Waters Parkerson & CO. LLC increased its holdings in shares of Home Depot Inc (NYSE:HD) by 4.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 231,454 shares of the home improvement retailer’s stock after acquiring an additional 10,620 shares during the quarter. Home Depot makes up about 3.3% of Waters Parkerson & CO. LLC’s holdings, making the stock its 5th largest position. Waters Parkerson & CO. LLC’s holdings in Home Depot were worth $37,857,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the stock. Wela Strategies Inc. bought a new stake in shares of Home Depot in the second quarter valued at $217,000. Candriam Luxembourg S.C.A. raised its stake in shares of Home Depot by 13.9% in the second quarter. Candriam Luxembourg S.C.A. now owns 144,131 shares of the home improvement retailer’s stock valued at $22,111,000 after buying an additional 17,605 shares during the period. Welch & Forbes LLC raised its stake in shares of Home Depot by 6.1% in the second quarter. Welch & Forbes LLC now owns 472,497 shares of the home improvement retailer’s stock valued at $72,481,000 after buying an additional 27,000 shares during the period. Rand Wealth LLC raised its stake in shares of Home Depot by 3.1% in the second quarter. Rand Wealth LLC now owns 15,466 shares of the home improvement retailer’s stock valued at $2,372,000 after buying an additional 471 shares during the period. Finally, Smithfield Trust Co. raised its stake in shares of Home Depot by 0.3% in the second quarter. Smithfield Trust Co. now owns 8,387 shares of the home improvement retailer’s stock valued at $1,287,000 after buying an additional 25 shares during the period. Institutional investors and hedge funds own 70.63% of the company’s stock.
In related news, Director Armando M. Codina bought 6,650 shares of the stock in a transaction dated Friday, March 2nd. The stock was bought 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 approximately $7,557,318. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Craig A. Menear sold 113,687 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $183.79, for a total value of $20,894,533.73. Following the completion of the sale, the chief executive officer now directly owns 237,957 shares of the company’s stock, valued at approximately $43,734,117.03. The disclosure for this sale can be found here. In the last three months, insiders sold 169,027 shares of company stock valued at $31,220,882. 0.26% of the stock is currently owned by corporate insiders.
Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.07. Home Depot had a return on equity of 306.73% and a net margin of 8.55%. The firm had revenue of $23.88 billion during the quarter, compared to analysts’ expectations of $23.65 billion. During the same period in the prior year, the business earned $1.44 EPS. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. research analysts anticipate that Home Depot Inc will post 9.44 earnings per share for the current fiscal year.
Home Depot announced that its board has authorized a share repurchase plan on Wednesday, December 6th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the home improvement retailer to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Thursday, March 8th will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Wednesday, March 7th. This is a positive change from Home Depot’s previous quarterly dividend of $0.89. Home Depot’s payout ratio is 55.68%.
A number of research firms recently issued reports on HD. Credit Suisse Group reiterated a “hold” rating on shares of Home Depot in a research note on Tuesday, December 12th. Deutsche Bank boosted their price objective on Home Depot from $176.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, December 7th. SunTrust Banks boosted their price objective on Home Depot from $167.00 to $175.00 and gave the company a “hold” rating in a research note on Thursday, December 7th. Citigroup reiterated a “buy” rating and set a $213.00 price objective on shares of Home Depot in a research note on Thursday, December 7th. Finally, Bank of America reiterated a “buy” rating and set a $190.60 price objective (down from $219.00) on shares of Home Depot in a research note on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $193.15.
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Home Depot Profile
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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