Naviter Wealth LLC Purchases 3,146 Shares of The Home Depot, Inc. (NYSE:HD)

Naviter Wealth LLC increased its position in The Home Depot, Inc. (NYSE:HD) by 39.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 11,150 shares of the home improvement retailer’s stock after acquiring an additional 3,146 shares during the quarter. Naviter Wealth LLC’s holdings in Home Depot were worth $4,337,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Synergy Asset Management LLC bought a new stake in Home Depot during the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. bought a new stake in Home Depot during the fourth quarter valued at approximately $28,000. Bradley & Co. Private Wealth Management LLC bought a new stake in Home Depot during the fourth quarter valued at approximately $32,000. Legacy Investment Solutions LLC bought a new stake in Home Depot during the third quarter valued at approximately $41,000. Finally, Marshall Investment Management LLC bought a new stake in Home Depot during the fourth quarter valued at approximately $41,000. 70.86% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

HD has been the subject of several research analyst reports. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and lifted their target price for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. Guggenheim restated a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Wells Fargo & Company boosted their price objective on shares of Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. KGI Securities upgraded shares of Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. Finally, Evercore ISI boosted their price objective on shares of Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Nine investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Stock Performance

Shares of HD stock opened at $376.66 on Friday. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37. The stock has a market cap of $374.16 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The company’s fifty day moving average price is $400.21 and its 200-day moving average price is $399.59.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. During the same quarter in the previous year, the business posted $2.82 EPS. The company’s quarterly revenue was up 14.1% on a year-over-year basis. On average, equities analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date is Thursday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio is 61.66%.

Home Depot 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.