Naviter Wealth LLC Has $2.41 Million Position in The Home Depot, Inc. (NYSE:HD)

Naviter Wealth LLC grew its position in The Home Depot, Inc. (NYSE:HD) by 28.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 6,964 shares of the home improvement retailer’s stock after acquiring an additional 1,559 shares during the period. Naviter Wealth LLC’s holdings in Home Depot were worth $2,413,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the company. Optas LLC increased its position in shares of Home Depot by 1.7% during the 4th quarter. Optas LLC now owns 1,752 shares of the home improvement retailer’s stock valued at $607,000 after purchasing an additional 29 shares during the last quarter. Harvest Investment Advisors LLC increased its position in Home Depot by 0.8% during the third quarter. Harvest Investment Advisors LLC now owns 3,815 shares of the home improvement retailer’s stock valued at $1,153,000 after acquiring an additional 30 shares during the last quarter. Armstrong Henry H Associates Inc. raised its stake in shares of Home Depot by 0.3% in the fourth quarter. Armstrong Henry H Associates Inc. now owns 10,903 shares of the home improvement retailer’s stock valued at $3,778,000 after acquiring an additional 30 shares during the period. CGC Financial Services LLC raised its stake in shares of Home Depot by 4.3% in the fourth quarter. CGC Financial Services LLC now owns 722 shares of the home improvement retailer’s stock valued at $250,000 after acquiring an additional 30 shares during the period. Finally, Independent Investors Inc. lifted its holdings in shares of Home Depot by 0.5% in the 4th quarter. Independent Investors Inc. now owns 6,052 shares of the home improvement retailer’s stock worth $2,097,000 after acquiring an additional 30 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Home Depot

In other news, 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 completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 107,731 shares in the company, valued at approximately $39,712,878.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction of $3,317,185.04. Following the transaction, the executive vice president now owns 75,799 shares in the company, valued at $27,950,123.26. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

HD has been the subject of a number of analyst reports. Wells Fargo & Company increased their target price on Home Depot from $385.00 to $400.00 and gave the company an “overweight” rating in a research report on Tuesday, February 13th. DA Davidson reaffirmed a “neutral” rating and set a $370.00 target price on shares of Home Depot in a report on Monday, April 1st. HSBC reaffirmed a “reduce” rating and issued a $323.00 price objective on shares of Home Depot in a report on Wednesday, April 3rd. Truist Financial reissued a “buy” rating and set a $417.00 target price on shares of Home Depot in a report on Wednesday, April 17th. Finally, StockNews.com raised shares of Home Depot from a “hold” rating to a “buy” rating in a report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $375.96.

Home Depot Trading Up 0.3 %

Shares of Home Depot stock traded up $1.02 during mid-day trading on Monday, hitting $336.11. The stock had a trading volume of 1,077,305 shares, compared to its average volume of 3,326,360. The company has a quick ratio of 0.40, a current ratio of 1.35 and a debt-to-equity ratio of 40.94. The firm has a 50-day moving average of $364.77 and a two-hundred day moving average of $341.27. The Home Depot, Inc. has a 12-month low of $274.26 and a 12-month high of $396.87. The firm has a market cap of $333.09 billion, a P/E ratio of 22.25, a price-to-earnings-growth ratio of 2.23 and a beta of 0.98.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.05. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The company had revenue of $34.79 billion for the quarter, compared to analyst estimates of $34.64 billion. During the same period in the prior year, the firm earned $3.30 earnings per share. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. Sell-side analysts forecast that The Home Depot, Inc. will post 15.37 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 21st. Stockholders of record on Thursday, March 7th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.68%. The ex-dividend date was Wednesday, March 6th. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s dividend payout ratio (DPR) is 59.60%.

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.