Somerset Trust Co Reduces Stock Position in Home Depot Inc (NYSE:HD)

Share on StockTwits

Somerset Trust Co reduced its position in shares of Home Depot Inc (NYSE:HD) by 0.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,315 shares of the home improvement retailer’s stock after selling 91 shares during the period. Home Depot accounts for approximately 1.4% of Somerset Trust Co’s portfolio, making the stock its 28th largest position. Somerset Trust Co’s holdings in Home Depot were worth $2,865,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Home Depot by 6.7% during the second quarter. Vanguard Group Inc. now owns 91,547,627 shares of the home improvement retailer’s stock valued at $22,933,597,000 after purchasing an additional 5,714,595 shares in the last quarter. Capital Research Global Investors increased its stake in shares of Home Depot by 28.6% during the first quarter. Capital Research Global Investors now owns 21,071,595 shares of the home improvement retailer’s stock valued at $3,934,286,000 after purchasing an additional 4,690,072 shares in the last quarter. Advisor Group Holdings Inc. bought a new position in shares of Home Depot during the first quarter valued at approximately $77,291,000. Nordea Investment Management AB increased its stake in shares of Home Depot by 99.8% during the second quarter. Nordea Investment Management AB now owns 3,158,138 shares of the home improvement retailer’s stock valued at $780,250,000 after purchasing an additional 1,577,704 shares in the last quarter. Finally, Winslow Capital Management LLC increased its stake in shares of Home Depot by 86.0% during the second quarter. Winslow Capital Management LLC now owns 1,514,684 shares of the home improvement retailer’s stock valued at $379,444,000 after purchasing an additional 700,351 shares in the last quarter. Institutional investors own 69.00% of the company’s stock.

Shares of Home Depot stock traded up $0.12 on Friday, hitting $287.66. 3,109,401 shares of the company’s stock were exchanged, compared to its average volume of 4,963,838. The company has a 50-day simple moving average of $278.34 and a 200-day simple moving average of $251.27. The stock has a market capitalization of $309.65 billion, a PE ratio of 26.37, a PEG ratio of 2.38 and a beta of 1.09. Home Depot Inc has a 1 year low of $140.63 and a 1 year high of $292.95.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, August 18th. The home improvement retailer reported $4.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.20 by $0.82. The business had revenue of $38.05 billion for the quarter, compared to analysts’ expectations of $32.13 billion. Home Depot had a net margin of 9.91% and a negative return on equity of 583.91%. The company’s revenue was up 23.4% compared to the same quarter last year. During the same quarter last year, the company posted $3.17 EPS. Equities research analysts predict that Home Depot Inc will post 11.36 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 17th. Investors of record on Thursday, September 3rd were paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend was Wednesday, September 2nd. Home Depot’s dividend payout ratio (DPR) is 58.54%.

HD has been the subject of a number of analyst reports. Credit Suisse Group reaffirmed a “buy” rating and set a $300.00 target price on shares of Home Depot in a research note on Monday, August 17th. Nomura raised their price target on shares of Home Depot from $252.00 to $266.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Jefferies Financial Group raised their price target on shares of Home Depot from $306.00 to $332.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. BNP Paribas started coverage on shares of Home Depot in a research report on Monday, October 5th. They set an “outperform” rating and a $310.00 price target for the company. Finally, Robert W. Baird raised their price target on shares of Home Depot from $275.00 to $300.00 and gave the company an “outperform” rating in a research report on Thursday, August 13th. Eight equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. Home Depot presently has a consensus rating of “Buy” and an average price target of $288.79.

In related news, EVP Matt Carey sold 50,478 shares of Home Depot stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $276.43, for a total transaction of $13,953,633.54. Following the transaction, the executive vice president now owns 62,735 shares in the company, valued at approximately $17,341,836.05. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP William G. Lennie sold 13,199 shares of Home Depot stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $283.22, for a total transaction of $3,738,220.78. Following the transaction, the executive vice president now owns 49,736 shares in the company, valued at approximately $14,086,229.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 119,304 shares of company stock worth $32,088,591. 0.26% of the stock is owned by corporate insiders.

About Home Depot

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 d├ęcor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

Read More: How Do Front-End Loads Impact an Investment?

Institutional Ownership by Quarter for Home Depot (NYSE:HD)

Receive News & Ratings for Home Depot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Home Depot and related companies with MarketBeat.com's FREE daily email newsletter.