Austin Private Wealth LLC Lowers Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Austin Private Wealth LLC cut its stake in shares of The Home Depot, Inc. (NYSE:HD) by 3.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,540 shares of the home improvement retailer’s stock after selling 58 shares during the quarter. Austin Private Wealth LLC’s holdings in Home Depot were worth $534,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. BCK Partners Inc. purchased a new position in Home Depot during the first quarter valued at approximately $2,933,000. Fairfield Bush & CO. bought a new stake in Home Depot during the 1st quarter valued at $27,000. Ergoteles LLC purchased a new position in shares of Home Depot in the 1st quarter valued at $1,554,000. Equitable Holdings Inc. raised its position in shares of Home Depot by 7.4% in the 1st quarter. Equitable Holdings Inc. now owns 14,628 shares of the home improvement retailer’s stock worth $4,379,000 after acquiring an additional 1,007 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of Home Depot by 3.2% during the 1st quarter. First Trust Advisors LP now owns 791,318 shares of the home improvement retailer’s stock worth $236,865,000 after purchasing an additional 24,640 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on HD shares. Wells Fargo & Company increased their price target on shares of Home Depot from $385.00 to $400.00 and gave the company an “overweight” rating in a research report on Tuesday, February 13th. Piper Sandler raised shares of Home Depot from a “neutral” rating to an “overweight” rating and increased their target price for the company from $311.00 to $400.00 in a research report on Tuesday, January 16th. Royal Bank of Canada increased their price objective on Home Depot from $299.00 to $377.00 and gave the company a “sector perform” rating in a report on Monday, February 26th. StockNews.com upgraded Home Depot from a “hold” rating to a “buy” rating in a research note on Wednesday, March 20th. Finally, Guggenheim increased their price target on Home Depot from $370.00 to $390.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, Home Depot has an average rating of “Moderate Buy” and an average price target of $368.76.

Home Depot Price Performance

Shares of Home Depot stock opened at $383.57 on Friday. The company has a debt-to-equity ratio of 40.94, a current ratio of 1.35 and a quick ratio of 0.40. The business has a 50 day simple moving average of $368.47 and a two-hundred day simple moving average of $334.54. The stock has a market capitalization of $380.13 billion, a P/E ratio of 25.40, a PEG ratio of 2.55 and a beta of 0.99. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $396.87.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, beating the consensus estimate of $2.77 by $0.05. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The firm had revenue of $34.79 billion during the quarter, compared to the consensus estimate of $34.64 billion. During the same period in the prior year, the company earned $3.30 EPS. The firm’s revenue was down 2.9% compared to the same quarter last year. As a group, analysts predict that The Home Depot, Inc. will post 15.39 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Wednesday, March 6th. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 dividend on an annualized basis and a yield of 2.35%. Home Depot’s payout ratio is presently 59.60%.

Insider Activity at Home Depot

In other Home Depot news, EVP Timothy A. Hourigan sold 8,996 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total value of $3,317,185.04. Following the transaction, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at approximately $27,950,123.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the sale, the chief executive officer now owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Timothy A. Hourigan sold 8,996 shares of Home Depot stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the transaction, the executive vice president now directly owns 75,799 shares in the company, valued at $27,950,123.26. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.

About Home Depot

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.