Provence Wealth Management Group Increases Position in The Home Depot, Inc. (NYSE:HD)

Provence Wealth Management Group boosted its position in The Home Depot, Inc. (NYSE:HD) by 22.6% in the 4th quarter, Holdings Channel reports. The fund owned 2,803 shares of the home improvement retailer’s stock after purchasing an additional 516 shares during the period. Provence Wealth Management Group’s holdings in Home Depot were worth $971,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bare Financial Services Inc purchased a new position in shares of Home Depot during the 4th quarter worth about $26,000. Keener Financial Planning LLC acquired a new position in Home Depot during the fourth quarter worth approximately $31,000. PFG Private Wealth Management LLC raised its stake 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 purchasing an additional 32 shares during the period. Gilfoyle & Co LLC acquired a new position in shares of Home Depot in the 4th quarter valued at $35,000. Finally, Briaud Financial Planning Inc acquired a new position in shares of Home Depot in the 3rd quarter valued at $41,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Guggenheim reaffirmed a “buy” rating and issued a $390.00 target price on shares of Home Depot in a research report on Friday, April 5th. Truist Financial reaffirmed a “buy” rating and issued a $417.00 price objective on shares of Home Depot in a research note on Wednesday, April 17th. Royal Bank of Canada increased their target price on shares of Home Depot from $299.00 to $377.00 and gave the stock a “sector perform” rating in a research report on Monday, February 26th. DA Davidson reaffirmed a “neutral” rating and set a $370.00 price target on shares of Home Depot in a research report on Monday, April 1st. Finally, Citigroup increased their price objective on shares of Home Depot from $333.00 to $415.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $375.96.

Insiders Place Their Bets

In related news, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the completion of the sale, the executive vice president now owns 75,799 shares of the company’s stock, valued at approximately $27,950,123.26. The sale 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 stock in a transaction on Thursday, February 22nd. The stock was 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 $39,712,878.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were 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 directly owns 75,799 shares of the company’s stock, valued at approximately $27,950,123.26. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by corporate insiders.

Home Depot Stock Up 2.2 %

Shares of HD traded up $7.32 during midday trading on Friday, hitting $342.85. The company had a trading volume of 4,165,054 shares, compared to its average volume of 3,606,830. The stock has a market cap of $339.77 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 2.28 and a beta of 1.01. The company’s 50 day moving average price is $361.75 and its 200 day moving average price is $342.08. The company has a quick ratio of 0.40, a current ratio of 1.35 and a debt-to-equity ratio of 40.94. The Home Depot, Inc. has a 52 week low of $274.26 and a 52 week high of $396.87.

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

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were paid a dividend of $2.25 per share. The ex-dividend date of this dividend was Wednesday, March 6th. This is a boost from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 annualized dividend and a yield of 2.63%. Home Depot’s dividend payout ratio (DPR) is 59.60%.

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.