Lighthouse Wealth Management Inc. Takes $258,000 Position in The Home Depot, Inc. (NYSE:HD)

Lighthouse Wealth Management Inc. bought a new position in shares of The Home Depot, Inc. (NYSE:HD) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 662 shares of the home improvement retailer’s stock, valued at approximately $258,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Quarry LP boosted its position in shares of Home Depot by 36.0% during the 2nd quarter. Quarry LP now owns 136 shares of the home improvement retailer’s stock valued at $47,000 after acquiring an additional 36 shares in the last quarter. Granite Bay Wealth Management LLC bought a new position in Home Depot during the second quarter worth about $230,000. Farmers National Bank boosted its holdings in Home Depot by 0.6% during the second quarter. Farmers National Bank now owns 23,537 shares of the home improvement retailer’s stock valued at $8,102,000 after purchasing an additional 137 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of Home Depot in the 2nd quarter valued at approximately $47,000. Finally, Brown Financial Advisors acquired a new position in shares of Home Depot in the 2nd quarter worth approximately $746,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Stock Down 1.3 %

Shares of NYSE HD opened at $413.46 on Thursday. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. The stock has a market cap of $410.72 billion, a P/E ratio of 28.09, a P/E/G ratio of 4.32 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The firm has a 50 day moving average price of $407.66 and a 200 day moving average price of $391.78.

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

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were issued a dividend of $2.25 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.18%. Home Depot’s payout ratio is 61.14%.

Insider Activity at Home Depot

In other news, EVP Ann Marie Campbell sold 100 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total transaction of $40,258.00. Following the completion of the transaction, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at $5,018,159.70. This trade represents a 0.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of Home Depot stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the completion of the sale, the executive vice president now owns 20,404 shares in the company, valued at $8,343,399.64. This trade represents a 51.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,188 shares of company stock valued at $15,624,585. 0.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HD. TD Cowen boosted their price target on Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Loop Capital upgraded shares of Home Depot from a “hold” rating to a “buy” rating and boosted their target price for the company from $360.00 to $460.00 in a research note on Wednesday, October 9th. Guggenheim increased their target price on shares of Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Telsey Advisory Group upgraded shares of Home Depot from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $360.00 to $455.00 in a research report on Friday, November 8th. Finally, Royal Bank of Canada raised their price objective on shares of Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $426.00.

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.