Drive Wealth Management LLC Reduces Stock Position in The Home Depot, Inc. (NYSE:HD)

Drive Wealth Management LLC lowered its stake in The Home Depot, Inc. (NYSE:HD) by 8.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,754 shares of the home improvement retailer’s stock after selling 329 shares during the quarter. Drive Wealth Management LLC’s holdings in Home Depot were worth $1,440,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Congress Wealth Management LLC DE lifted its stake in shares of Home Depot by 3.7% during the 3rd quarter. Congress Wealth Management LLC DE now owns 88,444 shares of the home improvement retailer’s stock valued at $26,725,000 after buying an additional 3,162 shares in the last quarter. Hartline Investment Corp lifted its stake in shares of Home Depot by 3.0% during the 4th quarter. Hartline Investment Corp now owns 15,574 shares of the home improvement retailer’s stock valued at $5,397,000 after buying an additional 460 shares in the last quarter. Wolf Group Capital Advisors lifted its stake in shares of Home Depot by 6.1% during the 4th quarter. Wolf Group Capital Advisors now owns 7,513 shares of the home improvement retailer’s stock valued at $2,604,000 after buying an additional 430 shares in the last quarter. Alliance Wealth Management Group bought a new stake in Home Depot in the 4th quarter valued at $253,000. Finally, Psagot Value Holdings Ltd. Israel increased its holdings in Home Depot by 8.0% in the 3rd quarter. Psagot Value Holdings Ltd. Israel now owns 2,700 shares of the home improvement retailer’s stock valued at $819,000 after acquiring an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on HD shares. Evercore ISI reduced their price target on shares of Home Depot from $420.00 to $415.00 and set an “outperform” rating on the stock in a report on Tuesday, April 16th. Truist Financial reiterated a “buy” rating and issued a $417.00 price target on shares of Home Depot in a report on Wednesday, April 17th. Mizuho assumed coverage on shares of Home Depot in a report on Tuesday, March 19th. They issued a “buy” rating and a $415.00 target price on the stock. Zelman & Associates upgraded shares of Home Depot from a “neutral” rating to an “outperform” rating in a report on Tuesday, April 2nd. Finally, Wedbush boosted their target price on shares of Home Depot from $380.00 to $410.00 and gave the stock an “outperform” rating in a report on Monday, April 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and an average target price of $375.96.

Insider Activity

In related news, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the sale, the chief executive officer now directly owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the sale, the chief executive officer now directly owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the transaction, the executive vice president now owns 75,799 shares in the company, valued at $27,950,123.26. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Home Depot Stock Performance

HD stock traded up $3.11 on Friday, hitting $335.09. The company’s stock had a trading volume of 2,465,262 shares, compared to its average volume of 3,779,238. The firm has a 50 day moving average of $364.77 and a two-hundred day moving average of $340.68. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $396.87. The stock has a market cap of $332.08 billion, a price-to-earnings ratio of 22.19, a price-to-earnings-growth ratio of 2.21 and a beta of 0.98. The company has a current ratio of 1.35, a quick ratio of 0.40 and a debt-to-equity ratio of 40.94.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.05. The company had revenue of $34.79 billion during the quarter, compared to the consensus estimate of $34.64 billion. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. Home Depot’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.30 EPS. Equities analysts predict that The Home Depot, Inc. will post 15.37 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend was Wednesday, March 6th. This is an increase from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s dividend payout ratio (DPR) is currently 59.60%.

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.