Nova R Wealth Inc. Buys 76 Shares of The Home Depot, Inc. (NYSE:HD)

Nova R Wealth Inc. increased its position in The Home Depot, Inc. (NYSE:HD) by 11.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 724 shares of the home improvement retailer’s stock after acquiring an additional 76 shares during the quarter. Nova R Wealth Inc.’s holdings in Home Depot were worth $265,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Asset Planning Services Inc. LA ADV boosted its holdings in Home Depot by 99,400.7% in the 1st quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer’s stock valued at $6,954,431,000 after purchasing an additional 18,956,701 shares during the period. Norges Bank purchased a new stake in shares of Home Depot in the fourth quarter worth $5,032,910,000. GAMMA Investing LLC boosted its stake in Home Depot by 39,194.1% during the first quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer’s stock valued at $37,517,230,000 after buying an additional 10,210,851 shares during the period. Raymond James Financial Inc. purchased a new position in Home Depot during the fourth quarter worth about $2,212,546,000. Finally, Proficio Capital Partners LLC grew its position in Home Depot by 21,394.9% during the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock worth $793,486,000 after buying an additional 2,030,372 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on HD shares. JPMorgan Chase & Co. lifted their price target on Home Depot from $410.00 to $418.00 and gave the company an “overweight” rating in a research report on Wednesday, May 21st. Truist Financial lifted their target price on shares of Home Depot from $393.00 to $417.00 and gave the company a “buy” rating in a research report on Tuesday, May 20th. Gordon Haskett increased their price target on shares of Home Depot from $350.00 to $360.00 in a report on Tuesday, May 20th. Wells Fargo & Company dropped their price objective on shares of Home Depot from $445.00 to $420.00 and set an “overweight” rating for the company in a report on Thursday, May 8th. Finally, Royal Bank Of Canada cut their target price on shares of Home Depot from $424.00 to $399.00 and set a “sector perform” rating for the company in a research report on Thursday, May 15th. Seven research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $426.77.

Insider Transactions at Home Depot

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,406 shares of the company’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the completion of the transaction, the executive vice president now owns 17,367 shares of the company’s stock, valued at $6,413,285.76. This represents a 23.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the completion of the sale, the executive vice president now owns 7,951 shares of the company’s stock, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.

Home Depot Stock Performance

Shares of HD stock opened at $361.96 on Thursday. The company has a market capitalization of $360.12 billion, a P/E ratio of 24.56, a PEG ratio of 3.43 and a beta of 1.02. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.28 and a current ratio of 1.09. The stock has a 50 day moving average price of $363.10 and a two-hundred day moving average price of $378.66.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing the consensus estimate of $3.59 by ($0.03). The firm had revenue of $39.86 billion during the quarter, compared to analysts’ expectations of $39.24 billion. Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.63 earnings per share. Analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were paid a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.54%. The ex-dividend date was Thursday, June 5th. Home Depot’s dividend payout ratio (DPR) is 62.42%.

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.