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

Drive Wealth Management LLC grew its position in The Home Depot, Inc. (NYSE:HD) by 1.0% in the third quarter, HoldingsChannel reports. The fund owned 3,857 shares of the home improvement retailer’s stock after acquiring an additional 40 shares during the quarter. Drive Wealth Management LLC’s holdings in Home Depot were worth $1,563,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of HD. Fairway Wealth LLC purchased a new stake in Home Depot in the 2nd quarter worth $25,000. Kings Path Partners LLC acquired a new stake in shares of Home Depot in the second quarter valued at about $33,000. Denver PWM LLC acquired a new position in shares of Home Depot during the 2nd quarter worth about $40,000. Livelsberger Financial Advisory purchased a new position in Home Depot in the 3rd quarter valued at about $46,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Home Depot in the 2nd quarter worth about $47,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Home Depot

In related news, EVP Teresa Wynn Roseborough sold 22,084 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the sale, the executive vice president now directly owns 20,404 shares in the company, valued at approximately $8,343,399.64. This represents a 51.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.10% of the stock is currently owned by company insiders.

Home Depot Stock Up 0.6 %

Shares of NYSE:HD opened at $408.18 on Monday. The firm has a market capitalization of $405.44 billion, a PE ratio of 27.73, a price-to-earnings-growth ratio of 2.84 and a beta of 1.01. The Home Depot, Inc. has a 1 year low of $302.34 and a 1 year high of $421.56. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.33. The firm’s 50-day moving average is $399.51 and its two-hundred day moving average is $366.81.

Home Depot (NYSE:HD) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.81 earnings per share. Analysts predict that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Wednesday, November 27th. Home Depot’s payout ratio is currently 61.14%.

Wall Street Analyst Weigh In

Several research firms recently commented on HD. Oppenheimer increased their price objective on Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research note on Tuesday, September 24th. Telsey Advisory Group upgraded Home Depot from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $360.00 to $455.00 in a report on Friday, November 8th. Royal Bank of Canada increased their price target on Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a report on Monday, November 11th. Evercore ISI lifted their price objective on Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Mizuho upped their target price on Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $426.00.

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.