Connecticut Wealth Management LLC Boosts Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Connecticut Wealth Management LLC grew its position in The Home Depot, Inc. (NYSE:HD) by 3.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,571 shares of the home improvement retailer’s stock after acquiring an additional 546 shares during the quarter. Connecticut Wealth Management LLC’s holdings in Home Depot were worth $5,016,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Gilbert & Cook Inc. lifted its position in Home Depot by 3.9% during the fourth quarter. Gilbert & Cook Inc. now owns 4,256 shares of the home improvement retailer’s stock worth $1,475,000 after buying an additional 158 shares in the last quarter. Aveo Capital Partners LLC raised its holdings in shares of Home Depot by 4.8% during the 4th quarter. Aveo Capital Partners LLC now owns 2,686 shares of the home improvement retailer’s stock worth $931,000 after acquiring an additional 122 shares during the period. 9258 Wealth Management LLC boosted its position in shares of Home Depot by 4.2% during the 4th quarter. 9258 Wealth Management LLC now owns 13,883 shares of the home improvement retailer’s stock valued at $4,811,000 after acquiring an additional 557 shares during the last quarter. Gryphon Financial Partners LLC grew its holdings in shares of Home Depot by 161.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 6,355 shares of the home improvement retailer’s stock valued at $2,188,000 after purchasing an additional 3,923 shares during the period. Finally, TrinityPoint Wealth LLC increased its position in Home Depot by 4.1% during the fourth quarter. TrinityPoint Wealth LLC now owns 9,840 shares of the home improvement retailer’s stock worth $3,410,000 after purchasing an additional 387 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on HD. Daiwa America raised shares of Home Depot to a “hold” rating in a research note on Thursday, August 15th. Truist Financial lowered their price objective on Home Depot from $396.00 to $395.00 and set a “buy” rating for the company in a research report on Wednesday, August 14th. UBS Group lifted their target price on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Evercore ISI lowered their price target on Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $360.00 price objective on shares of Home Depot in a research report on Thursday, September 12th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $389.04.

Home Depot Stock Performance

Shares of HD opened at $389.97 on Friday. 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 capitalization of $386.70 billion, a PE ratio of 26.15, a PEG ratio of 2.57 and a beta of 1.00. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The stock has a 50-day simple moving average of $364.95 and a 200-day simple moving average of $354.45.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The company had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. During the same quarter in the previous year, the firm earned $4.65 earnings per share. The firm’s quarterly revenue was up .6% on a year-over-year basis. On average, analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.31%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.

Home Depot Company 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.