ERn Financial LLC Increases Holdings in The Home Depot, Inc. (NYSE:HD)

ERn Financial LLC grew its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 3.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,906 shares of the home improvement retailer’s stock after buying an additional 102 shares during the quarter. ERn Financial LLC’s holdings in Home Depot were worth $1,040,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in HD. VisionPoint Advisory Group LLC purchased a new stake in shares of Home Depot during the 2nd quarter valued at about $26,000. Fairfield Bush & CO. purchased a new stake in Home Depot in the 1st quarter worth about $27,000. KB Financial Partners LLC purchased a new stake in Home Depot in the 1st quarter worth about $28,000. Studio Investment Management LLC purchased a new stake in Home Depot in the 4th quarter worth about $32,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Home Depot in the 1st quarter worth about $37,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Barclays raised shares of Home Depot from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $325.00 to $372.00 in a research report on Thursday, January 4th. TD Cowen increased their price objective on shares of Home Depot from $415.00 to $440.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. Telsey Advisory Group increased their price objective on shares of Home Depot from $325.00 to $335.00 and gave the stock a “market perform” rating in a research report on Thursday, February 15th. Mizuho initiated coverage on shares of Home Depot in a research report on Tuesday, March 19th. They issued a “buy” rating and a $415.00 price objective on the stock. Finally, Piper Sandler raised shares of Home Depot from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $311.00 to $400.00 in a research report on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $368.76.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total value of $3,317,185.04. Following the transaction, the executive vice president now directly owns 75,799 shares in the company, valued at approximately $27,950,123.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the transaction, the chief executive officer now directly owns 107,731 shares in the company, valued at approximately $39,712,878.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the completion of the transaction, the executive vice president now owns 75,799 shares in the company, valued at $27,950,123.26. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.

Home Depot Trading Down 0.6 %

Shares of Home Depot stock opened at $383.60 on Friday. The firm has a fifty day moving average price of $369.40 and a 200 day moving average price of $335.27. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $396.87. The stock has a market cap of $380.16 billion, a PE ratio of 25.40, a price-to-earnings-growth ratio of 2.53 and a beta of 0.99. The company has a debt-to-equity ratio of 40.94, a current ratio of 1.35 and a quick ratio of 0.40.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.05. The firm had revenue of $34.79 billion for the quarter, compared to analyst estimates of $34.64 billion. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. Home Depot’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the business posted $3.30 earnings per share. Equities research analysts predict that The Home Depot, Inc. will post 15.39 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 21st. Shareholders of record on Thursday, March 7th were issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.35%. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. The ex-dividend date was Wednesday, March 6th. Home Depot’s payout ratio is presently 59.60%.

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.