Provence Wealth Management Group Acquires 516 Shares of The Home Depot, Inc. (NYSE:HD)

Provence Wealth Management Group grew its stake in The Home Depot, Inc. (NYSE:HD) by 22.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,803 shares of the home improvement retailer’s stock after acquiring an additional 516 shares during the quarter. Provence Wealth Management Group’s holdings in Home Depot were worth $971,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in HD. Bare Financial Services Inc acquired a new position in Home Depot during the 4th quarter valued at about $26,000. Keener Financial Planning LLC purchased a new position in shares of Home Depot in the 4th quarter valued at approximately $31,000. PFG Private Wealth Management LLC boosted its stake in Home Depot by 53.3% in the 4th quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 32 shares in the last quarter. Gilfoyle & Co LLC purchased a new stake in Home Depot during the 4th quarter worth approximately $35,000. Finally, Briaud Financial Planning Inc acquired a new position in Home Depot during the 3rd quarter valued at approximately $41,000. 70.86% of the stock is owned by institutional investors.

Home Depot Price Performance

HD traded up $7.32 during midday trading on Friday, hitting $342.85. 4,165,054 shares of the company traded hands, compared to its average volume of 3,606,830. The company has a market capitalization of $339.77 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 2.28 and a beta of 1.01. The business has a 50 day simple moving average of $361.75 and a two-hundred day simple moving average of $342.08. The company has a current ratio of 1.35, a quick ratio of 0.40 and a debt-to-equity ratio of 40.94. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $396.87.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.05. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The firm had revenue of $34.79 billion for the quarter, compared to analyst estimates of $34.64 billion. During the same period last year, the company posted $3.30 EPS. Home Depot’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, equities analysts forecast that The Home Depot, Inc. will post 15.37 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were paid a $2.25 dividend. This is an increase from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 annualized dividend and a yield of 2.63%. The ex-dividend date was Wednesday, March 6th. Home Depot’s dividend payout ratio is currently 59.60%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on HD. Piper Sandler raised shares of Home Depot from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $311.00 to $400.00 in a report on Tuesday, January 16th. TD Cowen increased their price objective on Home Depot from $415.00 to $440.00 and gave the company an “outperform” rating in a report on Monday, March 4th. Robert W. Baird restated an “outperform” rating and issued a $370.00 price objective on shares of Home Depot in a research note on Wednesday, February 14th. Telsey Advisory Group upped their target price on Home Depot from $335.00 to $360.00 and gave the company a “market perform” rating in a research report on Monday, April 1st. Finally, Wedbush raised their price target on shares of Home Depot from $380.00 to $410.00 and gave the stock an “outperform” rating in a research report on Monday, April 1st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $375.96.

Insider Buying and Selling at Home Depot

In related news, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the sale, the chief executive officer now owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the transaction, the chief executive officer now owns 107,731 shares in the company, valued at $39,712,878.53. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Timothy A. Hourigan sold 8,996 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total value of $3,317,185.04. Following the completion of the sale, the executive vice president now owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.

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.