Quadrant Private Wealth Management LLC Grows Stake in The Home Depot, Inc. (NYSE:HD)

Quadrant Private Wealth Management LLC increased its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 62.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,465 shares of the home improvement retailer's stock after buying an additional 2,862 shares during the period. Quadrant Private Wealth Management LLC's holdings in Home Depot were worth $2,736,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of HD. Hurlow Wealth Management Group Inc. increased its stake in Home Depot by 1.3% during the fourth quarter. Hurlow Wealth Management Group Inc. now owns 2,137 shares of the home improvement retailer's stock worth $831,000 after acquiring an additional 27 shares during the last quarter. Invst LLC lifted its position in 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 buying an additional 28 shares during the last quarter. Financial Insights Inc. boosted its position in shares of Home Depot by 3.3% during the 1st quarter. Financial Insights Inc. now owns 880 shares of the home improvement retailer's stock worth $323,000 after purchasing an additional 28 shares during the period. Wayfinding Financial LLC lifted its stake in Home Depot by 1.2% during the first quarter. Wayfinding Financial LLC now owns 2,353 shares of the home improvement retailer's stock worth $862,000 after purchasing an additional 28 shares in the last quarter. Finally, Pure Portfolios Holdings LLC grew its stake in shares of Home Depot by 4.7% in the first quarter. Pure Portfolios Holdings LLC now owns 623 shares of the home improvement retailer's stock valued at $228,000 after buying an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Evercore ISI set a $400.00 price target on shares of Home Depot and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. Telsey Advisory Group restated an "outperform" rating and issued a $455.00 price target on shares of Home Depot in a research note on Monday, June 30th. Truist Financial lifted their target price on Home Depot from $393.00 to $417.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Jefferies Financial Group cut their price target on Home Depot from $461.00 to $456.00 in a report on Tuesday, May 20th. Finally, Gordon Haskett boosted their price objective on Home Depot from $350.00 to $360.00 in a research report on Tuesday, May 20th. Seven 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $426.77.

Insider Activity at Home Depot

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of the 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of the 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 approximately $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.

Home Depot Price Performance

Shares of HD stock traded down $3.14 during mid-day trading on Thursday, reaching $373.22. The stock had a trading volume of 3,075,675 shares, compared to its average volume of 3,354,538. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37. The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 5.95. The business has a 50-day simple moving average of $365.82 and a 200 day simple moving average of $374.10. The company has a market cap of $371.32 billion, a P/E ratio of 25.32, a price-to-earnings-growth ratio of 3.58 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last announced 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). Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The company had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. During the same quarter last year, the company posted $3.63 EPS. Home Depot's quarterly revenue was up 9.4% compared to the same quarter last year. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were issued a dividend of $2.30 per share. The ex-dividend date was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.47%. Home Depot's dividend payout ratio (DPR) is presently 62.42%.

Home Depot 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.