Inlight Wealth Management LLC Makes New $347,000 Investment in The Home Depot, Inc. (NYSE:HD)

Inlight Wealth Management LLC purchased a new stake in The Home Depot, Inc. (NYSE:HD) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 892 shares of the home improvement retailer’s stock, valued at approximately $347,000.

Several other hedge funds also recently made changes to their positions in the stock. POM Investment Strategies LLC grew its holdings in Home Depot by 1.1% during the 4th quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer’s stock valued at $824,000 after buying an additional 24 shares in the last quarter. Center for Financial Planning Inc. lifted its holdings in shares of Home Depot by 0.5% in the fourth quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer’s stock worth $1,810,000 after buying an additional 24 shares in the last quarter. Marino Stram & Associates LLC boosted its position in shares of Home Depot by 2.3% in the fourth quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer’s stock valued at $431,000 after acquiring an additional 25 shares during the period. Live Oak Private Wealth LLC grew its stake in Home Depot by 0.5% during the fourth quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer’s stock valued at $1,912,000 after acquiring an additional 25 shares in the last quarter. Finally, Mezzasalma Advisors LLC increased its holdings in Home Depot by 4.0% during the 4th quarter. Mezzasalma Advisors LLC now owns 655 shares of the home improvement retailer’s stock worth $255,000 after acquiring an additional 25 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Price Performance

HD stock opened at $353.38 on Friday. The stock has a market capitalization of $351.27 billion, a price-to-earnings ratio of 24.01, a PEG ratio of 4.03 and a beta of 1.09. The firm’s 50-day moving average price is $376.45 and its two-hundred day moving average price is $396.27. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. The company had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. Home Depot’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.82 EPS. As a group, equities analysts predict 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 was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date was Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is currently 61.66%.

Analysts Set New Price Targets

HD has been the subject of several analyst reports. Telsey Advisory Group reissued an “outperform” rating and issued a $455.00 price target on shares of Home Depot in a report on Wednesday, February 26th. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and lifted their price objective for the company from $356.00 to $410.00 in a research note on Wednesday, February 26th. Royal Bank of Canada decreased their target price on Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. Guggenheim reiterated a “buy” rating and set a $450.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Finally, Robert W. Baird decreased 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 report on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $434.08.

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.