Drive Wealth Management LLC Boosts Stake in The Home Depot, Inc. (NYSE:HD)

Drive Wealth Management LLC increased its stake in shares of The Home Depot, Inc. (NYSE:HDFree Report) by 1.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 4,083 shares of the home improvement retailer’s stock after buying an additional 74 shares during the period. Drive Wealth Management LLC’s holdings in Home Depot were worth $1,415,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Morgan Stanley boosted its position in Home Depot by 10.0% in the 4th quarter. Morgan Stanley now owns 18,737,490 shares of the home improvement retailer’s stock valued at $5,918,425,000 after buying an additional 1,698,402 shares during the period. Northern Trust Corp boosted its position in Home Depot by 1.3% in the 3rd quarter. Northern Trust Corp now owns 12,347,396 shares of the home improvement retailer’s stock valued at $3,730,889,000 after buying an additional 153,141 shares during the period. Norges Bank purchased a new position in Home Depot in the 4th quarter valued at approximately $3,740,875,000. Moneta Group Investment Advisors LLC boosted its position in Home Depot by 105,205.6% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 10,994,957 shares of the home improvement retailer’s stock valued at $3,472,867,000 after buying an additional 10,984,516 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Home Depot by 14.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,729,735 shares of the home improvement retailer’s stock valued at $3,211,731,000 after buying an additional 1,361,660 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on HD shares. Stifel Nicolaus raised their price objective on shares of Home Depot from $355.00 to $366.00 and gave the company a “hold” rating in a report on Friday, February 16th. TD Cowen raised their price objective on shares of Home Depot from $415.00 to $440.00 and gave the company an “outperform” rating in a report on Monday, March 4th. Zelman & Associates upgraded shares of Home Depot from a “neutral” rating to an “outperform” rating in a report on Tuesday. Mizuho started coverage on shares of Home Depot in a report on Tuesday, March 19th. They issued a “buy” rating and a $415.00 price objective on the stock. Finally, Piper Sandler upgraded shares of Home Depot from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $311.00 to $400.00 in a report on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, Home Depot has an average rating of “Moderate Buy” and a consensus target price of $376.35.

Get Our Latest Research Report on Home Depot

Insiders Place Their Bets

In other news, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the sale, the chief executive officer now owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the sale, the executive vice president now owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 107,731 shares in the company, valued at approximately $39,712,878.53. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.

Home Depot Trading Down 1.4 %

Shares of Home Depot stock opened at $363.00 on Wednesday. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $396.87. The company has a debt-to-equity ratio of 40.94, a quick ratio of 0.40 and a current ratio of 1.35. The company has a market capitalization of $359.74 billion, a P/E ratio of 24.04, a PEG ratio of 2.43 and a beta of 0.98. The company’s fifty day moving average is $369.63 and its two-hundred day moving average is $335.67.

Home Depot (NYSE:HDGet Free Report) last issued its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $34.79 billion for the quarter, compared to the consensus estimate of $34.64 billion. During the same period last year, the firm posted $3.30 EPS. Home Depot’s revenue for the quarter was down 2.9% on a year-over-year basis. Analysts forecast that The Home Depot, Inc. will post 15.38 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were given a dividend of $2.25 per share. 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 2.48%. The ex-dividend date was Wednesday, March 6th. Home Depot’s dividend payout ratio (DPR) is presently 59.60%.

About Home Depot

(Free Report)

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 d├ęcor 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.

See Also

Want to see what other hedge funds are holding HD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Home Depot, Inc. (NYSE:HDFree Report).

Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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