Flagship Wealth Advisors LLC Invests $274,000 in The Home Depot, Inc. (NYSE:HD)

Flagship Wealth Advisors LLC purchased a new position in shares of The Home Depot, Inc. (NYSE:HD) during the fourth quarter, HoldingsChannel reports. The firm purchased 704 shares of the home improvement retailer’s stock, valued at approximately $274,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Synergy Asset Management LLC acquired a new position in Home Depot during the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Home Depot in the fourth quarter valued at approximately $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in Home Depot during the fourth quarter worth $32,000. NewSquare Capital LLC raised its position in Home Depot by 200.0% in the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock worth $40,000 after acquiring an additional 68 shares in the last quarter. Finally, Legacy Investment Solutions LLC acquired a new stake in Home Depot in the third quarter valued at $41,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Trading Up 1.1 %

HD stock opened at $351.16 on Monday. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The company has a market cap of $348.83 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 4.03 and a beta of 1.09. The business has a fifty day simple moving average of $397.43 and a 200-day simple moving average of $399.63. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping the consensus estimate of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. During the same period in the prior year, the firm posted $2.82 earnings per share. The firm’s revenue was up 14.1% on a year-over-year basis. On average, equities research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a $2.30 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $9.20 annualized dividend and a dividend yield of 2.62%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is presently 61.66%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Truist Financial reduced their price objective on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and lifted their price target for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. Guggenheim restated a “buy” rating and issued a $450.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Piper Sandler reduced their price objective on Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. upped their target price on Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.