Waterway Wealth Management LLC Increases Stake in The Home Depot, Inc. (NYSE:HD)

Waterway Wealth Management LLC lifted its stake in shares of The Home Depot, Inc. (NYSE:HD) by 10.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 680 shares of the home improvement retailer’s stock after acquiring an additional 63 shares during the period. Waterway Wealth Management LLC’s holdings in Home Depot were worth $276,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Fairway Wealth LLC acquired a new stake in Home Depot during the 2nd quarter worth approximately $25,000. Kings Path Partners LLC acquired a new stake in Home Depot during the 2nd quarter worth approximately $33,000. Denver PWM LLC acquired a new stake in Home Depot during the 2nd quarter worth approximately $40,000. Livelsberger Financial Advisory acquired a new stake in Home Depot in the third quarter valued at approximately $46,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Home Depot in the second quarter valued at approximately $47,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. UBS Group increased their price objective on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Stifel Nicolaus decreased their price target on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. Morgan Stanley raised their price objective on Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday. Guggenheim raised their price objective on Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Finally, Melius Research assumed coverage on Home Depot in a research note on Monday, September 23rd. They set a “buy” rating and a $420.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $410.67.

Home Depot Trading Down 2.0 %

Shares of HD opened at $406.52 on Tuesday. The business’s 50-day moving average price is $386.31 and its 200 day moving average price is $358.83. The stock has a market capitalization of $403.11 billion, a P/E ratio of 27.26, a P/E/G ratio of 2.88 and a beta of 1.00. The Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $421.56. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74.

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

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were issued a dividend of $2.25 per share. The ex-dividend date was Thursday, August 29th. This represents a $9.00 annualized dividend and a dividend yield of 2.21%. Home Depot’s dividend payout ratio is 60.36%.

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.