Rialto Wealth Management LLC Buys New Shares in The Home Depot, Inc. (NYSE:HD)

Rialto Wealth Management LLC purchased a new position in shares of The Home Depot, Inc. (NYSE:HD) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 670 shares of the home improvement retailer’s stock, valued at approximately $261,000.

A number of other large investors also recently modified their holdings of the business. SYM FINANCIAL Corp raised its holdings in shares of Home Depot by 17.8% in the 3rd quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock valued at $777,000 after purchasing an additional 289 shares during the period. Swedbank AB increased its position in Home Depot by 17.1% during the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after buying an additional 132,967 shares during the last quarter. Principal Financial Group Inc. raised its stake in Home Depot by 10.7% in the third quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer’s stock valued at $596,140,000 after buying an additional 141,915 shares during the period. Capital Performance Advisors LLP lifted its position in shares of Home Depot by 22.1% in the third quarter. Capital Performance Advisors LLP now owns 740 shares of the home improvement retailer’s stock valued at $300,000 after buying an additional 134 shares during the last quarter. Finally, ABLE Financial Group LLC boosted its stake in shares of Home Depot by 10.6% during the 3rd quarter. ABLE Financial Group LLC now owns 5,667 shares of the home improvement retailer’s stock worth $2,296,000 after acquiring an additional 542 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HD has been the subject of several research reports. Royal Bank of Canada cut their price target on Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a report on Wednesday, February 26th. Piper Sandler cut their target price on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. JPMorgan Chase & Co. lifted their target price on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Mizuho increased their price target on shares of Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Truist Financial reduced their price objective on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Stock Performance

NYSE:HD opened at $376.66 on Friday. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The stock’s 50-day simple moving average is $400.21 and its 200 day simple moving average is $399.81. The firm has a market capitalization of $374.16 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 9.45% and a return on equity of 452.60%. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period last year, the company posted $2.82 EPS. On average, analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.44%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. Home Depot’s dividend payout ratio is presently 61.66%.

Home Depot Company 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.