Washington Trust Bank Trims Stake in The Home Depot, Inc. (NYSE:HD)

Washington Trust Bank lowered its stake in shares of The Home Depot, Inc. (NYSE:HD) by 2.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,116 shares of the home improvement retailer’s stock after selling 1,026 shares during the quarter. Home Depot comprises 1.8% of Washington Trust Bank’s portfolio, making the stock its 17th largest position. Washington Trust Bank’s holdings in Home Depot were worth $18,686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Abacus Wealth Partners LLC grew its position in Home Depot by 3.7% during the 3rd quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock worth $285,000 after purchasing an additional 25 shares during the last quarter. Redhawk Wealth Advisors Inc. grew its position in Home Depot by 0.7% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock worth $1,469,000 after purchasing an additional 25 shares during the last quarter. Ruedi Wealth Management Inc. grew its position in Home Depot by 1.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock worth $817,000 after purchasing an additional 27 shares during the last quarter. Acorn Creek Capital LLC grew its position in Home Depot by 3.4% during the 2nd quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock worth $291,000 after purchasing an additional 28 shares during the last quarter. Finally, Consolidated Portfolio Review Corp grew its position in Home Depot by 1.9% during the 3rd quarter. Consolidated Portfolio Review Corp now owns 1,524 shares of the home improvement retailer’s stock worth $617,000 after purchasing an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Trading Up 1.3 %

Shares of HD traded up $5.01 during mid-day trading on Thursday, reaching $393.38. The stock had a trading volume of 159,577 shares, compared to its average volume of 3,350,491. 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 Home Depot, Inc. has a 52-week low of $286.79 and a 52-week high of $421.56. The business’s fifty day moving average is $393.80 and its 200 day moving average is $363.10. The firm has a market cap of $390.74 billion, a price-to-earnings ratio of 26.24, a P/E/G ratio of 2.74 and a beta of 1.01.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. The firm had revenue of $43.18 billion during the quarter, compared to analyst estimates of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 733.61%. Home Depot’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.65 earnings per share. On average, sell-side analysts predict that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.29%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is presently 60.57%.

Analysts Set New Price Targets

Several research firms have weighed in on HD. Oppenheimer boosted their target price on shares of Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 24th. Wells Fargo & Company boosted their target price on shares of Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a research note on Wednesday. Truist Financial boosted their target price on shares of Home Depot from $455.00 to $459.00 and gave the company a “buy” rating in a research note on Thursday. 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 note on Wednesday, October 2nd. Finally, Barclays boosted their target price on shares of Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $416.52.

Home Depot 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.