NewEdge Wealth LLC Purchases 9,614 Shares of The Home Depot, Inc. (NYSE:HD)

Key Points

• NewEdge Wealth LLC increased its stake in The Home Depot by 5.6% during the first quarter, acquiring an additional 9,614 shares, bringing its total ownership to 180,119 shares valued at approximately $66 million.
• Stock analysts have set a consensus price target of $426.77 for Home Depot, with the company currently holding a rating of "Moderate Buy" from most brokerage firms.
• Home Depot declared a quarterly dividend of $2.30 per share, translating to an annual yield of 2.5%, with a payout ratio of 62.42%.

NewEdge Wealth LLC lifted its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 5.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 180,119 shares of the home improvement retailer's stock after acquiring an additional 9,614 shares during the period. Home Depot makes up about 1.2% of NewEdge Wealth LLC's holdings, making the stock its 11th largest holding. NewEdge Wealth LLC's holdings in Home Depot were worth $66,012,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in HD. Invst LLC grew its holdings in shares of Home Depot by 0.4% in the fourth quarter. Invst LLC now owns 6,738 shares of the home improvement retailer's stock valued at $2,621,000 after purchasing an additional 28 shares in the last quarter. Financial Insights Inc. boosted its stake in shares of Home Depot by 3.3% during the first quarter. Financial Insights Inc. now owns 880 shares of the home improvement retailer's stock valued at $323,000 after purchasing an additional 28 shares in the last quarter. Wayfinding Financial LLC lifted its holdings in shares of Home Depot by 1.2% during the 1st quarter. Wayfinding Financial LLC now owns 2,353 shares of the home improvement retailer's stock valued at $862,000 after purchasing an additional 28 shares during the last quarter. Pure Portfolios Holdings LLC raised its position in shares of Home Depot by 4.7% in the 1st quarter. Pure Portfolios Holdings LLC now owns 623 shares of the home improvement retailer's stock valued at $228,000 after purchasing an additional 28 shares during the last quarter. Finally, First Interstate Bank increased its position in shares of Home Depot by 0.3% in the 1st quarter. First Interstate Bank now owns 9,020 shares of the home improvement retailer's stock valued at $3,306,000 after acquiring an additional 28 shares during the period. Institutional investors own 70.86% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HD. Evercore ISI set a $400.00 price target on Home Depot and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. DA Davidson lowered their price objective on shares of Home Depot from $470.00 to $450.00 in a research note on Tuesday, May 20th. Jefferies Financial Group decreased their target price on Home Depot from $461.00 to $456.00 in a research report on Tuesday, May 20th. Truist Financial upped their price target on Home Depot from $393.00 to $417.00 and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Finally, Stifel Nicolaus raised shares of Home Depot from a "hold" rating to a "buy" rating and increased their target price for the company from $405.00 to $425.00 in a report on Wednesday, May 21st. Seven 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 company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $426.77.

Insiders Place Their Bets

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction dated 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 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 transaction of $954,564.00. Following the completion of the transaction, the executive vice president owned 7,951 shares in the company, 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. Corporate insiders own 0.10% of the company's stock.

Home Depot Trading Up 1.6%

Shares of HD stock opened at $373.55 on Friday. The company has a market cap of $371.66 billion, a PE ratio of 25.34, a price-to-earnings-growth ratio of 3.55 and a beta of 1.00. 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's 50 day simple moving average is $365.84 and its two-hundred day simple moving average is $373.17. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37.

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

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were given a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.5%. Home Depot's dividend payout ratio is presently 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.

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