Enterprise Bank & Trust Co Grows Stock Position in The Home Depot, Inc. (NYSE:HD)

Enterprise Bank & Trust Co grew its holdings in The Home Depot, Inc. (NYSE:HD) by 0.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,493 shares of the home improvement retailer’s stock after acquiring an additional 59 shares during the quarter. Home Depot accounts for approximately 1.2% of Enterprise Bank & Trust Co’s holdings, making the stock its 17th largest holding. Enterprise Bank & Trust Co’s holdings in Home Depot were worth $3,847,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Wulff Hansen & CO. increased its position in shares of Home Depot by 33,540.9% in the 2nd quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock valued at $509,081,000 after acquiring an additional 1,474,459 shares during the period. Alphinity Investment Management Pty Ltd purchased a new stake in Home Depot during the 1st quarter valued at about $513,016,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Home Depot by 15.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock valued at $2,853,143,000 after purchasing an additional 971,833 shares during the period. Swedbank AB purchased a new position in shares of Home Depot in the first quarter worth about $301,364,000. Finally, Jennison Associates LLC boosted its position in Home Depot by 13.1% in the first quarter. Jennison Associates LLC now owns 4,917,286 shares of the home improvement retailer’s stock valued at $1,886,271,000 after buying an additional 569,690 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Up 0.5 %

Shares of HD opened at $416.07 on Thursday. The stock has a 50 day moving average price of $375.22 and a 200 day moving average price of $356.30. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $420.03. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The stock has a market capitalization of $412.58 billion, a price-to-earnings ratio of 27.91, a PEG ratio of 2.71 and a beta of 1.00.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating 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 company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the business earned $4.65 earnings per share. Equities research analysts forecast that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio is currently 60.36%.

Wall Street Analysts Forecast Growth

Several analysts have commented on HD shares. Telsey Advisory Group restated a “market perform” rating and set a $360.00 price objective on shares of Home Depot in a research note on Thursday, September 12th. Gordon Haskett upgraded shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price for the company in a research report on Wednesday, October 2nd. Melius Research initiated coverage on shares of Home Depot in a report on Monday, September 23rd. They issued a “buy” rating and a $420.00 price target on the stock. Guggenheim lifted their price objective on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Finally, Stifel Nicolaus lowered their target price on Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $402.38.

Home Depot Company Profile

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.