Meritage Portfolio Management Raises Position in The Home Depot, Inc. (NYSE:HD)

Meritage Portfolio Management grew its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 7.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,778 shares of the home improvement retailer’s stock after purchasing an additional 322 shares during the quarter. Meritage Portfolio Management’s holdings in Home Depot were worth $1,859,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Choreo LLC lifted its stake in shares of Home Depot by 2.3% during the 4th quarter. Choreo LLC now owns 85,835 shares of the home improvement retailer’s stock worth $33,401,000 after purchasing an additional 1,958 shares during the period. Tectonic Advisors LLC lifted its stake in shares of Home Depot by 61.1% during the 4th quarter. Tectonic Advisors LLC now owns 1,329 shares of the home improvement retailer’s stock worth $517,000 after purchasing an additional 504 shares during the period. Confluence Wealth Services Inc. raised its position in shares of Home Depot by 3.3% in the 4th quarter. Confluence Wealth Services Inc. now owns 15,629 shares of the home improvement retailer’s stock worth $6,476,000 after buying an additional 500 shares during the period. Virginia Wealth Management Group Inc. raised its position in shares of Home Depot by 0.7% in the 4th quarter. Virginia Wealth Management Group Inc. now owns 6,048 shares of the home improvement retailer’s stock worth $2,352,000 after buying an additional 45 shares during the period. Finally, Berkshire Money Management Inc. purchased a new position in shares of Home Depot in the 4th quarter worth $457,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Up 0.0 %

NYSE:HD opened at $413.92 on Friday. The company has a market capitalization of $411.18 billion, a price-to-earnings ratio of 28.12, a price-to-earnings-growth ratio of 4.34 and a beta of 1.05. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The stock has a 50-day simple moving average of $406.84 and a 200 day simple moving average of $393.55. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

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

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were paid a $2.25 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a yield of 2.17%. Home Depot’s payout ratio is currently 61.14%.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $409.52, for a total value of $6,553,958.08. Following the completion of the transaction, the executive vice president now directly owns 77,475 shares in the company, valued at $31,727,562. The trade was a 17.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ann Marie Campbell sold 100 shares of Home Depot stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total value of $40,258.00. Following the completion of the transaction, the executive vice president now owns 12,465 shares of the company’s stock, valued at approximately $5,018,159.70. The trade was a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,188 shares of company stock worth $15,624,585 over the last ninety days. Company insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Truist Financial increased their target price on Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Stifel Nicolaus increased their target price on Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Morgan Stanley increased their target price on Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Telsey Advisory Group raised Home Depot from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $360.00 to $455.00 in a research report on Friday, November 8th. Finally, Sanford C. Bernstein assumed coverage on Home Depot in a research report on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $426.00.

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.