Tower View Wealth Management LLC Trims Position in The Home Depot, Inc. (NYSE:HD)

Tower View Wealth Management LLC decreased its stake in shares of The Home Depot, Inc. (NYSE:HD) by 1.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 15,667 shares of the home improvement retailer’s stock after selling 272 shares during the quarter. Home Depot accounts for about 3.2% of Tower View Wealth Management LLC’s holdings, making the stock its 9th biggest holding. Tower View Wealth Management LLC’s holdings in Home Depot were worth $6,094,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Synergy Asset Management LLC acquired a new stake in Home Depot during the fourth quarter worth about $26,000. Wingate Wealth Advisors Inc. acquired a new stake in Home Depot during the fourth quarter worth about $28,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in Home Depot during the fourth quarter worth about $32,000. Legacy Investment Solutions LLC acquired a new stake in Home Depot during the third quarter worth about $41,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in Home Depot during the fourth quarter worth about $41,000. Institutional investors own 70.86% of the company’s stock.

Home Depot Trading Up 1.6 %

Shares of NYSE:HD opened at $396.69 on Friday. The stock has a market capitalization of $394.06 billion, a price-to-earnings ratio of 26.95, a PEG ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The company has a 50 day moving average price of $401.36 and a 200 day moving average price of $399.06.

Home Depot (NYSE:HD) last issued its 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 net margin of 9.45% and a return on equity of 452.60%. 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 firm posted $2.82 earnings per share. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. On average, research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a $2.30 dividend. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.32%. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

Analysts Set New Price Targets

Several research firms recently weighed in on HD. Wedbush reiterated an “outperform” rating and set a $440.00 price objective on shares of Home Depot in a research note on Wednesday. Stifel Nicolaus raised their price target on shares of Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Guggenheim restated a “buy” rating and issued a $450.00 price target on shares of Home Depot in a research note on Wednesday. Wells Fargo & Company raised their price target on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Finally, Royal Bank of Canada dropped their price target on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research note on Wednesday. Nine analysts have rated the stock with a hold rating and twenty-two have given 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 $436.50.

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.