Lowe Brockenbrough & Co. Inc. decreased its position in Home Depot Inc (NYSE:HD) by 0.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 38,449 shares of the home improvement retailer’s stock after selling 348 shares during the period. Home Depot accounts for 1.0% of Lowe Brockenbrough & Co. Inc.’s holdings, making the stock its 29th largest position. Lowe Brockenbrough & Co. Inc.’s holdings in Home Depot were worth $7,378,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Virtus ETF Advisers LLC acquired a new stake in shares of Home Depot in the fourth quarter valued at about $32,000. Thor Advisors LLC acquired a new stake in shares of Home Depot in the first quarter valued at about $32,000. Enlightenment Research LLC acquired a new stake in shares of Home Depot in the fourth quarter valued at about $34,000. Private Ocean LLC lifted its stake in shares of Home Depot by 53.3% in the fourth quarter. Private Ocean LLC now owns 207 shares of the home improvement retailer’s stock valued at $36,000 after purchasing an additional 72 shares during the period. Finally, Ironwood Financial llc lifted its stake in shares of Home Depot by 39.5% in the fourth quarter. Ironwood Financial llc now owns 286 shares of the home improvement retailer’s stock valued at $49,000 after purchasing an additional 81 shares during the period. 69.34% of the stock is owned by institutional investors and hedge funds.
HD opened at $205.77 on Monday. The firm has a market capitalization of $226.41 billion, a P/E ratio of 20.81, a P/E/G ratio of 1.90 and a beta of 1.10. The company has a debt-to-equity ratio of 17.68, a quick ratio of 0.26 and a current ratio of 1.04. Home Depot Inc has a 12-month low of $158.09 and a 12-month high of $215.43.
Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, May 21st. The home improvement retailer reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.10. The firm had revenue of $26.38 billion for the quarter, compared to analysts’ expectations of $26.34 billion. Home Depot had a net margin of 10.24% and a negative return on equity of 6,597.69%. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.08 earnings per share. As a group, equities research analysts anticipate that Home Depot Inc will post 10.1 EPS for the current fiscal year.
Home Depot announced that its board has authorized a stock repurchase plan on Tuesday, February 26th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the home improvement retailer to reacquire up to 6.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, June 6th will be issued a $1.36 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $5.44 annualized dividend and a yield of 2.64%. Home Depot’s dividend payout ratio is presently 55.01%.
In other Home Depot news, EVP Timothy A. Hourigan sold 13,000 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $193.30, for a total transaction of $2,512,900.00. Following the completion of the sale, the executive vice president now owns 64,575 shares in the company, valued at $12,482,347.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Teresa Wynn Roseborough sold 8,500 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $194.38, for a total transaction of $1,652,230.00. Following the sale, the executive vice president now owns 13,357 shares of the company’s stock, valued at approximately $2,596,333.66. The disclosure for this sale can be found here. Insiders sold 82,522 shares of company stock worth $16,156,831 over the last ninety days. 0.27% of the stock is currently owned by corporate insiders.
Several brokerages recently commented on HD. Telsey Advisory Group cut shares of Home Depot from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $205.00 to $192.00 in a research note on Wednesday, February 27th. Zacks Investment Research cut shares of Home Depot from a “hold” rating to a “sell” rating in a research note on Wednesday, May 1st. Bank of America reiterated a “neutral” rating and set a $202.00 price target on shares of Home Depot in a report on Thursday, April 11th. Credit Suisse Group set a $194.00 target price on shares of Home Depot and gave the company a “hold” rating in a report on Tuesday, February 26th. Finally, Wells Fargo & Co boosted their target price on shares of Home Depot from $205.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $205.29.
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Home Depot Profile
The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
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