Institute for Wealth Management LLC. Decreases Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Institute for Wealth Management LLC. lowered its stake in shares of The Home Depot, Inc. (NYSE:HD) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,673 shares of the home improvement retailer’s stock after selling 141 shares during the period. Institute for Wealth Management LLC.’s holdings in Home Depot were worth $1,966,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in HD. Fairfield Bush & CO. acquired a new position in Home Depot during the first quarter worth about $27,000. KB Financial Partners LLC acquired a new position in Home Depot during the first quarter worth about $28,000. Keener Financial Planning LLC acquired a new position in Home Depot during the fourth quarter worth about $31,000. PFG Private Wealth Management LLC raised its position in Home Depot by 53.3% during the fourth quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock worth $32,000 after acquiring an additional 32 shares during the last quarter. Finally, Studio Investment Management LLC acquired a new position in Home Depot during the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on HD. Oppenheimer cut shares of Home Depot from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. DA Davidson restated a “neutral” rating and set a $370.00 target price on shares of Home Depot in a research report on Monday, April 1st. Wedbush lifted their target price on shares of Home Depot from $380.00 to $410.00 and gave the stock an “outperform” rating in a research report on Monday, April 1st. Zelman & Associates raised shares of Home Depot from a “neutral” rating to an “outperform” rating in a research report on Tuesday, April 2nd. Finally, TD Cowen boosted their price objective on shares of Home Depot from $415.00 to $440.00 and gave the company an “outperform” rating in a research report on Monday, March 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $375.96.

Home Depot Stock Performance

Shares of HD stock opened at $335.36 on Friday. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $396.87. The company has a debt-to-equity ratio of 40.94, a quick ratio of 0.40 and a current ratio of 1.35. The company has a 50 day moving average price of $367.36 and a 200 day moving average price of $339.21. The firm has a market capitalization of $332.35 billion, a price-to-earnings ratio of 22.21, a price-to-earnings-growth ratio of 2.22 and a beta of 0.98.

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

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were paid a dividend of $2.25 per share. This is an increase from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 annualized dividend and a yield of 2.68%. The ex-dividend date was Wednesday, March 6th. Home Depot’s payout ratio is currently 59.60%.

Insiders Place Their Bets

In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the sale, the chief executive officer now directly owns 107,731 shares in the company, valued at $39,712,878.53. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the sale, the chief executive officer now directly owns 107,731 shares in the company, valued at $39,712,878.53. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

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.