Wealthspan Partners LLC Decreases Stake in The Home Depot, Inc. (NYSE:HD)

Wealthspan Partners LLC lessened its stake in The Home Depot, Inc. (NYSE:HD) by 18.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,700 shares of the home improvement retailer’s stock after selling 372 shares during the quarter. Wealthspan Partners LLC’s holdings in Home Depot were worth $661,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Redhawk Wealth Advisors Inc. lifted its position in shares of Home Depot by 0.7% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock valued at $1,469,000 after acquiring an additional 25 shares during the period. Insight Inv LLC raised its holdings in Home Depot by 2.0% during the third quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer’s stock worth $505,000 after purchasing an additional 25 shares during the last quarter. Marino Stram & Associates LLC boosted its position in Home Depot by 2.3% during the fourth quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer’s stock worth $431,000 after purchasing an additional 25 shares in the last quarter. Capital City Trust Co. FL grew its holdings in Home Depot by 1.1% in the third quarter. Capital City Trust Co. FL now owns 2,494 shares of the home improvement retailer’s stock valued at $1,011,000 after purchasing an additional 26 shares during the last quarter. Finally, Highline Wealth Partners LLC increased its position in shares of Home Depot by 0.4% in the fourth quarter. Highline Wealth Partners LLC now owns 5,962 shares of the home improvement retailer’s stock valued at $2,319,000 after buying an additional 26 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

HD has been the topic of a number of research reports. Morgan Stanley increased their price objective on shares of Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Barclays raised their price objective on shares of Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Sanford C. Bernstein assumed coverage on Home Depot in a research note on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 target price on the stock. Wells Fargo & Company raised their price target on Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Finally, Mizuho upped their price objective on Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $426.00.

Insider Transactions at Home Depot

In other Home Depot news, EVP Teresa Wynn Roseborough sold 22,084 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the transaction, the executive vice president now directly owns 20,404 shares of the company’s stock, valued at $8,343,399.64. This represents a 51.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Timothy A. Hourigan sold 16,004 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the sale, the executive vice president now directly owns 77,475 shares of the company’s stock, valued at $31,727,562. The trade was a 17.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,188 shares of company stock valued at $15,624,585. 0.10% of the stock is currently owned by insiders.

Home Depot Trading Up 0.7 %

NYSE:HD opened at $411.79 on Wednesday. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37. The business’s 50-day moving average is $407.47 and its two-hundred day moving average is $393.07. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The firm has a market capitalization of $409.05 billion, a PE ratio of 27.97, a price-to-earnings-growth ratio of 4.34 and a beta of 1.05.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same quarter in the prior year, the business earned $3.81 EPS. Home Depot’s quarterly revenue was up 6.6% compared to the same quarter last year. Research analysts predict that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were paid a dividend of $2.25 per share. The ex-dividend date was Wednesday, November 27th. This represents a $9.00 annualized dividend and a dividend yield of 2.19%. Home Depot’s dividend payout ratio is presently 61.14%.

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.