Tower Wealth Partners Inc. Sells 29 Shares of The Home Depot, Inc. (NYSE:HD)

Tower Wealth Partners Inc. decreased its position in shares of The Home Depot, Inc. (NYSE:HD) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,457 shares of the home improvement retailer’s stock after selling 29 shares during the quarter. Home Depot makes up approximately 0.7% of Tower Wealth Partners Inc.’s portfolio, making the stock its 21st biggest position. Tower Wealth Partners Inc.’s holdings in Home Depot were worth $1,345,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Daiwa Securities Group Inc. boosted its position in Home Depot by 5.4% during the 4th quarter. Daiwa Securities Group Inc. now owns 212,445 shares of the home improvement retailer’s stock worth $82,639,000 after buying an additional 10,846 shares during the period. Main Street Research LLC raised its stake in shares of Home Depot by 25.8% during the fourth quarter. Main Street Research LLC now owns 1,345 shares of the home improvement retailer’s stock valued at $523,000 after acquiring an additional 276 shares during the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC lifted its holdings in shares of Home Depot by 3.9% during the fourth quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 4,419 shares of the home improvement retailer’s stock worth $1,719,000 after purchasing an additional 167 shares during the period. Sound View Wealth Advisors Group LLC grew its stake in shares of Home Depot by 4.3% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 35,467 shares of the home improvement retailer’s stock worth $13,796,000 after purchasing an additional 1,469 shares during the last quarter. Finally, Enterprise Financial Services Corp raised its position in Home Depot by 8.1% during the 4th quarter. Enterprise Financial Services Corp now owns 3,258 shares of the home improvement retailer’s stock worth $1,267,000 after purchasing an additional 244 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Truist Financial decreased their price target on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and boosted their price target for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Robert W. Baird decreased their price objective on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Mizuho increased their price target on Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Royal Bank of Canada decreased their target price on Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Price Performance

Shares of NYSE:HD opened at $376.66 on Monday. The company has a market capitalization of $374.16 billion, a P/E ratio of 25.59, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The company’s 50-day moving average is $400.21 and its 200 day moving average is $400.02. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping 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 company 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 firm posted $2.82 EPS. Home Depot’s revenue was up 14.1% on a year-over-year basis. On average, equities research 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 declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a dividend of $2.30 per share. 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 dividend yield of 2.44%. Home Depot’s dividend payout ratio is presently 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.