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

Modern Wealth Management LLC increased its holdings in The Home Depot, Inc. (NYSE:HD) by 18.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,245 shares of the home improvement retailer’s stock after buying an additional 2,190 shares during the quarter. Modern Wealth Management LLC’s holdings in Home Depot were worth $5,897,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in HD. Synergy Asset Management LLC purchased a new position in shares of Home Depot during the 4th quarter worth $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Home Depot in the 4th quarter worth $28,000. Bradley & Co. Private Wealth Management LLC bought a new position in Home Depot in the 4th quarter worth $32,000. NewSquare Capital LLC lifted its position in Home Depot by 200.0% during the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after purchasing an additional 68 shares in the last quarter. Finally, Legacy Investment Solutions LLC bought a new stake in Home Depot during the third quarter valued at about $41,000. 70.86% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on HD. Guggenheim reaffirmed a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Truist Financial decreased their target price on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Wedbush reiterated an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. JPMorgan Chase & Co. raised their price objective on shares of Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Finally, HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and lifted their target price for the company from $356.00 to $410.00 in a research note on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $435.85.

Home Depot Stock Performance

Home Depot stock opened at $363.97 on Tuesday. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. The company’s 50-day moving average price is $393.46 and its 200-day moving average price is $399.16. The company has a market cap of $361.55 billion, a PE ratio of 24.73, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. The business had revenue of $39.70 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the business posted $2.82 earnings per share. On average, equities research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a dividend of $2.30 per share. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.53%. Home Depot’s payout ratio is 61.66%.

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.