Maxwell Wealth Strategies Inc. Increases Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Maxwell Wealth Strategies Inc. raised its stake in shares of The Home Depot, Inc. (NYSE:HD) by 13.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,533 shares of the home improvement retailer’s stock after acquiring an additional 1,396 shares during the period. Home Depot comprises approximately 2.0% of Maxwell Wealth Strategies Inc.’s investment portfolio, making the stock its 13th largest holding. Maxwell Wealth Strategies Inc.’s holdings in Home Depot were worth $4,614,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. Natixis Advisors LLC raised its stake in shares of Home Depot by 10.2% during the 3rd quarter. Natixis Advisors LLC now owns 747,413 shares of the home improvement retailer’s stock worth $302,852,000 after purchasing an additional 69,121 shares during the period. Nicollet Investment Management Inc. grew its position in Home Depot by 1.3% during the third quarter. Nicollet Investment Management Inc. now owns 8,445 shares of the home improvement retailer’s stock valued at $3,422,000 after buying an additional 112 shares during the period. Vawter Financial Ltd. purchased a new stake in Home Depot during the third quarter worth about $210,000. Northcape Wealth Management LLC raised its position in Home Depot by 0.8% in the third quarter. Northcape Wealth Management LLC now owns 7,486 shares of the home improvement retailer’s stock worth $3,033,000 after acquiring an additional 61 shares during the period. Finally, Insight 2811 Inc. purchased a new position in Home Depot in the third quarter valued at about $208,000. Institutional investors own 70.86% of the company’s stock.

Insider Transactions at Home Depot

In related news, EVP Teresa Wynn Roseborough sold 22,084 shares of Home Depot stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total value of $9,030,368.44. Following the sale, the executive vice president now owns 20,404 shares in the company, valued at $8,343,399.64. The trade was a 51.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

HD has been the subject of several research analyst reports. Loop Capital upgraded shares of Home Depot from a “hold” rating to a “buy” rating and raised their price target for the stock from $360.00 to $460.00 in a research note on Wednesday, October 9th. Barclays raised their target price on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Piper Sandler upped their price target on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. DA Davidson lifted their price objective on Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Evercore ISI upped 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Home Depot has an average rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Trading Up 0.6 %

Shares of HD opened at $408.18 on Friday. The firm’s 50 day simple moving average is $399.51 and its 200 day simple moving average is $366.34. The company has a market capitalization of $405.44 billion, a P/E ratio of 27.73, a P/E/G ratio of 2.83 and a beta of 1.01. The Home Depot, Inc. has a 1-year low of $302.34 and a 1-year high of $421.56. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.33.

Home Depot (NYSE:HD) last released its 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. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. During the same quarter in the previous year, the company posted $3.81 EPS. Home Depot’s quarterly revenue was up 6.6% compared to the same quarter last year. Sell-side analysts forecast that The Home Depot, Inc. will post 15.06 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be given 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 yield of 2.20%. Home Depot’s payout ratio is 61.14%.

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.