Laidlaw Wealth Management LLC Trims Stock Position in The Home Depot, Inc. (NYSE:HD)

Laidlaw Wealth Management LLC reduced its stake in shares of The Home Depot, Inc. (NYSE:HD) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,326 shares of the home improvement retailer’s stock after selling 36 shares during the quarter. Laidlaw Wealth Management LLC’s holdings in Home Depot were worth $516,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in HD. Lyell Wealth Management LP grew its position in Home Depot by 0.9% during the 4th quarter. Lyell Wealth Management LP now owns 43,747 shares of the home improvement retailer’s stock valued at $17,017,000 after purchasing an additional 369 shares during the last quarter. Cannon Financial Strategists Inc. grew its position in Home Depot by 0.8% during the 4th quarter. Cannon Financial Strategists Inc. now owns 3,957 shares of the home improvement retailer’s stock valued at $1,539,000 after purchasing an additional 31 shares during the last quarter. Joel Adams & Associates Inc. purchased a new stake in Home Depot during the 4th quarter valued at about $286,000. Global Retirement Partners LLC grew its position in Home Depot by 3.1% during the 4th quarter. Global Retirement Partners LLC now owns 35,353 shares of the home improvement retailer’s stock valued at $13,752,000 after purchasing an additional 1,067 shares during the last quarter. Finally, Convergence Investment Partners LLC grew its position in Home Depot by 14.0% during the 4th quarter. Convergence Investment Partners LLC now owns 14,210 shares of the home improvement retailer’s stock valued at $5,527,000 after purchasing an additional 1,746 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Trading Down 2.1 %

Shares of HD opened at $394.77 on Thursday. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. The company has a 50 day simple moving average of $403.17 and a two-hundred day simple moving average of $397.01. The firm has a market cap of $392.15 billion, a P/E ratio of 26.82, a price-to-earnings-growth ratio of 4.18 and a beta of 1.05.

Analyst Ratings Changes

Several analysts recently commented on the stock. TD Cowen increased their price objective on shares of Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Telsey Advisory Group upgraded shares of Home Depot from a “market perform” rating to an “outperform” rating and upped their target price for the company from $360.00 to $455.00 in a research note on Friday, November 8th. DA Davidson upped their target price on shares of Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Royal Bank of Canada upped their target price on shares of Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a research note on Monday, November 11th. Finally, Mizuho upped their target price on shares of Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $433.44.

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.