The Home Depot, Inc. (NYSE:HD) Stake Boosted by Grant Private Wealth Management Inc

Grant Private Wealth Management Inc increased its position in shares of The Home Depot, Inc. (NYSE:HD) by 14.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,508 shares of the home improvement retailer’s stock after purchasing an additional 194 shares during the quarter. Grant Private Wealth Management Inc’s holdings in Home Depot were worth $553,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Center for Financial Planning Inc. lifted its stake in Home Depot by 0.5% during the fourth quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer’s stock worth $1,810,000 after purchasing an additional 24 shares during the last quarter. Members Trust Co increased its position in Home Depot by 1.0% in the fourth quarter. Members Trust Co now owns 2,692 shares of the home improvement retailer’s stock worth $1,047,000 after buying an additional 27 shares during the period. Wealth Group Ltd. increased its position in Home Depot by 5.0% in the fourth quarter. Wealth Group Ltd. now owns 563 shares of the home improvement retailer’s stock worth $219,000 after buying an additional 27 shares during the period. Sollinda Capital Management LLC increased its position in Home Depot by 2.5% in the fourth quarter. Sollinda Capital Management LLC now owns 1,115 shares of the home improvement retailer’s stock worth $434,000 after buying an additional 27 shares during the period. Finally, Hurlow Wealth Management Group Inc. increased its position in Home Depot by 1.3% in the fourth quarter. Hurlow Wealth Management Group Inc. now owns 2,137 shares of the home improvement retailer’s stock worth $831,000 after buying an additional 27 shares during the period. 70.86% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the transaction, the executive vice president now owns 7,951 shares of the company’s stock, valued at $2,919,130.14. This represents a 24.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total value of $1,996,327.68. Following the completion of the transaction, the executive vice president now directly owns 17,367 shares in the company, valued at approximately $6,413,285.76. This represents a 23.74% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on HD. Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. TD Securities lowered Home Depot to a “buy” rating in a research report on Monday, June 2nd. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and increased their target price for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $398.00 target price (up from $380.00) on shares of Home Depot in a research report on Wednesday, May 21st. Finally, Royal Bank of Canada dropped their target price on Home Depot from $424.00 to $399.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 15th. Seven research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and an average price target of $426.77.

Home Depot Trading Down 2.5%

NYSE HD opened at $354.10 on Friday. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37. The company has a market cap of $352.31 billion, a price-to-earnings ratio of 24.06, a price-to-earnings-growth ratio of 4.03 and a beta of 1.02. The business’s fifty day moving average is $362.73 and its 200 day moving average is $382.50.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.03). Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. During the same period in the prior year, the business earned $3.63 earnings per share. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, sell-side analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be given a $2.30 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.60%. Home Depot’s dividend payout ratio (DPR) is presently 62.42%.

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.