Wellington Wealth Strategies LLC. Takes $425,000 Position in The Home Depot, Inc. (NYSE:HD)

Wellington Wealth Strategies LLC. purchased a new stake in shares of The Home Depot, Inc. (NYSE:HD) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,030 shares of the home improvement retailer’s stock, valued at approximately $425,000.

A number of other institutional investors also recently bought and sold shares of the stock. Synergy Asset Management LLC purchased a new stake in Home Depot in the fourth quarter worth about $26,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Home Depot in the 4th quarter worth approximately $28,000. Navigoe LLC purchased a new stake in shares of Home Depot in the 4th quarter worth approximately $29,000. Bradley & Co. Private Wealth Management LLC bought a new position in Home Depot during the 4th quarter valued at approximately $32,000. Finally, Quarry LP raised its stake in Home Depot by 220.0% during the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after buying an additional 66 shares during the last quarter. 70.86% of the stock is owned by institutional investors.

Home Depot Trading Down 0.5%

Shares of Home Depot stock opened at $379.03 on Tuesday. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. The company’s fifty day simple moving average is $358.40 and its 200-day simple moving average is $387.85. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The stock has a market capitalization of $376.77 billion, a PE ratio of 25.75, a P/E/G ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.09. The company had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. Home Depot’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.82 earnings per share. As a group, equities analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.43%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. Home Depot’s dividend payout ratio is currently 61.66%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Guggenheim restated a “buy” rating and set a $450.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Gordon Haskett cut shares of Home Depot from a “buy” rating to a “hold” rating in a report on Friday, April 4th. Wedbush reiterated an “outperform” rating and issued a $440.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Royal Bank of Canada reduced their price target on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 26th. Finally, Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and an average target price of $430.32.

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.