Triad Wealth Partners LLC Makes New $934,000 Investment in The Home Depot, Inc. (NYSE:HD)

Triad Wealth Partners LLC bought a new position in shares of The Home Depot, Inc. (NYSE:HD) in the fourth quarter, Holdings Channel reports. The firm bought 2,402 shares of the home improvement retailer’s stock, valued at approximately $934,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Synergy Asset Management LLC purchased a new stake in shares of Home Depot during the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. purchased a new stake in Home Depot during the 4th quarter worth $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in Home Depot in the 4th quarter worth $32,000. Legacy Investment Solutions LLC purchased a new position in Home Depot in the 3rd quarter valued at about $41,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of Home Depot during the fourth quarter valued at about $41,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on HD shares. Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Barclays raised their price target on shares of Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Telsey Advisory Group restated an “outperform” rating and issued a $455.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Wells Fargo & Company raised their price objective on shares of Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Finally, Piper Sandler reduced their price target on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Price Performance

NYSE HD opened at $381.55 on Wednesday. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37. The firm has a market capitalization of $379.02 billion, a PE ratio of 25.92, a P/E/G ratio of 4.03 and a beta of 1.05. The company’s 50 day simple moving average is $401.00 and its 200 day simple moving average is $399.71. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD) last announced its quarterly earnings data 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 business had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company’s revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.82 earnings per share. As a group, equities research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, March 13th. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.41%. Home Depot’s dividend payout ratio is currently 61.66%.

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.