Massachusetts Wealth Management Raises Stake in The Home Depot, Inc. (NYSE:HD)

Massachusetts Wealth Management lifted its stake in shares of The Home Depot, Inc. (NYSE:HD) by 1.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,540 shares of the home improvement retailer’s stock after acquiring an additional 75 shares during the period. Home Depot accounts for approximately 1.4% of Massachusetts Wealth Management’s portfolio, making the stock its 29th biggest position. Massachusetts Wealth Management’s holdings in Home Depot were worth $2,245,000 at the end of the most recent reporting period.

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

Home Depot Stock Performance

Shares of HD stock opened at $398.91 on Friday. The stock’s 50-day moving average is $389.81 and its two-hundred day moving average is $359.98. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $421.56. The firm has a market cap of $396.23 billion, a price-to-earnings ratio of 26.84, a PEG ratio of 2.78 and a beta of 1.00.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The firm had revenue of $43.18 billion for the quarter, compared to the consensus estimate of $42.57 billion. During the same quarter last year, the business posted $4.65 EPS. The firm’s quarterly revenue was up .6% compared to the same quarter last year. Analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were given a $2.25 dividend. The ex-dividend date was Thursday, August 29th. This represents a $9.00 annualized dividend and a yield of 2.26%. Home Depot’s dividend payout ratio (DPR) is 60.57%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on HD. Royal Bank of Canada dropped their price objective on Home Depot from $377.00 to $363.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 14th. JPMorgan Chase & Co. boosted their price target on shares of Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Morgan Stanley raised their price objective on shares of Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. DA Davidson upped their target price on shares of Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Melius Research initiated coverage on shares of Home Depot in a research report on Monday, September 23rd. They issued a “buy” rating and a $420.00 price target for the company. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $412.00.

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.