Gateway Wealth Partners LLC Has $435,000 Stock Position in The Home Depot, Inc. (NYSE:HD)

by · The Markets Daily

Gateway Wealth Partners LLC lowered its holdings in shares of The Home Depot, Inc. (NYSE:HD – Free Report) by 4.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,073 shares of the home improvement retailer’s stock after selling 55 shares during the period. Gateway Wealth Partners LLC’s holdings in Home Depot were worth $435,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Wells Trecaso Financial Group LLC raised its stake in shares of Home Depot by 0.8% during the third quarter. Wells Trecaso Financial Group LLC now owns 19,019 shares of the home improvement retailer’s stock valued at $7,706,000 after acquiring an additional 148 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of Home Depot by 40.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 16,432 shares of the home improvement retailer’s stock valued at $6,658,000 after acquiring an additional 4,751 shares during the last quarter. Traynor Capital Management Inc. raised its stake in shares of Home Depot by 2.7% during the third quarter. Traynor Capital Management Inc. now owns 45,345 shares of the home improvement retailer’s stock valued at $18,374,000 after acquiring an additional 1,199 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. raised its stake in Home Depot by 1.1% during the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 15,325 shares of the home improvement retailer’s stock worth $6,210,000 after buying an additional 161 shares during the last quarter. Finally, Worth Financial Advisory Group LLC raised its stake in Home Depot by 6.6% during the third quarter. Worth Financial Advisory Group LLC now owns 3,745 shares of the home improvement retailer’s stock worth $1,517,000 after buying an additional 232 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Home Depot Stock Down 1.9 %

Home Depot stock opened at $395.10 on Wednesday. The Home Depot, Inc. has a fifty-two week low of $276.96 and a fifty-two week high of $421.56. The stock has a market cap of $391.79 billion, a PE ratio of 26.50, a price-to-earnings-growth ratio of 2.78 and a beta of 1.00. The firm’s 50-day simple moving average is $391.17 and its 200 day simple moving average is $360.80. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15.

Home Depot (NYSE:HD – Get Free Report) last released its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping the consensus estimate of $4.59 by $0.08. The business had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the company earned $4.65 earnings per share. Research analysts predict that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date was Thursday, August 29th. Home Depot’s payout ratio is 60.36%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. UBS Group lifted their target price on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Morgan Stanley lifted their price target on shares of Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Gordon Haskett raised shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price target for the company in a research note on Wednesday, October 2nd. Piper Sandler lifted their price target on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Finally, Truist Financial lifted their price target on shares of Home Depot from $395.00 to $455.00 and gave the company a “buy” rating in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $413.48.

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About Home Depot

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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.

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