NewEdge Wealth LLC Increases Position in The Home Depot, Inc. (NYSE:HD)

NewEdge Wealth LLC increased its stake in shares of The Home Depot, Inc. (NYSE:HD) by 6.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 170,505 shares of the home improvement retailer’s stock after purchasing an additional 11,050 shares during the quarter. Home Depot makes up 1.2% of NewEdge Wealth LLC’s holdings, making the stock its 12th largest position. NewEdge Wealth LLC’s holdings in Home Depot were worth $66,325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. AMF Tjanstepension AB boosted its position in shares of Home Depot by 10.8% in the 3rd quarter. AMF Tjanstepension AB now owns 171,005 shares of the home improvement retailer’s stock worth $69,340,000 after purchasing an additional 16,650 shares in the last quarter. SYM FINANCIAL Corp raised its stake in Home Depot by 17.8% in the third quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock valued at $777,000 after buying an additional 289 shares during the last quarter. Wealth Group Ltd. acquired a new stake in Home Depot in the third quarter worth about $217,000. Swedbank AB boosted its holdings in Home Depot by 17.1% in the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after acquiring an additional 132,967 shares in the last quarter. Finally, Forbes J M & Co. LLP grew its stake in shares of Home Depot by 0.3% during the third quarter. Forbes J M & Co. LLP now owns 24,331 shares of the home improvement retailer’s stock worth $9,859,000 after acquiring an additional 74 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on HD shares. Wedbush reaffirmed an “outperform” rating and issued a $440.00 price objective on shares of Home Depot in a research report on Wednesday. Wells Fargo & Company raised their price target on shares of Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. boosted their price objective on shares of Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Telsey Advisory Group restated an “outperform” rating and issued a $455.00 target price on shares of Home Depot in a research note on Wednesday. Finally, Piper Sandler lowered their price target on Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a research report on Wednesday. Eight analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and an average target price of $436.50.

Home Depot Trading Down 0.7 %

HD stock opened at $390.40 on Thursday. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. 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 firm has a market cap of $387.81 billion, a P/E ratio of 26.52, a PEG ratio of 4.03 and a beta of 1.05. The company’s 50-day simple moving average is $401.17 and its 200-day simple moving average is $398.42.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating the consensus estimate of $3.04 by $0.09. The company had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 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 14.1% compared to the same quarter last year. During the same period last year, the company earned $2.82 earnings per share. As a group, equities analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The business 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. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a yield of 2.36%. Home Depot’s dividend payout ratio is currently 61.14%.

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.