Granite Bay Wealth Management LLC Takes $5.42 Million Position in The Home Depot, Inc. (NYSE:HD)

Granite Bay Wealth Management LLC purchased a new position in shares of The Home Depot, Inc. (NYSE:HD) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 13,925 shares of the home improvement retailer’s stock, valued at approximately $5,417,000. Home Depot accounts for approximately 2.0% of Granite Bay Wealth Management LLC’s holdings, making the stock its 19th largest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HD. Fairway Wealth LLC purchased a new stake in Home Depot during the 2nd quarter valued at approximately $25,000. Legacy Investment Solutions LLC purchased a new stake in shares of Home Depot during the third quarter worth approximately $41,000. Livelsberger Financial Advisory acquired a new stake in shares of Home Depot during the third quarter worth $46,000. Strategic Investment Solutions Inc. IL purchased a new position in Home Depot in the 2nd quarter valued at $47,000. Finally, Quarry LP raised its position in Home Depot by 36.0% during the 2nd quarter. Quarry LP now owns 136 shares of the home improvement retailer’s stock worth $47,000 after buying an additional 36 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Trading Down 0.1 %

Shares of Home Depot stock opened at $389.65 on Tuesday. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. The business’s fifty day moving average is $406.03 and its two-hundred day moving average is $386.31. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The firm has a market cap of $387.06 billion, a PE ratio of 26.47, a P/E/G ratio of 2.90 and a beta of 1.05.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $39.31 billion. During the same period last year, the company earned $3.81 EPS. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. Analysts anticipate that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot’s dividend payout ratio (DPR) is 61.14%.

Insiders Place Their Bets

In related news, EVP Ann Marie Campbell sold 100 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total value of $40,258.00. Following the transaction, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at approximately $5,018,159.70. This trade represents a 0.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Timothy A. Hourigan sold 16,004 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $409.52, for a total value 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 approximately $31,727,562. This trade represents a 17.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,188 shares of company stock valued at $15,624,585 over the last quarter. Company insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on HD shares. Stifel Nicolaus boosted their price target on shares of Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Telsey Advisory Group upgraded Home Depot from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $360.00 to $455.00 in a research report on Friday, November 8th. Wells Fargo & Company raised their price target on Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Truist Financial upped their price objective on Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Guggenheim raised their target price on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $426.00.

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.