Western Wealth Management LLC Lowers Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Western Wealth Management LLC decreased its position in shares of The Home Depot, Inc. (NYSE:HD) by 0.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,546 shares of the home improvement retailer’s stock after selling 95 shares during the quarter. Western Wealth Management LLC’s holdings in Home Depot were worth $7,120,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Fairfield Bush & CO. purchased a new stake in Home Depot in the 1st quarter worth $27,000. KB Financial Partners LLC purchased a new stake in Home Depot in the 1st quarter worth $28,000. Keener Financial Planning LLC purchased a new stake in Home Depot in the 4th quarter worth $31,000. PFG Private Wealth Management LLC lifted its stake in Home Depot by 53.3% in the 4th quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 32 shares in the last quarter. Finally, Studio Investment Management LLC purchased a new stake in Home Depot in the 4th quarter worth $32,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Transactions at Home Depot

In other news, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value 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 approximately $39,712,878.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value 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 approximately $39,712,878.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the sale, 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. Corporate insiders own 0.10% of the company’s stock.

Home Depot Price Performance

Shares of HD stock opened at $335.36 on Friday. The company has a debt-to-equity ratio of 40.94, a current ratio of 1.35 and a quick ratio of 0.40. The company has a market capitalization of $332.35 billion, a P/E ratio of 22.21, a P/E/G ratio of 2.22 and a beta of 0.98. The company’s 50-day simple moving average is $367.36 and its two-hundred day simple moving average is $339.21. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $396.87.

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

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were given a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend was Wednesday, March 6th. This is a boost from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s dividend payout ratio is presently 59.60%.

Analysts Set New Price Targets

Several brokerages have commented on HD. Barclays upgraded shares of Home Depot from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $325.00 to $372.00 in a research note on Thursday, January 4th. Royal Bank of Canada boosted their price target on shares of Home Depot from $299.00 to $377.00 and gave the stock a “sector perform” rating in a research note on Monday, February 26th. Truist Financial restated a “buy” rating and issued a $417.00 target price on shares of Home Depot in a report on Wednesday. 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 report on Tuesday. Finally, Bank of America boosted their target price on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Monday, April 1st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and a consensus price target of $375.96.

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.