The Home Depot, Inc. (NYSE:HD) Shares Bought by Connecticut Wealth Management LLC

Connecticut Wealth Management LLC raised its stake in The Home Depot, Inc. (NYSE:HD) by 5.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,009 shares of the home improvement retailer’s stock after purchasing an additional 666 shares during the period. Connecticut Wealth Management LLC’s holdings in Home Depot were worth $4,855,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of HD. Bare Financial Services Inc acquired a new stake in shares of Home Depot during the 4th quarter worth about $26,000. Keener Financial Planning LLC acquired a new stake in shares of Home Depot during the 4th quarter worth about $31,000. PFG Private Wealth Management LLC raised its position in shares of Home Depot by 53.3% during 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 in the last quarter. Gilfoyle & Co LLC acquired a new stake in shares of Home Depot during the 4th quarter worth about $35,000. Finally, Briaud Financial Planning Inc acquired a new stake in shares of Home Depot during the 3rd quarter worth about $41,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on HD shares. Oppenheimer lowered Home Depot from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. Robert W. Baird reaffirmed an “outperform” rating and set a $370.00 price target on shares of Home Depot in a research report on Wednesday, February 14th. DA Davidson reaffirmed a “neutral” rating and set a $370.00 price target on shares of Home Depot in a research report on Monday, April 1st. Citigroup lifted their price target on Home Depot from $333.00 to $415.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Finally, Piper Sandler raised Home Depot from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $311.00 to $400.00 in a research report on Tuesday, January 16th. One equities 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $375.96.

Insider Transactions at Home Depot

In other news, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly 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 is accessible through this hyperlink. In other news, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly 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 is accessible through this hyperlink. Also, EVP Timothy A. Hourigan sold 8,996 shares of the business’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 disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Home Depot Price Performance

Shares of Home Depot stock traded up $7.32 during trading on Friday, reaching $342.85. The company’s stock had a trading volume of 4,165,054 shares, compared to its average volume of 3,606,830. The business has a 50 day moving average price of $361.75 and a 200-day moving average price of $342.08. The company has a market capitalization of $339.77 billion, a P/E ratio of 22.71, a price-to-earnings-growth ratio of 2.23 and a beta of 1.01. The Home Depot, Inc. has a 12-month low of $274.26 and a 12-month high of $396.87. The company has a quick ratio of 0.40, a current ratio of 1.35 and a debt-to-equity ratio of 40.94.

Home Depot (NYSE:HD) last issued its quarterly earnings data 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 firm 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%. Home Depot’s revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $3.30 earnings per share. As a group, sell-side analysts anticipate that The Home Depot, Inc. will post 15.37 EPS for the current year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.63%. This is a boost from Home Depot’s previous quarterly dividend of $2.09. The ex-dividend date was Wednesday, March 6th. Home Depot’s payout ratio is 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.