The Home Depot, Inc. (NYSE:HD) is Signature Wealth Management Group’s 4th Largest Position

Signature Wealth Management Group increased its position in shares of The Home Depot, Inc. (NYSE:HD) by 3.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,409 shares of the home improvement retailer’s stock after acquiring an additional 437 shares during the period. Home Depot comprises approximately 2.3% of Signature Wealth Management Group’s portfolio, making the stock its 4th biggest holding. Signature Wealth Management Group’s holdings in Home Depot were worth $5,605,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of HD. Synergy Asset Management LLC bought a new position in Home Depot during the fourth quarter worth about $26,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Home Depot in the 4th quarter valued at $28,000. Bradley & Co. Private Wealth Management LLC bought a new stake in Home Depot in the 4th quarter valued at $32,000. Legacy Investment Solutions LLC bought a new stake in Home Depot during the 3rd quarter worth about $41,000. Finally, Marshall Investment Management LLC bought a new stake in shares of Home Depot in the 4th quarter valued at about $41,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Trading Up 1.1 %

HD opened at $351.16 on Friday. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. 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 company has a fifty day moving average of $397.43 and a 200-day moving average of $399.44. The stock has a market cap of $348.83 billion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. During the same period in the prior year, the company posted $2.82 earnings per share. Home Depot’s revenue for the quarter was up 14.1% compared to the same quarter last year. On average, sell-side analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.62%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is presently 61.66%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on HD shares. Piper Sandler decreased their target price on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. JPMorgan Chase & Co. upped their price target on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and upped their price target for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. Truist Financial cut their price target on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Finally, Wedbush reissued an “outperform” rating and issued a $440.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $436.50.

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.