Innova Wealth Partners Takes $405,000 Position in The Home Depot, Inc. (NYSE:HD)

Innova Wealth Partners acquired a new position in shares of The Home Depot, Inc. (NYSE:HD) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,042 shares of the home improvement retailer’s stock, valued at approximately $405,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of HD. Fairway Wealth LLC bought a new position in shares of Home Depot in the 2nd quarter valued at about $25,000. Legacy Investment Solutions LLC acquired a new position in Home Depot during the third quarter valued at approximately $41,000. Livelsberger Financial Advisory bought a new position in Home Depot in the third quarter valued at approximately $46,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Home Depot during the 2nd quarter worth approximately $47,000. Finally, Quarry LP raised its stake in shares of Home Depot by 36.0% during the 2nd quarter. Quarry LP now owns 136 shares of the home improvement retailer’s stock worth $47,000 after purchasing an additional 36 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Sanford C. Bernstein began coverage on shares of Home Depot in a research note on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 target price for the company. Telsey Advisory Group upgraded shares of Home Depot from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $360.00 to $455.00 in a research note on Friday, November 8th. Morgan Stanley raised their target price on shares of Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. TD Cowen lifted their price target on Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Finally, Barclays upped their price objective on Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Stock Down 1.3 %

Shares of NYSE HD opened at $384.28 on Wednesday. The stock has a market capitalization of $381.73 billion, a P/E ratio of 26.11, a PEG ratio of 2.90 and a beta of 1.05. The stock’s fifty day moving average is $406.45 and its 200 day moving average is $385.03. 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.

Home Depot (NYSE:HD) last released its 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. During the same period last year, the firm earned $3.81 EPS. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. Sell-side analysts forecast that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were paid a $2.25 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $9.00 annualized dividend and a dividend yield of 2.34%. Home Depot’s payout ratio is 61.14%.

Insider Transactions at Home Depot

In related 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 sale, the executive vice president now 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Ann Marie Campbell sold 100 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total value of $40,258.00. Following 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 quarter, insiders sold 38,188 shares of company stock valued at $15,624,585. Corporate insiders own 0.10% of the company’s stock.

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.