NewEdge Wealth LLC Has $66.33 Million Position in The Home Depot, Inc. (NYSE:HD)

NewEdge Wealth LLC increased its position in shares of The Home Depot, Inc. (NYSE:HD) by 6.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 170,505 shares of the home improvement retailer’s stock after buying an additional 11,050 shares during the quarter. Home Depot accounts for about 1.2% of NewEdge Wealth LLC’s portfolio, making the stock its 12th biggest holding. NewEdge Wealth LLC’s holdings in Home Depot were worth $66,325,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. POM Investment Strategies LLC grew its holdings in Home Depot by 1.1% during the 4th quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer’s stock valued at $824,000 after buying an additional 24 shares in the last quarter. Center for Financial Planning Inc. boosted its position in shares of Home Depot by 0.5% during the 4th quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer’s stock valued at $1,810,000 after acquiring an additional 24 shares during the last quarter. Insight Inv LLC boosted its position in shares of Home Depot by 2.0% during the 3rd quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer’s stock valued at $505,000 after acquiring an additional 25 shares during the last quarter. Marino Stram & Associates LLC increased its position in Home Depot by 2.3% in the fourth quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer’s stock worth $431,000 after purchasing an additional 25 shares during the last quarter. Finally, Live Oak Private Wealth LLC raised its stake in Home Depot by 0.5% during the fourth quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer’s stock valued at $1,912,000 after purchasing an additional 25 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

HD has been the subject of a number of recent research reports. Wedbush reissued an “outperform” rating and issued a $440.00 price objective on shares of Home Depot in a research note on Wednesday. Piper Sandler dropped 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. Stifel Nicolaus upped their price objective on Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Royal Bank of Canada dropped their target price on Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a report on Wednesday. Finally, Wells Fargo & Company boosted their target price on Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Eight research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Stock Down 0.7 %

Shares of NYSE HD 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 firm has a market capitalization of $387.81 billion, a price-to-earnings ratio of 26.52, a PEG ratio of 4.03 and a beta of 1.05. The stock has a 50 day moving average price of $401.17 and a 200 day moving average price of $398.42. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.09. The business had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.82 EPS. Sell-side analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently announced 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. This is an increase from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.36%. Home Depot’s dividend payout ratio (DPR) is 61.14%.

About Home Depot

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.