Peterson Wealth Management Trims Stock Position in The Home Depot, Inc. (NYSE:HD)

Peterson Wealth Management trimmed its holdings in The Home Depot, Inc. (NYSE:HD) by 2.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 8,470 shares of the home improvement retailer’s stock after selling 182 shares during the period. Home Depot accounts for 2.2% of Peterson Wealth Management’s holdings, making the stock its 19th biggest holding. Peterson Wealth Management’s holdings in Home Depot were worth $3,432,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Texas Capital Bank Wealth Management Services Inc raised its position in Home Depot by 27.6% during the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock valued at $9,348,000 after acquiring an additional 5,879 shares in the last quarter. Pegasus Asset Management Inc. increased its holdings in shares of Home Depot by 1.8% during the 3rd quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock valued at $2,024,000 after purchasing an additional 86 shares in the last quarter. Swedbank AB lifted its stake in shares of Home Depot by 17.1% in the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after purchasing an additional 132,967 shares during the period. LGT Group Foundation boosted its holdings in Home Depot by 121.0% during the second quarter. LGT Group Foundation now owns 269,368 shares of the home improvement retailer’s stock worth $92,727,000 after buying an additional 147,482 shares in the last quarter. Finally, Cerity Partners LLC grew its position in Home Depot by 14.3% during the third quarter. Cerity Partners LLC now owns 673,876 shares of the home improvement retailer’s stock valued at $273,055,000 after buying an additional 84,062 shares during the period. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Price Performance

Home Depot stock opened at $427.19 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The stock has a market cap of $424.35 billion, a P/E ratio of 29.02, a PEG ratio of 2.97 and a beta of 1.01. The company has a 50-day moving average price of $406.69 and a 200 day moving average price of $371.20. The Home Depot, Inc. has a 12-month low of $308.59 and a 12-month high of $439.37.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating the consensus estimate of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.81 EPS. Sell-side analysts anticipate that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Wednesday, November 27th. Home Depot’s dividend payout ratio is presently 61.14%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on HD. Telsey Advisory Group upgraded shares of Home Depot from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $360.00 to $455.00 in a research report on Friday, November 8th. Piper Sandler upped their price target on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Truist Financial raised their price objective on Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Bank of America upped their target price on Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, UBS Group lifted their price target on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $426.00.

Insider Buying and Selling

In other news, EVP Timothy A. Hourigan sold 16,004 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the completion of the transaction, the executive vice president now directly owns 77,475 shares in the company, valued at $31,727,562. This trade represents a 17.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Ann Marie Campbell sold 100 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total value of $40,258.00. Following the completion of the sale, the executive vice president now owns 12,465 shares in the company, valued at $5,018,159.70. This represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,188 shares of company stock valued at $15,624,585. 0.10% of the stock is currently owned by insiders.

Home Depot Company 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.