WASHINGTON TRUST Co lowered its position in shares of The Home Depot, Inc. (NYSE:HD – Free Report) by 1.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 119,721 shares of the home improvement retailer’s stock after selling 1,830 shares during the quarter. Home Depot accounts for about 1.7% of WASHINGTON TRUST Co’s holdings, making the stock its 15th largest position. WASHINGTON TRUST Co’s holdings in Home Depot were worth $48,511,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in HD. Fairway Wealth LLC acquired a new position in Home Depot in the 2nd quarter valued at approximately $25,000. Kings Path Partners LLC acquired a new position in Home Depot in the 2nd quarter valued at approximately $33,000. Denver PWM LLC acquired a new position in Home Depot in the 2nd quarter valued at approximately $40,000. Livelsberger Financial Advisory acquired a new position in Home Depot in the 3rd quarter valued at approximately $46,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Home Depot in the 2nd quarter valued at approximately $47,000. Institutional investors and hedge funds own 70.86% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have weighed in on HD shares. Oppenheimer upped their price objective on shares of Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research note on Tuesday, September 24th. Sanford C. Bernstein began coverage on shares of Home Depot in a research note on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 price target on the stock. Piper Sandler increased their price target on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Stifel Nicolaus dropped their price target on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. Finally, DA Davidson increased their price target on shares of Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $413.48.
Home Depot Price Performance
Shares of Home Depot stock opened at $393.80 on Friday. The Home Depot, Inc. has a fifty-two week low of $281.61 and a fifty-two week high of $421.56. The company has a market cap of $390.50 billion, a PE ratio of 26.41, a price-to-earnings-growth ratio of 2.78 and a beta of 1.00. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. The firm has a fifty day moving average price of $392.17 and a two-hundred day moving average price of $361.25.
Home Depot (NYSE:HD – Get Free Report) last announced its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. The business had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the company posted $4.65 EPS. Analysts expect that The Home Depot, Inc. will post 15.01 EPS for the current year.
Home Depot Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is currently 60.36%.
About Home Depot
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.
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