RWQ Financial Management Services Inc. Cuts Stake in The Home Depot, Inc. (NYSE:HD)

RWQ Financial Management Services Inc. lowered its position in shares of The Home Depot, Inc. (NYSE:HD) by 75.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 12,653 shares of the home improvement retailer’s stock after selling 39,639 shares during the period. Home Depot makes up about 1.9% of RWQ Financial Management Services Inc.’s portfolio, making the stock its 15th biggest position. RWQ Financial Management Services Inc.’s holdings in Home Depot were worth $4,922,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in HD. Synergy Asset Management LLC purchased a new position in shares of Home Depot during the fourth quarter valued at $26,000. Wingate Wealth Advisors Inc. purchased a new position in Home Depot in the fourth quarter valued at about $28,000. Bradley & Co. Private Wealth Management LLC purchased a new position in Home Depot in the fourth quarter valued at about $32,000. NewSquare Capital LLC grew its stake in Home Depot by 200.0% in the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after purchasing an additional 68 shares during the last quarter. Finally, Legacy Investment Solutions LLC purchased a new position in Home Depot in the third quarter valued at about $41,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on HD. Wells Fargo & Company lifted their target price on Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Royal Bank of Canada cut their target price on Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and lifted their target price for the company from $356.00 to $410.00 in a research note on Wednesday, February 26th. Wedbush restated an “outperform” rating and set a $440.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Finally, Truist Financial dropped their price target on 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 analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Trading Up 0.5 %

Shares of NYSE:HD opened at $355.31 on Friday. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37. The company has a market capitalization of $352.95 billion, a PE ratio of 24.14, a PEG ratio of 4.03 and a beta of 1.09. The business has a 50 day moving average of $394.73 and a two-hundred day moving average of $398.78. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating 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 company had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. During the same period in the previous year, the company posted $2.82 earnings per share. Home Depot’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a $2.30 dividend. The ex-dividend date is Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a yield of 2.59%. Home Depot’s payout ratio is presently 61.66%.

About Home Depot

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.