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

Spire Wealth Management raised its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 15.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,241 shares of the home improvement retailer’s stock after buying an additional 5,135 shares during the quarter. Spire Wealth Management’s holdings in Home Depot were worth $14,875,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. International Assets Investment Management LLC increased its stake in shares of Home Depot by 51,250.1% during the third quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock worth $35,575,880,000 after buying an additional 8,762,735 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Home Depot during the third quarter worth approximately $336,231,000. FMR LLC increased its stake in shares of Home Depot by 10.1% during the third quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock worth $3,516,827,000 after buying an additional 795,438 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Home Depot by 295.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 693,318 shares of the home improvement retailer’s stock worth $280,932,000 after buying an additional 518,054 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Home Depot by 2.0% during the third quarter. Geode Capital Management LLC now owns 21,700,427 shares of the home improvement retailer’s stock worth $8,767,449,000 after buying an additional 433,126 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Buying and Selling

In related news, EVP Teresa Wynn Roseborough sold 22,084 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $408.91, for a total value of $9,030,368.44. Following the sale, the executive vice president now directly owns 20,404 shares in the company, valued at $8,343,399.64. The trade was a 51.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Timothy A. Hourigan sold 16,004 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 77,475 shares in the company, valued at $31,727,562. This represents a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,188 shares of company stock worth $15,624,585 in the last three months. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

HD has been the topic of a number of recent research reports. Truist Financial upped their target price on shares of Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Morgan Stanley increased their price target 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. Telsey Advisory Group upgraded shares of Home Depot from a “market perform” rating to an “outperform” rating and increased their price target for the company from $360.00 to $455.00 in a research note on Friday, November 8th. Stifel Nicolaus increased their price target on shares of Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company increased their price target on shares of Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. One equities 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $426.00.

Home Depot Price Performance

Home Depot stock opened at $409.18 on Tuesday. The Home Depot, Inc. has a one year low of $323.77 and a one year 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. The business has a fifty day moving average of $407.86 and a two-hundred day moving average of $392.76. The company has a market cap of $406.46 billion, a P/E ratio of 27.80, a price-to-earnings-growth ratio of 4.34 and a beta of 1.05.

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 analysts’ consensus estimates of $3.64 by $0.14. The company had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. Home Depot’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the company earned $3.81 earnings per share. As a group, analysts predict 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 disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were given a $2.25 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $9.00 annualized dividend and a dividend yield of 2.20%. Home Depot’s dividend payout ratio is presently 61.14%.

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.