Rialto Wealth Management LLC Takes Position in The Home Depot, Inc. (NYSE:HD)

Rialto Wealth Management LLC acquired a new position in The Home Depot, Inc. (NYSE:HD) during the 4th quarter, HoldingsChannel reports. The fund acquired 670 shares of the home improvement retailer’s stock, valued at approximately $261,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hamilton Capital Partners LLC bought a new stake in Home Depot in the fourth quarter valued at approximately $6,006,000. Intellectus Partners LLC boosted its stake in shares of Home Depot by 36.5% in the 4th quarter. Intellectus Partners LLC now owns 3,728 shares of the home improvement retailer’s stock valued at $1,450,000 after purchasing an additional 996 shares during the last quarter. Larson Financial Group LLC increased its position in shares of Home Depot by 10.5% during the fourth quarter. Larson Financial Group LLC now owns 8,660 shares of the home improvement retailer’s stock worth $3,369,000 after buying an additional 824 shares during the period. Arjuna Capital raised its stake in Home Depot by 17.0% during the fourth quarter. Arjuna Capital now owns 25,537 shares of the home improvement retailer’s stock worth $9,934,000 after buying an additional 3,717 shares during the last quarter. Finally, NS Partners Ltd lifted its holdings in Home Depot by 18.9% in the fourth quarter. NS Partners Ltd now owns 3,196 shares of the home improvement retailer’s stock valued at $1,243,000 after buying an additional 508 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HD has been the subject of a number of recent analyst reports. HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and increased their price target for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $455.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Guggenheim reiterated a “buy” rating and issued a $450.00 price target on shares of Home Depot in a report on Wednesday, February 26th. KGI Securities raised Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Finally, Mizuho upped their target price on Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and a consensus target price of $436.50.

Home Depot Stock Down 1.3 %

Shares of NYSE:HD opened at $376.66 on Friday. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. The company has a market capitalization of $374.16 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The business has a fifty day moving average price of $400.21 and a two-hundred day moving average price of $399.81. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.09. The company had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.82 earnings per share. Analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a $2.30 dividend. This is an increase from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $9.20 annualized dividend and a yield of 2.44%. Home Depot’s dividend payout ratio is presently 61.66%.

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.