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

Congress Wealth Management LLC DE raised its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 2.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,270 shares of the home improvement retailer’s stock after purchasing an additional 2,160 shares during the period. Congress Wealth Management LLC DE’s holdings in Home Depot were worth $41,338,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Synergy Asset Management LLC bought a new position in Home Depot in the fourth quarter worth about $26,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Home Depot during the 4th quarter worth approximately $28,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Home Depot during the 4th quarter worth approximately $32,000. NewSquare Capital LLC grew its holdings in shares of Home Depot by 200.0% during the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock worth $40,000 after acquiring an additional 68 shares during the period. Finally, Legacy Investment Solutions LLC bought a new position in shares of Home Depot in the 3rd quarter worth approximately $41,000. 70.86% of the stock is currently owned by institutional investors.

Home Depot Stock Performance

HD stock opened at $352.12 on Monday. 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 Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. The company has a market cap of $349.78 billion, a P/E ratio of 23.92, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The stock’s fifty day moving average price is $393.97 and its 200-day moving average price is $399.14.

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

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a dividend of $2.30 per share. This is a boost from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s dividend payout ratio is currently 61.66%.

Analysts Set New Price Targets

Several brokerages recently weighed in on HD. Wells Fargo & Company upped their price target on Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Piper Sandler decreased their price target on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Robert W. Baird dropped their price objective on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Wedbush restated an “outperform” rating and issued a $440.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Finally, Guggenheim reiterated a “buy” rating and set a $450.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.