Concentric Wealth Management LLC Increases Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Concentric Wealth Management LLC lifted its holdings in shares of The Home Depot, Inc. (NYSE:HDFree Report) by 2.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,915 shares of the home improvement retailer’s stock after purchasing an additional 252 shares during the quarter. Concentric Wealth Management LLC’s holdings in Home Depot were worth $3,783,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bare Financial Services Inc purchased a new stake in Home Depot during the 4th quarter worth about $26,000. Frank Rimerman Advisors LLC purchased a new position in Home Depot in the fourth quarter worth approximately $27,000. Keener Financial Planning LLC purchased a new stake in shares of Home Depot in the 4th quarter valued at approximately $31,000. PFG Private Wealth Management LLC raised its holdings in shares of Home Depot by 53.3% in the 4th quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 32 shares in the last quarter. Finally, Gilfoyle & Co LLC purchased a new stake in shares of Home Depot during the 4th quarter worth $35,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

Shares of NYSE:HD traded up $8.35 during midday trading on Wednesday, hitting $344.07. The stock had a trading volume of 4,792,735 shares, compared to its average volume of 3,410,992. The company has a current ratio of 1.34, a quick ratio of 0.42 and a debt-to-equity ratio of 23.11. The company has a market capitalization of $341.18 billion, a PE ratio of 23.08, a P/E/G ratio of 2.29 and a beta of 1.00. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $396.87. The stock has a 50 day moving average price of $337.99 and a two-hundred day moving average price of $350.51.

Home Depot (NYSE:HDGet Free Report) last released its earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.61 by $0.02. The company had revenue of $36.42 billion for the quarter, compared to analysts’ expectations of $36.65 billion. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.82 EPS. As a group, equities analysts predict that The Home Depot, Inc. will post 15.3 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th will be given a dividend of $2.25 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $9.00 annualized dividend and a dividend yield of 2.62%. Home Depot’s payout ratio is currently 60.36%.

Insider Transactions at Home Depot

In related news, EVP Matt Carey sold 56,008 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the sale, the executive vice president now owns 33,325 shares of the company’s stock, valued at $11,503,123.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Truist Financial cut their price target on Home Depot from $417.00 to $406.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. HSBC lowered their price target on Home Depot from $323.00 to $318.00 and set a “reduce” rating for the company in a report on Wednesday, May 15th. Mizuho started coverage on shares of Home Depot in a research note on Tuesday, March 19th. They issued a “buy” rating and a $415.00 price target on the stock. Guggenheim restated a “buy” rating and set a $390.00 price objective on shares of Home Depot in a research report on Friday, April 5th. Finally, Zelman & Associates raised shares of Home Depot from a “neutral” rating to an “outperform” rating in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $377.46.

Read Our Latest Research Report on HD

Home Depot Company Profile

(Free Report)

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.

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

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