Steele Capital Management Inc. Invests $429,000 in The Home Depot, Inc. (NYSE:HD)

Steele Capital Management Inc. bought a new stake in The Home Depot, Inc. (NYSE:HD) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,236 shares of the home improvement retailer’s stock, valued at approximately $429,000.

Several other large investors also recently bought and sold shares of HD. Keener Financial Planning LLC purchased a new stake in shares of Home Depot during the fourth quarter valued at $31,000. PFG Private Wealth Management LLC raised 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 acquiring an additional 32 shares during the last quarter. Gilfoyle & Co LLC acquired a new position in Home Depot in the 4th quarter worth approximately $35,000. Briaud Financial Planning Inc acquired a new position in Home Depot during the third quarter valued at $41,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Home Depot in the third quarter worth about $64,000. Institutional investors own 70.86% of the company’s stock.

Insider Transactions at Home Depot

In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Timothy A. Hourigan sold 8,996 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 sale, the chief executive officer now owns 107,731 shares in the company, valued at approximately $39,712,878.53. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

HD has been the topic of several recent analyst reports. TD Cowen increased their price objective on shares of Home Depot from $415.00 to $440.00 and gave the company an “outperform” rating in a report on Monday, March 4th. Wells Fargo & Company increased their price objective on Home Depot from $385.00 to $400.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th. StockNews.com upgraded shares of Home Depot from a “hold” rating to a “buy” rating in a research report on Wednesday, April 24th. DA Davidson reaffirmed a “neutral” rating and issued a $370.00 target price on shares of Home Depot in a research report on Monday, April 1st. Finally, Mizuho assumed coverage on Home Depot in a research note on Tuesday, March 19th. They issued a “buy” rating and a $415.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $375.96.

Home Depot Stock Performance

Shares of Home Depot stock traded down $2.82 during trading hours on Tuesday, reaching $333.98. The company’s stock had a trading volume of 544,964 shares, compared to its average volume of 3,311,398. The company’s 50 day simple moving average is $364.25 and its 200 day simple moving average is $341.58. The stock has a market cap of $330.98 billion, a P/E ratio of 22.20, a price-to-earnings-growth ratio of 2.23 and a beta of 0.98. 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 Home Depot, Inc. has a one year low of $274.26 and a one year high of $396.87.

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

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were given a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.69%. This is an increase from Home Depot’s previous quarterly dividend of $2.09. The ex-dividend date was Wednesday, March 6th. Home Depot’s payout ratio is currently 59.60%.

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.