Groesbeck Investment Management Corp NJ Sells 154 Shares of The Home Depot, Inc. (NYSE:HD)

Groesbeck Investment Management Corp NJ lessened its holdings in The Home Depot, Inc. (NYSE:HD) by 7.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,954 shares of the home improvement retailer’s stock after selling 154 shares during the quarter. Groesbeck Investment Management Corp NJ’s holdings in Home Depot were worth $677,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Wright Investors Service Inc. grew its holdings in Home Depot by 1.2% in the 4th quarter. Wright Investors Service Inc. now owns 27,513 shares of the home improvement retailer’s stock worth $9,534,000 after acquiring an additional 324 shares during the last quarter. WestHill Financial Advisors Inc. purchased a new stake in Home Depot in the 4th quarter worth approximately $206,000. Curran Financial Partners LLC bought a new stake in shares of Home Depot in the 4th quarter worth approximately $216,000. Peterson Wealth Services increased its stake in shares of Home Depot by 6.4% during the fourth quarter. Peterson Wealth Services now owns 12,946 shares of the home improvement retailer’s stock valued at $4,487,000 after buying an additional 773 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Home Depot by 4.1% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 23,545 shares of the home improvement retailer’s stock valued at $8,158,000 after acquiring an additional 931 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

HD opened at $332.89 on Friday. The company’s 50 day moving average is $367.92 and its 200 day moving average is $338.97. The company has a current ratio of 1.35, a quick ratio of 0.40 and a debt-to-equity ratio of 40.94. The company has a market cap of $329.90 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 2.22 and a beta of 0.98. The Home Depot, Inc. has a 12-month low of $274.26 and a 12-month high of $396.87.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.05. The business had revenue of $34.79 billion for the quarter, compared to analysts’ expectations of $34.64 billion. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The company’s revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the company posted $3.30 EPS. On average, equities research analysts predict that The Home Depot, Inc. will post 15.37 EPS for the current year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were given a $2.25 dividend. This is a boost from Home Depot’s previous quarterly dividend of $2.09. The ex-dividend date was Wednesday, March 6th. This represents a $9.00 dividend on an annualized basis and a yield of 2.70%. Home Depot’s dividend payout ratio is presently 59.60%.

Insider Transactions at Home Depot

In related news, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the completion of the transaction, the executive vice president now directly owns 75,799 shares in the company, valued at approximately $27,950,123.26. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the transaction, the chief executive officer now directly owns 107,731 shares in the company, valued at $39,712,878.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total value of $3,317,185.04. Following the sale, the executive vice president now owns 75,799 shares of the company’s stock, valued at approximately $27,950,123.26. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on HD shares. Royal Bank of Canada boosted their price objective on shares of Home Depot from $299.00 to $377.00 and gave the company a “sector perform” rating in a research report on Monday, February 26th. Barclays raised Home Depot from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $325.00 to $372.00 in a research report on Thursday, January 4th. Bank of America raised their target price on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Monday, April 1st. TD Cowen upped their price target on Home Depot from $415.00 to $440.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. Finally, Stifel Nicolaus raised their price objective on Home Depot from $355.00 to $366.00 and gave the company a “hold” rating in a research report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $375.96.

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.