WT Wealth Management Lowers Stock Position in The Home Depot, Inc. (NYSE:HD)

WT Wealth Management trimmed its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 16.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 7,437 shares of the home improvement retailer’s stock after selling 1,492 shares during the period. WT Wealth Management’s holdings in Home Depot were worth $3,086,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the business. Keystone Wealth Services LLC lifted its position in shares of Home Depot by 3.3% during the 1st quarter. Keystone Wealth Services LLC now owns 1,804 shares of the home improvement retailer’s stock valued at $692,000 after acquiring an additional 58 shares during the period. Central Valley Advisors LLC raised its holdings in Home Depot by 0.4% during the first quarter. Central Valley Advisors LLC now owns 10,352 shares of the home improvement retailer’s stock worth $3,972,000 after purchasing an additional 45 shares during the last quarter. Riverview Trust Co boosted its position in Home Depot by 7.3% during the first quarter. Riverview Trust Co now owns 1,105 shares of the home improvement retailer’s stock worth $424,000 after purchasing an additional 75 shares in the last quarter. Fermata Advisors LLC boosted its position in Home Depot by 70.5% during the first quarter. Fermata Advisors LLC now owns 1,463 shares of the home improvement retailer’s stock worth $561,000 after purchasing an additional 605 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC grew its holdings in Home Depot by 1.5% in the first quarter. Dynamic Advisor Solutions LLC now owns 41,290 shares of the home improvement retailer’s stock valued at $15,839,000 after purchasing an additional 598 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Trading Down 1.1 %

NYSE:HD opened at $401.85 on Wednesday. The business’s 50-day moving average is $387.35 and its two-hundred day moving average is $359.15. The firm has a market capitalization of $398.48 billion, a PE ratio of 26.95, a price-to-earnings-growth ratio of 2.88 and a beta of 1.00. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $421.56. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33.

Home Depot (NYSE:HD) last released 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 during 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 quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.65 EPS. Research analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on HD shares. Morgan Stanley boosted their price objective on shares of Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday. UBS Group upped their price target on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Jefferies Financial Group initiated coverage on shares of Home Depot in a research note on Tuesday, July 16th. They set a “buy” rating and a $426.00 price objective for the company. Oppenheimer upped their target price on shares of Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a report on Tuesday, September 24th. Finally, Royal Bank of Canada reduced their price objective on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a research note 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 presently has an average rating of “Moderate Buy” and a consensus price target of $410.67.

About Home Depot

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.