Mattern Wealth Management LLC Sells 600 Shares of The Home Depot, Inc. (NYSE:HD)

Mattern Wealth Management LLC cut its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 34.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,142 shares of the home improvement retailer’s stock after selling 600 shares during the period. Mattern Wealth Management LLC’s holdings in Home Depot were worth $463,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Fairway Wealth LLC purchased a new stake in shares of Home Depot during the second quarter valued at $25,000. Kings Path Partners LLC purchased a new stake in shares of Home Depot during the second quarter valued at $33,000. Livelsberger Financial Advisory purchased a new stake in shares of Home Depot during the third quarter valued at $46,000. Denver PWM LLC purchased a new stake in shares of Home Depot during the second quarter valued at $40,000. Finally, Abich Financial Wealth Management LLC grew its holdings in shares of Home Depot by 68.0% during the first quarter. Abich Financial Wealth Management LLC now owns 126 shares of the home improvement retailer’s stock valued at $48,000 after buying an additional 51 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Stock Down 1.1 %

HD stock opened at $401.85 on Wednesday. The firm has a market cap of $398.48 billion, a PE ratio of 26.95, a PEG ratio of 2.88 and a beta of 1.00. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The firm’s 50 day moving average price is $387.35 and its 200-day moving average price is $359.15. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $421.56.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating the consensus estimate of $4.59 by $0.08. The firm had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.65 EPS. On average, equities research analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s payout ratio is presently 60.36%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on HD shares. Melius Research started coverage on shares of Home Depot in a report on Monday, September 23rd. They set a “buy” rating and a $420.00 price objective on the stock. Piper Sandler upped their price target on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $360.00 price target on shares of Home Depot in a report on Thursday, September 12th. Daiwa America raised shares of Home Depot to a “hold” rating in a report on Thursday, August 15th. Finally, Evercore ISI lowered their price target on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $410.67.

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.