Ironwood Investment Counsel LLC Increases Position in The Home Depot, Inc. (NYSE:HD)

Ironwood Investment Counsel LLC increased its stake in shares of The Home Depot, Inc. (NYSE:HD) by 0.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,561 shares of the home improvement retailer’s stock after purchasing an additional 118 shares during the quarter. Home Depot makes up 1.1% of Ironwood Investment Counsel LLC’s holdings, making the stock its 22nd largest position. Ironwood Investment Counsel LLC’s holdings in Home Depot were worth $6,711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Fairway Wealth LLC acquired a new position in shares of Home Depot during the second quarter worth $25,000. Kings Path Partners LLC purchased a new stake in Home Depot in the second quarter valued at about $33,000. Denver PWM LLC acquired a new stake in Home Depot in the second quarter worth about $40,000. Livelsberger Financial Advisory purchased a new stake in shares of Home Depot during the third quarter worth about $46,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Home Depot during the second quarter valued at about $47,000. Institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

Shares of NYSE HD opened at $429.51 on Friday. 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 50-day moving average price is $407.48 and its 200 day moving average price is $371.81. The Home Depot, Inc. has a 52 week low of $308.59 and a 52 week high of $439.37. The stock has a market cap of $426.66 billion, a price-to-earnings ratio of 29.18, a PEG ratio of 2.97 and a beta of 1.01.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. The company had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.81 earnings per share. As a group, research analysts forecast that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be paid a dividend of $2.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $9.00 annualized dividend and a dividend yield of 2.10%. Home Depot’s dividend payout ratio is currently 61.14%.

Insider Transactions at Home Depot

In other news, EVP Ann Marie Campbell sold 100 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total transaction of $40,258.00. Following the sale, the executive vice president now owns 12,465 shares in the company, valued at $5,018,159.70. This trade represents a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Timothy A. Hourigan sold 16,004 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $409.52, for a total value of $6,553,958.08. Following the completion of the transaction, the executive vice president now owns 77,475 shares of the company’s stock, valued at $31,727,562. The trade was a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,188 shares of company stock worth $15,624,585 over the last ninety days. 0.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

HD has been the topic of several research analyst reports. Daiwa America raised shares of Home Depot to a “hold” rating in a research report on Thursday, August 15th. Evercore ISI boosted their price objective on shares of Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. DA Davidson raised their target price on Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Truist Financial increased their price objective on Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Gordon Haskett raised Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price for the company in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $426.00.

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.