MBL Wealth LLC Sells 160 Shares of The Home Depot, Inc. (NYSE:HD)

Posted by Defense World Staff on Jun 23rd, 2023

MBL Wealth LLC reduced its stake in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 2.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 5,461 shares of the home improvement retailer’s stock after selling 160 shares during the period. MBL Wealth LLC’s holdings in Home Depot were worth $1,612,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in HD. Fairfield Bush & CO. bought a new stake in Home Depot in the first quarter worth $27,000. Glassy Mountain Advisors Inc. bought a new stake in Home Depot in the fourth quarter worth $30,000. Studio Investment Management LLC bought a new stake in Home Depot in the fourth quarter worth $32,000. Align Wealth Management LLC bought a new stake in Home Depot in the fourth quarter worth $30,000. Finally, EWG Elevate Inc. bought a new stake in Home Depot in the fourth quarter worth $36,000. 69.91% of the stock is owned by institutional investors.

Insider Transactions at Home Depot

In other news, EVP Hector A. Padilla sold 1,502 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $293.09, for a total transaction of $440,221.18. Following the transaction, the executive vice president now directly owns 13,958 shares in the company, valued at $4,090,950.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.19% of the company’s stock.

Home Depot Stock Up 0.2 %

Shares of NYSE:HD opened at $301.19 on Friday. The firm’s 50 day moving average price is $294.48 and its 200 day moving average price is $303.80. The stock has a market cap of $302.81 billion, a price-to-earnings ratio of 18.35, a price-to-earnings-growth ratio of 1.93 and a beta of 0.93. The Home Depot, Inc. has a fifty-two week low of $265.61 and a fifty-two week high of $347.25. The company has a quick ratio of 0.28, a current ratio of 1.27 and a debt-to-equity ratio of 113.02.

Home Depot (NYSE:HD – Get Rating) last issued its earnings results on Tuesday, May 16th. The home improvement retailer reported $3.82 earnings per share for the quarter, beating the consensus estimate of $3.80 by $0.02. The firm had revenue of $37.26 billion for the quarter, compared to analysts’ expectations of $38.35 billion. Home Depot had a net margin of 10.75% and a return on equity of 1,936.63%. The firm’s revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the company earned $4.09 earnings per share. As a group, equities research analysts predict that The Home Depot, Inc. will post 14.97 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were paid a $2.09 dividend. The ex-dividend date was Wednesday, May 31st. This represents a $8.36 annualized dividend and a yield of 2.78%. Home Depot’s dividend payout ratio is currently 50.94%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on HD shares. Telsey Advisory Group lowered their price objective on shares of Home Depot from $340.00 to $315.00 and set an “outperform” rating for the company in a research note on Wednesday, May 17th. Morgan Stanley lowered their price objective on shares of Home Depot from $340.00 to $320.00 in a research note on Wednesday, May 17th. TheStreet downgraded shares of Home Depot from a “b” rating to a “c+” rating in a research note on Tuesday, May 16th. Loop Capital upped their price objective on shares of Home Depot from $280.00 to $300.00 in a research note on Wednesday, June 14th. Finally, Citigroup lowered their price objective on shares of Home Depot from $332.00 to $327.00 in a research note on Wednesday, May 10th. Thirteen investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $323.43.

Home Depot Profile

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The Home Depot, Inc operates as a home improvement retailer. 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.