Madison Wealth Partners Inc Acquires 195 Shares of The Home Depot, Inc. (NYSE:HD)

Posted by on Apr 5th, 2023

Madison Wealth Partners Inc grew its holdings in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 22.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,081 shares of the home improvement retailer’s stock after acquiring an additional 195 shares during the quarter. Madison Wealth Partners Inc’s holdings in Home Depot were worth $341,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Heartwood Wealth Advisors LLC boosted its position in shares of Home Depot by 4.1% during the 3rd quarter. Heartwood Wealth Advisors LLC now owns 1,582 shares of the home improvement retailer’s stock valued at $437,000 after acquiring an additional 63 shares during the last quarter. Cottage Street Advisors LLC lifted its position in Home Depot by 26,657.7% in the 4th quarter. Cottage Street Advisors LLC now owns 3,580,444 shares of the home improvement retailer’s stock worth $659,000 after buying an additional 3,567,063 shares during the last quarter. West Branch Capital LLC lifted its position in Home Depot by 0.4% in the 3rd quarter. West Branch Capital LLC now owns 10,863 shares of the home improvement retailer’s stock worth $2,998,000 after buying an additional 41 shares during the last quarter. Bell & Brown Wealth Advisors LLC lifted its position in Home Depot by 3.3% in the 3rd quarter. Bell & Brown Wealth Advisors LLC now owns 7,824 shares of the home improvement retailer’s stock worth $2,159,000 after buying an additional 253 shares during the last quarter. Finally, Community Bank of Raymore lifted its position in Home Depot by 120.0% in the 3rd quarter. Community Bank of Raymore now owns 1,650 shares of the home improvement retailer’s stock worth $455,000 after buying an additional 900 shares during the last quarter. Institutional investors own 68.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on HD. StockNews.com began coverage on Home Depot in a research report on Thursday, March 16th. They issued a “hold” rating for the company. Robert W. Baird dropped their target price on Home Depot from $360.00 to $340.00 and set an “outperform” rating for the company in a research report on Tuesday, February 21st. Bank of America dropped their target price on Home Depot from $360.00 to $346.00 in a research report on Wednesday, February 22nd. Cowen lowered their price objective on Home Depot from $379.00 to $360.00 and set an “outperform” rating for the company in a research report on Wednesday, February 22nd. Finally, Credit Suisse Group lowered their price objective on Home Depot from $335.00 to $320.00 and set a “neutral” rating for the company in a research report on Wednesday, February 22nd. Thirteen analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $330.61.

Home Depot Price Performance

Shares of HD stock opened at $294.96 on Wednesday. The stock has a market cap of $299.37 billion, a price-to-earnings ratio of 17.68, a PEG ratio of 1.71 and a beta of 0.93. The business’s fifty day moving average is $302.24 and its 200 day moving average is $303.78. The Home Depot, Inc. has a twelve month low of $264.51 and a twelve month high of $347.25. The company has a quick ratio of 0.33, a current ratio of 1.41 and a debt-to-equity ratio of 26.86.

Home Depot (NYSE:HD – Get Rating) last issued its quarterly earnings results on Tuesday, February 21st. The home improvement retailer reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.04. The company had revenue of $35.83 billion for the quarter, compared to analysts’ expectations of $36 billion. Home Depot had a return on equity of 4,929.40% and a net margin of 10.87%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the prior year, the firm earned $3.21 earnings per share. Research analysts expect that The Home Depot, Inc. will post 15.85 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 23rd. Investors of record on Thursday, March 9th were paid a $2.09 dividend. This represents a $8.36 annualized dividend and a yield of 2.83%. This is a boost from Home Depot’s previous quarterly dividend of $1.90. The ex-dividend date was Wednesday, March 8th. Home Depot’s dividend payout ratio is presently 50.12%.

Home Depot Profile

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The Home Depot, Inc engages in the sale of building materials and home improvement products. Its products include building materials, home improvement products, lawn and garden products and decor products. The firm operates through the following geographical segments: U.S., Canada and Mexico. It offers home improvement installation services, and tool and equipment rental.

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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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