Pennsylvania Trust Co boosted its holdings in Home Depot Inc (NYSE:HD) by 0.3% during the fourth quarter, Holdings Channel reports. The fund owned 184,749 shares of the home improvement retailer’s stock after buying an additional 584 shares during the quarter. Home Depot accounts for 1.6% of Pennsylvania Trust Co’s investment portfolio, making the stock its 9th largest holding. Pennsylvania Trust Co’s holdings in Home Depot were worth $35,015,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Atlantic Trust LLC increased its position in shares of Home Depot by 12.8% during the 2nd quarter. Atlantic Trust LLC now owns 20,332 shares of the home improvement retailer’s stock valued at $3,119,000 after purchasing an additional 2,309 shares during the last quarter. APG Asset Management N.V. increased its position in shares of Home Depot by 6.3% during the 3rd quarter. APG Asset Management N.V. now owns 2,242,180 shares of the home improvement retailer’s stock valued at $366,731,000 after purchasing an additional 133,300 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Home Depot by 0.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,133,380 shares of the home improvement retailer’s stock valued at $512,473,000 after purchasing an additional 8,344 shares during the last quarter. HM Payson & Co. increased its position in shares of Home Depot by 88.2% during the 3rd quarter. HM Payson & Co. now owns 143,617 shares of the home improvement retailer’s stock valued at $23,490,000 after purchasing an additional 67,309 shares during the last quarter. Finally, Andra AP fonden increased its position in shares of Home Depot by 1.4% during the 2nd quarter. Andra AP fonden now owns 106,299 shares of the home improvement retailer’s stock valued at $16,306,000 after purchasing an additional 1,499 shares during the last quarter. Institutional investors and hedge funds own 69.63% of the company’s stock.
HD has been the topic of several recent research reports. Argus increased their price objective on Home Depot from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, November 15th. BMO Capital Markets set a $176.00 price objective on Home Depot and gave the company a “buy” rating in a research report on Wednesday, November 15th. UBS Group reiterated a “buy” rating and set a $186.00 price objective (up from $175.00) on shares of Home Depot in a research report on Wednesday, November 15th. Robert W. Baird set a $185.00 price objective on Home Depot and gave the company a “buy” rating in a research report on Tuesday, November 14th. They noted that the move was a valuation call. Finally, Oppenheimer set a $178.00 price objective on Home Depot and gave the company a “buy” rating in a research report on Tuesday, November 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. Home Depot has a consensus rating of “Buy” and a consensus price target of $193.15.
Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.07. Home Depot had a return on equity of 306.73% and a net margin of 8.55%. The business had revenue of $23.88 billion during the quarter, compared to analysts’ expectations of $23.65 billion. During the same quarter last year, the business posted $1.44 EPS. The business’s revenue was up 7.5% on a year-over-year basis. sell-side analysts forecast that Home Depot Inc will post 9.38 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 22nd. Shareholders of record on Thursday, March 8th will be issued a $1.03 dividend. The ex-dividend date of this dividend is Wednesday, March 7th. This represents a $4.12 annualized dividend and a yield of 2.26%. This is a boost from Home Depot’s previous quarterly dividend of $0.89. Home Depot’s dividend payout ratio (DPR) is 56.59%.
Home Depot declared that its board has approved a share buyback plan on Wednesday, December 6th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the home improvement retailer to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
In other news, CEO Craig A. Menear sold 113,687 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $183.79, for a total value of $20,894,533.73. Following the completion of the transaction, the chief executive officer now owns 237,957 shares in the company, valued at approximately $43,734,117.03. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Armando M. Codina bought 6,650 shares of the stock in a transaction dated Friday, March 2nd. The stock was purchased at an average price of $178.66 per share, with a total value of $1,188,089.00. Following the purchase, the director now owns 42,300 shares in the company, valued at $7,557,318. The disclosure for this purchase can be found here. In the last quarter, insiders sold 169,027 shares of company stock valued at $31,220,882. Company insiders own 0.26% of the company’s stock.
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About Home Depot
The Home Depot, Inc (The Home Depot) is a home improvement retailer. The Company sells an assortment of building materials, home improvement products, and lawn and garden products, and provides various services. The Home Depot stores serves three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.
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