Concord Wealth Partners Buys 1,417 Shares of The Home Depot, Inc. (NYSE:HD)

Concord Wealth Partners raised its position in shares of The Home Depot, Inc. (NYSE:HD) by 17.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 9,560 shares of the home improvement retailer’s stock after purchasing an additional 1,417 shares during the quarter. Concord Wealth Partners’ holdings in Home Depot were worth $3,313,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Keener Financial Planning LLC bought a new position in shares of Home Depot in the 4th quarter worth about $31,000. PFG Private Wealth Management LLC boosted its holdings in shares of Home Depot by 53.3% during the 4th quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock valued at $32,000 after acquiring an additional 32 shares during the last quarter. Gilfoyle & Co LLC purchased a new stake in shares of Home Depot during the 4th quarter valued at about $35,000. Briaud Financial Planning Inc purchased a new stake in shares of Home Depot during the 3rd quarter valued at about $41,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Home Depot during the 3rd quarter valued at about $64,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on HD shares. Wells Fargo & Company raised their price objective on shares of Home Depot from $385.00 to $400.00 and gave the stock an “overweight” rating in a report on Tuesday, February 13th. The Goldman Sachs Group lifted their price objective on shares of Home Depot from $347.00 to $393.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. Piper Sandler upgraded shares of Home Depot from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $311.00 to $400.00 in a research report on Tuesday, January 16th. Barclays upgraded shares of Home Depot from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $325.00 to $372.00 in a research report on Thursday, January 4th. Finally, Telsey Advisory Group lifted their price objective on shares of Home Depot from $335.00 to $360.00 and gave the company a “market perform” rating in a research report on Monday, April 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $375.96.

Insiders Place Their Bets

In related news, EVP Timothy A. Hourigan sold 8,996 shares of the firm’s 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 completion of the sale, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at approximately $27,950,123.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Home Depot news, 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 value of $3,317,185.04. Following the completion of 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 SEC, which is accessible through this hyperlink. Also, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Home Depot Stock Performance

NYSE:HD traded down $0.12 during midday trading on Wednesday, hitting $334.10. The company’s stock had a trading volume of 1,881,824 shares, compared to its average volume of 3,323,604. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $396.87. The firm’s 50 day moving average is $363.69 and its 200-day moving average is $341.88. 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 firm has a market cap of $331.10 billion, a P/E ratio of 21.91, a P/E/G ratio of 2.24 and a beta of 0.98.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.05. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The company had revenue of $34.79 billion for the quarter, compared to the consensus estimate of $34.64 billion. During the same quarter in the prior year, the company earned $3.30 EPS. Home Depot’s quarterly revenue was down 2.9% on a year-over-year basis. Equities analysts anticipate that The Home Depot, Inc. will post 15.37 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were paid a $2.25 dividend. The ex-dividend date was Wednesday, March 6th. This is an increase from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.69%. Home Depot’s dividend payout ratio (DPR) is 59.60%.

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.