National Wealth Management Group LLC Buys New Position in The Home Depot, Inc. (NYSE:HD)

National Wealth Management Group LLC purchased a new position in shares of The Home Depot, Inc. (NYSE:HD) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 612 shares of the home improvement retailer’s stock, valued at approximately $238,000.

Other hedge funds have also made changes to their positions in the company. Synergy Asset Management LLC purchased a new position in shares of Home Depot during the fourth quarter worth about $26,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Home Depot during the fourth quarter worth $28,000. Bradley & Co. Private Wealth Management LLC purchased a new position in Home Depot in the 4th quarter valued at $32,000. Legacy Investment Solutions LLC acquired a new position in Home Depot in the 3rd quarter valued at $41,000. Finally, Marshall Investment Management LLC purchased a new position in Home Depot during the 4th quarter worth $41,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Performance

Shares of NYSE HD opened at $366.95 on Tuesday. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The company has a market cap of $364.76 billion, a PE ratio of 24.93, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The company has a 50-day simple moving average of $389.13 and a 200-day simple moving average of $398.94. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping the consensus estimate of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. During the same period in the previous year, the company earned $2.82 EPS. Home Depot’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, equities analysts anticipate 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 was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $2.30 per share. The ex-dividend date was Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.51%. Home Depot’s dividend payout ratio is 61.66%.

Wall Street Analyst Weigh In

HD has been the topic of a number of recent analyst reports. Piper Sandler dropped their price target on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Royal Bank of Canada dropped their target price on Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 26th. Robert W. Baird reduced their price target on Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Telsey Advisory Group restated an “outperform” rating and issued a $455.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. increased their price objective on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $435.85.

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.