The Home Depot, Inc. (NYSE:HD) Shares Bought by Centric Wealth Management

Centric Wealth Management grew its stake in shares of The Home Depot, Inc. (NYSE:HD) by 19.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,078 shares of the home improvement retailer’s stock after purchasing an additional 344 shares during the period. Centric Wealth Management’s holdings in Home Depot were worth $738,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Tcwp LLC increased its stake in Home Depot by 0.7% in the 3rd quarter. Tcwp LLC now owns 6,409 shares of the home improvement retailer’s stock valued at $1,937,000 after purchasing an additional 44 shares in the last quarter. J.W. Cole Advisors Inc. raised its position in shares of Home Depot by 16.9% in the third quarter. J.W. Cole Advisors Inc. now owns 18,032 shares of the home improvement retailer’s stock valued at $5,449,000 after buying an additional 2,605 shares during the last quarter. Affinity Wealth Management LLC grew its position in shares of Home Depot by 1.6% in the third quarter. Affinity Wealth Management LLC now owns 17,166 shares of the home improvement retailer’s stock valued at $5,187,000 after purchasing an additional 278 shares during the period. Legacy Financial Group LLC purchased a new stake in Home Depot in the 3rd quarter valued at about $457,000. Finally, Channel Wealth LLC increased its stake in shares of Home Depot by 2.4% during the 3rd quarter. Channel Wealth LLC now owns 4,365 shares of the home improvement retailer’s stock valued at $1,319,000 after acquiring an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Down 0.6 %

Home Depot stock traded down $2.10 during midday trading on Wednesday, hitting $338.59. The stock had a trading volume of 1,514,005 shares, compared to its average volume of 3,323,432. 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 business has a fifty day moving average price of $360.47 and a 200 day moving average price of $343.54. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $396.87. The stock has a market cap of $335.55 billion, a P/E ratio of 22.44, a P/E/G ratio of 2.28 and a beta of 1.01.

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

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date was Wednesday, March 6th. This is an increase from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s dividend payout ratio is currently 59.60%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Telsey Advisory Group restated a “market perform” rating and issued a $360.00 target price on shares of Home Depot in a report on Tuesday. Piper Sandler raised Home Depot from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $311.00 to $400.00 in a research report on Tuesday, January 16th. Oppenheimer downgraded Home Depot from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. Truist Financial reiterated a “buy” rating and set a $417.00 target price on shares of Home Depot in a report on Wednesday, April 17th. Finally, Wedbush raised their price target on shares of Home Depot from $380.00 to $410.00 and gave the company an “outperform” rating in a report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $375.19.

Insiders Place Their Bets

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