SteelPeak Wealth LLC Raises Stock Position in The Home Depot, Inc. (NYSE:HD)

SteelPeak Wealth LLC lifted its stake in shares of The Home Depot, Inc. (NYSE:HD) by 2.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,280 shares of the home improvement retailer’s stock after acquiring an additional 563 shares during the quarter. SteelPeak Wealth LLC’s holdings in Home Depot were worth $7,799,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of HD. Financial Gravity Asset Management Inc. purchased a new position in Home Depot during the first quarter valued at approximately $406,000. Wealth Management Partners LLC increased its holdings in Home Depot by 0.6% during the first quarter. Wealth Management Partners LLC now owns 6,506 shares of the home improvement retailer’s stock valued at $2,384,000 after buying an additional 36 shares during the period. Arbor Capital Management Inc. ADV increased its holdings in Home Depot by 4.8% during the first quarter. Arbor Capital Management Inc. ADV now owns 4,784 shares of the home improvement retailer’s stock valued at $1,757,000 after buying an additional 221 shares during the period. Disciplined Investors L.L.C. purchased a new position in Home Depot during the fourth quarter valued at approximately $409,000. Finally, ARS Wealth Advisors Group LLC increased its holdings in Home Depot by 0.8% during the first quarter. ARS Wealth Advisors Group LLC now owns 31,728 shares of the home improvement retailer’s stock valued at $11,628,000 after buying an additional 239 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,406 shares of the company’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the transaction, the executive vice president directly owned 17,367 shares in the company, valued at approximately $6,413,285.76. This represents a 23.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Fahim Siddiqui sold 2,600 shares of the company’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total transaction of $954,564.00. Following the transaction, the executive vice president owned 7,951 shares in the company, valued at $2,919,130.14. The trade was a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

HD has been the topic of several analyst reports. Royal Bank Of Canada cut their price target on shares of Home Depot from $424.00 to $399.00 and set a “sector perform” rating on the stock in a report on Thursday, May 15th. Piper Sandler lowered their price objective on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. Guggenheim restated a “buy” rating and set a $450.00 target price on shares of Home Depot in a research report on Wednesday, May 21st. JPMorgan Chase & Co. upped their price target on shares of Home Depot from $410.00 to $418.00 and gave the company an “overweight” rating in a report on Wednesday, May 21st. Finally, Gordon Haskett upped their price target on shares of Home Depot from $350.00 to $360.00 in a report on Tuesday, May 20th. Seven investment 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’s stock. According to data from MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $426.77.

Home Depot Trading Up 0.7%

HD opened at $373.60 on Friday. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28. The company’s 50 day simple moving average is $366.03 and its two-hundred day simple moving average is $375.75. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37. The firm has a market capitalization of $371.70 billion, a price-to-earnings ratio of 25.35, a price-to-earnings-growth ratio of 3.53 and a beta of 1.00.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). The business 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 company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the business earned $3.63 earnings per share. Analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were given a dividend of $2.30 per share. The ex-dividend date was Thursday, June 5th. This represents a $9.20 annualized dividend and a yield of 2.46%. Home Depot’s payout ratio is currently 62.42%.

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.