Denver PWM LLC Buys 701 Shares of The Home Depot, Inc. (NYSE:HD)

Key Points

• Denver PWM LLC significantly increased its stake in The Home Depot, Inc. by 70,100.0% in the first quarter, now holding shares valued at $257,000.
• The Home Depot reported earnings of $3.56 per share, missing estimates, while revenues reached $39.86 billion, surpassing analyst expectations.
• Home Depot recently declared a quarterly dividend of $2.30 per share, yielding a total annualized dividend of $9.20 and a dividend payout ratio of 62.42%.

Denver PWM LLC grew its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 70,100.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 702 shares of the home improvement retailer's stock after purchasing an additional 701 shares during the period. Denver PWM LLC's holdings in Home Depot were worth $257,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Navigoe LLC bought a new stake in shares of Home Depot during the 4th quarter worth approximately $29,000. Abound Financial LLC bought a new stake in shares of Home Depot during the 1st quarter worth approximately $31,000. Iron Horse Wealth Management LLC raised its stake in shares of Home Depot by 86.8% during the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock worth $36,000 after purchasing an additional 46 shares in the last quarter. Quarry LP increased its holdings in shares of Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock worth $37,000 after acquiring an additional 66 shares during the last quarter. Finally, Quest 10 Wealth Builders Inc. increased its holdings in shares of Home Depot by 35.7% during the 1st quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock worth $42,000 after acquiring an additional 30 shares during the last quarter. Institutional investors own 70.86% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on HD shares. Gordon Haskett boosted their target price on Home Depot from $350.00 to $360.00 in a report on Tuesday, May 20th. Morgan Stanley reiterated an "overweight" rating and issued a $415.00 price target (up previously from $410.00) on shares of Home Depot in a research note on Tuesday, May 20th. DA Davidson lowered their price target on shares of Home Depot from $470.00 to $450.00 in a report on Tuesday, May 20th. Sanford C. Bernstein reissued a "market perform" rating and issued a $398.00 price target (up from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. Finally, Royal Bank Of Canada lowered 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. Seven equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Home Depot presently has a consensus rating of "Moderate Buy" and an average target price of $426.77.

Insider Buying and Selling

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

Home Depot Price Performance

NYSE:HD traded down $1.32 during trading hours on Tuesday, hitting $375.91. The company's stock had a trading volume of 1,072,944 shares, compared to its average volume of 3,539,204. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37. 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 stock has a fifty day simple moving average of $365.55 and a 200-day simple moving average of $373.66. The company has a market capitalization of $374.00 billion, a P/E ratio of 25.50, a PEG ratio of 3.57 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last released its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The business had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. During the same quarter in the prior year, the firm earned $3.63 EPS. The business's revenue was up 9.4% on a year-over-year basis. On average, analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date was Thursday, June 5th. Home Depot's dividend 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.