Morey & Quinn Wealth Partners LLC Makes New Investment in The Home Depot, Inc. (NYSE:HD)

Morey & Quinn Wealth Partners LLC bought a new position in The Home Depot, Inc. (NYSE:HD) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,616 shares of the home improvement retailer’s stock, valued at approximately $1,018,000. Home Depot accounts for 0.9% of Morey & Quinn Wealth Partners LLC’s holdings, making the stock its 25th largest holding.

Other hedge funds have also modified their holdings of the company. SYM FINANCIAL Corp raised its holdings in Home Depot by 17.8% in the third quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock valued at $777,000 after acquiring an additional 289 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Home Depot by 10.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer’s stock valued at $596,140,000 after purchasing an additional 141,915 shares in the last quarter. United Bank grew its stake in Home Depot by 4.2% in the third quarter. United Bank now owns 4,458 shares of the home improvement retailer’s stock worth $1,806,000 after purchasing an additional 181 shares in the last quarter. Algert Global LLC bought a new stake in Home Depot in the third quarter valued at about $649,000. Finally, Dai ichi Life Insurance Company Ltd raised its stake in Home Depot by 3.4% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 69,668 shares of the home improvement retailer’s stock valued at $28,229,000 after buying an additional 2,295 shares in the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Trading Down 0.8 %

NYSE:HD opened at $360.90 on Wednesday. The stock has a fifty day simple moving average of $392.82 and a 200 day simple moving average of $399.16. The firm has a market capitalization of $358.50 billion, a price-to-earnings ratio of 24.52, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last announced its 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 net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. During the same period last year, the company posted $2.82 earnings per share. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. Sell-side analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a $2.30 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.55%. 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 research firms recently issued reports on HD. Wells Fargo & Company upped their price target on Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Royal Bank of Canada cut their target price on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. Truist Financial lowered their target price on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Robert W. Baird cut their price target on Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Finally, KGI Securities upgraded Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Nine analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and an average price target of $435.85.

Home Depot 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.