Linscomb Wealth Inc. Sells 56 Shares of The Home Depot, Inc. (NYSE:HD)

Linscomb Wealth Inc. trimmed its position in shares of The Home Depot, Inc. (NYSE:HD) by 0.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,528 shares of the home improvement retailer’s stock after selling 56 shares during the quarter. Linscomb Wealth Inc.’s holdings in Home Depot were worth $2,645,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fairway Wealth LLC bought a new position in Home Depot in the 2nd quarter worth $25,000. Kings Path Partners LLC purchased a new position in Home Depot during the second quarter valued at $33,000. Denver PWM LLC purchased a new position in Home Depot during the second quarter valued at $40,000. Livelsberger Financial Advisory purchased a new position in Home Depot during the third quarter valued at $46,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Home Depot during the second quarter valued at $47,000. 70.86% of the stock is owned by institutional investors.

Home Depot Price Performance

Shares of HD stock traded down $0.47 during mid-day trading on Friday, hitting $405.25. 701,541 shares of the stock were exchanged, compared to its average volume of 3,369,880. The firm has a fifty day moving average of $398.55 and a 200 day moving average of $365.84. The company has a quick ratio of 0.33, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a 52-week low of $302.34 and a 52-week high of $421.56. The company has a market cap of $402.53 billion, a PE ratio of 27.65, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, beating analysts’ consensus estimates of $3.64 by $0.14. The firm had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the company posted $3.81 EPS. Research analysts anticipate that The Home Depot, Inc. will post 15.06 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.22%. Home Depot’s payout ratio is currently 61.14%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on HD. Telsey Advisory Group upgraded Home Depot from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $360.00 to $455.00 in a research report on Friday, November 8th. TD Cowen raised their price target on Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday, October 28th. Piper Sandler lifted their target price on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. DA Davidson boosted their price objective on Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Royal Bank of Canada boosted their price objective on Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a research note on Monday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $426.00.

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.