Drive Wealth Management LLC Acquires 40 Shares of The Home Depot, Inc. (NYSE:HD)

Drive Wealth Management LLC increased its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 1.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,857 shares of the home improvement retailer’s stock after purchasing an additional 40 shares during the quarter. Drive Wealth Management LLC’s holdings in Home Depot were worth $1,563,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HD. Fairway Wealth LLC bought a new position in shares of Home Depot during the 2nd quarter valued at about $25,000. Kings Path Partners LLC bought a new position in Home Depot during the second quarter valued at approximately $33,000. Denver PWM LLC purchased a new position in Home Depot during the 2nd quarter valued at approximately $40,000. Livelsberger Financial Advisory bought a new stake in Home Depot in the 3rd quarter worth approximately $46,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Home Depot during the 2nd quarter worth approximately $47,000. Institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

Shares of NYSE:HD opened at $408.18 on Monday. The company has a quick ratio of 0.33, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The company has a market capitalization of $405.44 billion, a price-to-earnings ratio of 27.73, a price-to-earnings-growth ratio of 2.84 and a beta of 1.01. The firm has a 50 day moving average of $399.51 and a 200 day moving average of $366.81. The Home Depot, Inc. has a 52 week low of $302.34 and a 52 week high of $421.56.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating the consensus estimate of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $40.22 billion during the quarter, compared to analyst estimates of $39.31 billion. During the same period in the prior year, the firm posted $3.81 earnings per share. The company’s quarterly revenue was up 6.6% on a year-over-year basis. On average, sell-side analysts predict that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be paid a dividend of $2.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.20%. Home Depot’s payout ratio is 61.14%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on HD shares. TD Cowen raised their target price on shares of Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday, October 28th. Sanford C. Bernstein assumed coverage on shares of Home Depot in a report on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 target price on the stock. Morgan Stanley increased their price target on shares of Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, October 21st. UBS Group lifted their price target on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Finally, Gordon Haskett upgraded Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective on the stock in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and an average target price of $426.00.

Insiders Place Their Bets

In other news, EVP Teresa Wynn Roseborough sold 22,084 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the completion of the transaction, the executive vice president now owns 20,404 shares of the company’s stock, valued at $8,343,399.64. The trade was a 51.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.10% of the stock is owned by insiders.

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.