Meridian Wealth Management LLC Acquires 489 Shares of The Home Depot, Inc. (NYSE:HD)

Meridian Wealth Management LLC increased its position in The Home Depot, Inc. (NYSE:HD) by 1.4% in the first quarter, Holdings Channel.com reports. The firm owned 34,499 shares of the home improvement retailer’s stock after acquiring an additional 489 shares during the period. Meridian Wealth Management LLC’s holdings in Home Depot were worth $12,644,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Navigoe LLC acquired a new stake in Home Depot in the fourth quarter worth about $29,000. Abound Financial LLC acquired a new stake in Home Depot in the first quarter worth about $31,000. Iron Horse Wealth Management LLC grew its position in shares of Home Depot by 86.8% during the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer’s stock worth $36,000 after buying an additional 46 shares during the period. Quarry LP grew its position in shares of Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after buying an additional 66 shares during the period. Finally, Quest 10 Wealth Builders Inc. grew its position in shares of Home Depot by 35.7% during the 1st quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer’s stock worth $42,000 after buying an additional 30 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Truist Financial lifted their price objective on Home Depot from $393.00 to $417.00 and gave the company a “buy” rating in a report on Tuesday, May 20th. Evercore ISI set a $400.00 price objective on Home Depot and gave the company an “outperform” rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. lifted their price objective on Home Depot from $410.00 to $418.00 and gave the company an “overweight” rating in a report on Wednesday, May 21st. TD Securities cut Home Depot to a “buy” rating in a report on Monday, June 2nd. Finally, Gordon Haskett boosted their target price on Home Depot from $350.00 to $360.00 in a research note on Tuesday, May 20th. Seven investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and an average target price of $426.77.

Insiders Place Their Bets

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the sale, the executive vice president directly owned 17,367 shares of the company’s stock, valued at approximately $6,413,285.76. This represents a 23.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the sale, the executive vice president directly owned 7,951 shares in the company, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Home Depot Stock Up 0.4%

HD stock opened at $387.77 on Monday. The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 5.95. The firm has a market capitalization of $385.80 billion, a PE ratio of 26.31, a PEG ratio of 3.69 and a beta of 1.00. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37. The business’s 50 day simple moving average is $367.64 and its 200 day simple moving average is $371.97.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The business had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. During the same period in the previous year, the firm posted $3.63 earnings per share. The firm’s revenue was up 9.4% compared to the same quarter last year. As a group, research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot’s dividend payout ratio is currently 62.42%.

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.