Tower Wealth Partners Inc. Reduces Stock Position in The Home Depot, Inc. (NYSE:HD)

Tower Wealth Partners Inc. reduced its stake in The Home Depot, Inc. (NYSE:HD) by 0.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 3,457 shares of the home improvement retailer’s stock after selling 29 shares during the period. Home Depot makes up approximately 0.7% of Tower Wealth Partners Inc.’s portfolio, making the stock its 21st biggest position. Tower Wealth Partners Inc.’s holdings in Home Depot were worth $1,345,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HD. Daiwa Securities Group Inc. lifted its holdings in shares of Home Depot by 5.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 212,445 shares of the home improvement retailer’s stock worth $82,639,000 after buying an additional 10,846 shares in the last quarter. Main Street Research LLC increased its holdings in Home Depot by 25.8% during the 4th quarter. Main Street Research LLC now owns 1,345 shares of the home improvement retailer’s stock worth $523,000 after acquiring an additional 276 shares during the period. Schwarz Dygos Wheeler Investment Advisors LLC lifted its stake in Home Depot by 3.9% in the 4th quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 4,419 shares of the home improvement retailer’s stock worth $1,719,000 after purchasing an additional 167 shares in the last quarter. Sound View Wealth Advisors Group LLC boosted its holdings in Home Depot by 4.3% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 35,467 shares of the home improvement retailer’s stock valued at $13,796,000 after purchasing an additional 1,469 shares during the period. Finally, Enterprise Financial Services Corp boosted its holdings in Home Depot by 8.1% in the 4th quarter. Enterprise Financial Services Corp now owns 3,258 shares of the home improvement retailer’s stock valued at $1,267,000 after purchasing an additional 244 shares during the period. 70.86% of the stock is currently owned by institutional investors.

Home Depot Stock Performance

Shares of NYSE:HD opened at $376.66 on Monday. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The company has a market cap of $374.16 billion, a price-to-earnings ratio of 25.59, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37. The company has a 50-day moving average price of $400.21 and a 200-day moving average price of $400.02.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. During the same period last year, the company earned $2.82 EPS. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. As a group, equities analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a dividend of $2.30 per share. The ex-dividend date is Thursday, March 13th. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.44%. Home Depot’s payout ratio is currently 61.66%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HD. Mizuho upped their price target on shares of Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Evercore ISI lifted their price target on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Telsey Advisory Group restated an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Finally, Truist Financial lowered their target price on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and an average target price of $436.50.

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.