Modern Wealth Management LLC Acquires 2,190 Shares of The Home Depot, Inc. (NYSE:HD)

Modern Wealth Management LLC increased its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 18.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 14,245 shares of the home improvement retailer’s stock after acquiring an additional 2,190 shares during the period. Modern Wealth Management LLC’s holdings in Home Depot were worth $5,897,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of HD. SYM FINANCIAL Corp grew its stake in Home Depot by 17.8% in the third quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock worth $777,000 after purchasing an additional 289 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Home Depot by 10.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer’s stock worth $596,140,000 after buying an additional 141,915 shares during the period. United Bank grew its position in shares of Home Depot by 4.2% during the 3rd quarter. United Bank now owns 4,458 shares of the home improvement retailer’s stock worth $1,806,000 after buying an additional 181 shares in the last quarter. Algert Global LLC purchased a new position in shares of Home Depot during the third quarter valued at $649,000. Finally, Centaurus Financial Inc. raised its holdings in shares of Home Depot by 0.8% in the third quarter. Centaurus Financial Inc. now owns 4,453 shares of the home improvement retailer’s stock valued at $1,805,000 after acquiring an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on HD. Guggenheim reiterated a “buy” rating and set a $450.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Wedbush reissued an “outperform” rating and issued a $440.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. KGI Securities raised Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Finally, HSBC raised Home Depot from a “reduce” rating to a “hold” rating and boosted their price target for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $435.85.

Home Depot Stock Performance

Shares of HD stock opened at $363.97 on Tuesday. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The business has a fifty day moving average of $393.46 and a 200 day moving average of $399.16. The firm has a market capitalization of $361.55 billion, a price-to-earnings ratio of 24.73, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. 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 announced its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. During the same period last year, the business posted $2.82 earnings per share. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a $2.30 dividend. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s dividend payout ratio is 61.66%.

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.