Laurel Wealth Advisors LLC Boosts Holdings in The Home Depot, Inc. (NYSE:HD)

Laurel Wealth Advisors LLC grew its holdings in The Home Depot, Inc. (NYSE:HDGet Rating) by 0.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,695 shares of the home improvement retailer’s stock after acquiring an additional 68 shares during the quarter. Home Depot accounts for approximately 2.0% of Laurel Wealth Advisors LLC’s investment portfolio, making the stock its 10th biggest position. Laurel Wealth Advisors LLC’s holdings in Home Depot were worth $8,144,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. IFM Investors Pty Ltd lifted its stake in Home Depot by 20.4% during the first quarter. IFM Investors Pty Ltd now owns 166,390 shares of the home improvement retailer’s stock worth $49,806,000 after purchasing an additional 28,209 shares during the last quarter. BCK Partners Inc. acquired a new position in Home Depot during the 1st quarter valued at about $2,933,000. West Chester Capital Advisors Inc. boosted its holdings in Home Depot by 6.9% during the 1st quarter. West Chester Capital Advisors Inc. now owns 2,911 shares of the home improvement retailer’s stock worth $871,000 after acquiring an additional 187 shares during the last quarter. Platform Technology Partners increased its stake in Home Depot by 5.7% in the 1st quarter. Platform Technology Partners now owns 5,377 shares of the home improvement retailer’s stock valued at $1,610,000 after buying an additional 291 shares during the last quarter. Finally, Clearwater Capital Advisors LLC increased its position in shares of Home Depot by 6.5% during the first quarter. Clearwater Capital Advisors LLC now owns 2,025 shares of the home improvement retailer’s stock valued at $606,000 after acquiring an additional 123 shares during the last quarter. 68.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Piper Sandler cut their price target on Home Depot from $327.00 to $323.00 and set a “neutral” rating for the company in a report on Wednesday, November 16th. Jefferies Financial Group lifted their target price on Home Depot from $392.00 to $394.00 and gave the company a “buy” rating in a report on Monday, October 3rd. Cowen began coverage on shares of Home Depot in a report on Wednesday, October 19th. They issued an “outperform” rating on the stock. Truist Financial reduced their price objective on shares of Home Depot from $400.00 to $382.00 and set a “buy” rating for the company in a research note on Wednesday, November 16th. Finally, UBS Group increased their price objective on Home Depot from $360.00 to $370.00 and gave the stock a “buy” rating in a research report on Wednesday, August 17th. Seven investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $346.29.

Insider Activity at Home Depot

In related news, EVP Fahim Siddiqui sold 1,000 shares of Home Depot stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $300.59, for a total value of $300,590.00. Following the sale, the executive vice president now directly owns 6,180 shares in the company, valued at approximately $1,857,646.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Home Depot news, Director Paula Santilli acquired 1,583 shares of the stock in a transaction that occurred on Wednesday, November 16th. The stock was bought at an average cost of $315.80 per share, for a total transaction of $499,911.40. Following the completion of the transaction, the director now owns 1,583 shares of the company’s stock, valued at approximately $499,911.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Fahim Siddiqui sold 1,000 shares of Home Depot stock in a transaction on Friday, September 9th. The shares were sold at an average price of $300.59, for a total value of $300,590.00. Following the completion of the sale, the executive vice president now owns 6,180 shares in the company, valued at approximately $1,857,646.20. The disclosure for this sale can be found here. 0.17% of the stock is owned by company insiders.

Home Depot Stock Down 1.0 %

NYSE:HD traded down $3.37 during midday trading on Thursday, reaching $321.51. 4,243,427 shares of the stock traded hands, compared to its average volume of 4,538,733. The business has a 50-day moving average of $288.63 and a two-hundred day moving average of $292.78. The company has a debt-to-equity ratio of 32.16, a quick ratio of 0.33 and a current ratio of 1.39. The Home Depot, Inc. has a 12-month low of $264.51 and a 12-month high of $420.61. The stock has a market capitalization of $329.14 billion, a PE ratio of 19.38, a price-to-earnings-growth ratio of 1.74 and a beta of 0.95.

Home Depot (NYSE:HDGet Rating) last announced its quarterly earnings data on Tuesday, November 15th. The home improvement retailer reported $4.24 EPS for the quarter, beating the consensus estimate of $4.11 by $0.13. Home Depot had a net margin of 10.87% and a negative return on equity of 3,656.69%. The firm had revenue of $38.87 billion during the quarter, compared to analyst estimates of $37.96 billion. During the same period last year, the firm posted $3.92 EPS. Home Depot’s revenue was up 5.6% on a year-over-year basis. On average, equities analysts forecast that The Home Depot, Inc. will post 16.64 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be given a $1.90 dividend. The ex-dividend date is Wednesday, November 30th. This represents a $7.60 dividend on an annualized basis and a dividend yield of 2.36%. Home Depot’s dividend payout ratio (DPR) is currently 45.81%.

Home Depot announced that its Board of Directors has authorized a share repurchase plan on Thursday, August 18th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the home improvement retailer to repurchase up to 4.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Home Depot Profile

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The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell 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, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.

Further Reading

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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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