The Home Depot, Inc. (NYSE:HD) Stock Position Raised by Peterson Wealth Services

Peterson Wealth Services raised its position in shares of The Home Depot, Inc. (NYSE:HD) by 6.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,946 shares of the home improvement retailer’s stock after purchasing an additional 773 shares during the period. Home Depot accounts for about 1.9% of Peterson Wealth Services’ investment portfolio, making the stock its 15th largest position. Peterson Wealth Services’ holdings in Home Depot were worth $4,487,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HD. BCK Partners Inc. bought a new position in Home Depot in the 1st quarter worth $2,933,000. Fairfield Bush & CO. bought a new position in Home Depot in the 1st quarter worth approximately $27,000. Ergoteles LLC acquired a new position in shares of Home Depot during the first quarter worth approximately $1,554,000. Equitable Holdings Inc. boosted its position in shares of Home Depot by 7.4% in the first quarter. Equitable Holdings Inc. now owns 14,628 shares of the home improvement retailer’s stock valued at $4,379,000 after acquiring an additional 1,007 shares during the period. Finally, First Trust Advisors LP grew its stake in shares of Home Depot by 3.2% in the first quarter. First Trust Advisors LP now owns 791,318 shares of the home improvement retailer’s stock worth $236,865,000 after acquiring an additional 24,640 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on HD shares. TD Cowen boosted their target price on shares of Home Depot from $415.00 to $440.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. Piper Sandler raised shares of Home Depot from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $311.00 to $400.00 in a report on Tuesday, January 16th. Mizuho started coverage on shares of Home Depot in a research note on Tuesday, March 19th. They issued a “buy” rating and a $415.00 target price on the stock. Guggenheim restated a “buy” rating and issued a $390.00 target price on shares of Home Depot in a research note on Friday, April 5th. Finally, Evercore ISI reduced their target price on shares of Home Depot from $420.00 to $415.00 and set an “outperform” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $375.96.

Home Depot Stock Up 0.0 %

HD opened at $332.89 on Friday. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week 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 $329.90 billion, a P/E ratio of 22.05, a P/E/G ratio of 2.22 and a beta of 0.98. The stock has a fifty day moving average of $367.92 and a 200-day moving average of $338.97.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.05. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The company had revenue of $34.79 billion during the quarter, compared to the consensus estimate of $34.64 billion. During the same quarter last year, the firm earned $3.30 earnings per share. The company’s revenue was down 2.9% on a year-over-year basis. On average, equities analysts expect that The Home Depot, Inc. will post 15.37 EPS for the current year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were issued a dividend of $2.25 per share. The ex-dividend date was Wednesday, March 6th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.70%. This is an increase from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s dividend payout ratio (DPR) is currently 59.60%.

Insider Transactions at Home Depot

In other news, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction on 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 completion of the sale, the chief executive officer now owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, 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 value of $13,265,887.81. Following the completion of the transaction, the chief executive officer now owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total value of $3,317,185.04. Following the transaction, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at approximately $27,950,123.26. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Home Depot Company 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.