Burling Wealth Partners LLC Invests $3.93 Million in The Home Depot, Inc. (NYSE:HD)

Burling Wealth Partners LLC purchased a new stake in The Home Depot, Inc. (NYSE:HD) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 10,114 shares of the home improvement retailer’s stock, valued at approximately $3,934,000.

Other large investors have also recently bought and sold shares of the company. Synergy Asset Management LLC bought a new stake in shares of Home Depot during the 4th quarter worth $26,000. Wingate Wealth Advisors Inc. acquired a new position in Home Depot during the fourth quarter worth about $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in Home Depot during the fourth quarter worth about $32,000. Sellwood Investment Partners LLC bought a new position in shares of Home Depot in the fourth quarter worth about $39,000. Finally, NewSquare Capital LLC boosted its stake in shares of Home Depot by 200.0% in the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after purchasing an additional 68 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Price Performance

Shares of NYSE HD opened at $357.03 on Thursday. The firm has a market capitalization of $354.90 billion, a P/E ratio of 24.25, a P/E/G ratio of 4.03 and a beta of 1.09. The firm’s 50-day moving average price is $365.88 and its 200-day moving average price is $393.13. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. During the same period in the prior year, the business earned $2.82 EPS. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. Equities research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a dividend of $2.30 per share. This is a boost from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date was Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Gordon Haskett cut Home Depot from a “buy” rating to a “hold” rating in a research note on Friday, April 4th. KGI Securities raised Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Truist Financial reduced their target price on shares of Home Depot from $437.00 to $391.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Finally, Wedbush reiterated an “outperform” rating and set a $440.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $434.08.

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.