Beacon Investment Advisory Services Inc. Raises Stock Position in The Home Depot, Inc. (NYSE:HD)

Beacon Investment Advisory Services Inc. raised its stake in The Home Depot, Inc. (NYSE:HD) by 1.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 79,556 shares of the home improvement retailer’s stock after buying an additional 1,136 shares during the period. Home Depot makes up approximately 1.3% of Beacon Investment Advisory Services Inc.’s holdings, making the stock its 23rd largest holding. Beacon Investment Advisory Services Inc.’s holdings in Home Depot were worth $30,947,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Endeavor Private Wealth Inc. acquired a new stake in shares of Home Depot in the fourth quarter valued at approximately $120,000. Bill Few Associates Inc. grew its position in shares of Home Depot by 1.5% in the fourth quarter. Bill Few Associates Inc. now owns 14,449 shares of the home improvement retailer’s stock valued at $5,621,000 after purchasing an additional 210 shares during the last quarter. Peterson Wealth Advisors LLC grew its position in shares of Home Depot by 3.7% in the fourth quarter. Peterson Wealth Advisors LLC now owns 1,315 shares of the home improvement retailer’s stock valued at $512,000 after purchasing an additional 47 shares during the last quarter. D.B. Root & Company LLC grew its position in shares of Home Depot by 1.0% in the fourth quarter. D.B. Root & Company LLC now owns 4,015 shares of the home improvement retailer’s stock valued at $1,562,000 after purchasing an additional 40 shares during the last quarter. Finally, Asset Planning Services Inc. LA ADV boosted its position in Home Depot by 0.8% during the fourth quarter. Asset Planning Services Inc. LA ADV now owns 19,071 shares of the home improvement retailer’s stock worth $7,419,000 after acquiring an additional 159 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Stock Performance

Home Depot stock opened at $414.53 on Friday. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37. The company has a market capitalization of $411.77 billion, a price-to-earnings ratio of 28.16, a price-to-earnings-growth ratio of 4.32 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The firm’s fifty day moving average price is $407.01 and its 200 day moving average price is $389.64.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $39.31 billion. During the same quarter in the previous year, the firm posted $3.81 EPS. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. On average, research analysts forecast that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot’s dividend payout ratio is currently 61.14%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HD. Loop Capital upgraded shares of Home Depot from a “hold” rating to a “buy” rating and raised their target price for the stock from $360.00 to $460.00 in a research report on Wednesday, October 9th. Stifel Nicolaus raised their target price on shares of Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Truist Financial raised their target price on shares of Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Mizuho raised their target price on shares of Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Wells Fargo & Company raised their target price on shares of Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus price target of $426.00.

Insiders Place Their Bets

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

Home Depot 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.