, the chief executive officer now owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Timothy A. Hourigan sold 8,996 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the transaction, the chief executive officer now directly owns 107,731 shares in the company, valued at $39,712,878.53. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.

Home Depot Profile

(Free Report)

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 d├ęcor 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.

See Also

Institutional Ownership by Quarter for Home Depot (NYSE:HD)

Receive News & Ratings for Home Depot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Home Depot and related companies with MarketBeat.com's FREE daily email newsletter.