Somerset Trust Co lifted its position in shares of Home Depot Inc (NYSE:HD) by 16.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,143 shares of the home improvement retailer’s stock after purchasing an additional 2,277 shares during the period. Home Depot accounts for approximately 1.5% of Somerset Trust Co’s portfolio, making the stock its 14th largest position. Somerset Trust Co’s holdings in Home Depot were worth $3,060,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the company. Jacobi Capital Management LLC lifted its holdings in Home Depot by 16.4% in the second quarter. Jacobi Capital Management LLC now owns 717 shares of the home improvement retailer’s stock worth $108,000 after buying an additional 101 shares during the period. Burt Wealth Advisors lifted its holdings in Home Depot by 83.5% in the third quarter. Burt Wealth Advisors now owns 870 shares of the home improvement retailer’s stock worth $142,000 after buying an additional 396 shares during the period. Patriot Financial Group Insurance Agency LLC lifted its holdings in Home Depot by 63.4% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 876 shares of the home improvement retailer’s stock worth $145,000 after buying an additional 340 shares during the period. Empire Life Investments Inc. lifted its holdings in Home Depot by 233.4% in the third quarter. Empire Life Investments Inc. now owns 957 shares of the home improvement retailer’s stock worth $157,000 after buying an additional 670 shares during the period. Finally, Glassman Wealth Services lifted its holdings in Home Depot by 38.3% in the second quarter. Glassman Wealth Services now owns 1,084 shares of the home improvement retailer’s stock worth $166,000 after buying an additional 300 shares during the period. Institutional investors own 70.63% of the company’s stock.
Shares of Home Depot Inc (HD) opened at $178.35 on Wednesday. The firm has a market cap of $208,270.00, a P/E ratio of 24.10, a P/E/G ratio of 1.40 and a beta of 1.14. The company has a current ratio of 1.17, a quick ratio of 0.38 and a debt-to-equity ratio of 16.69. Home Depot Inc has a 1 year low of $144.25 and a 1 year high of $207.60.
Home Depot announced that its board has approved a share repurchase program 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 programs are generally an indication that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 22nd. Investors of record on Thursday, March 8th will be given a dividend of $1.03 per share. The ex-dividend date of this dividend is Wednesday, March 7th. This represents a $4.12 annualized dividend and a dividend yield of 2.31%. This is an increase from Home Depot’s previous quarterly dividend of $0.89. Home Depot’s dividend payout ratio (DPR) is 55.68%.
In other Home Depot news, EVP Edward P. Decker sold 17,660 shares of Home Depot stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $187.32, for a total value of $3,308,071.20. Following the completion of the sale, the executive vice president now owns 73,815 shares of the company’s stock, valued at approximately $13,827,025.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Armando M. Codina bought 6,650 shares of the business’s stock in a transaction on Friday, March 2nd. The stock was bought at an average cost of $178.66 per share, with a total value of $1,188,089.00. Following the transaction, the director now owns 42,300 shares in the company, valued at approximately $7,557,318. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 169,027 shares of company stock valued at $31,220,882. 0.26% of the stock is currently owned by insiders.
Several analysts have commented on HD shares. BMO Capital Markets raised their price objective on shares of Home Depot from $191.00 to $213.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. BTIG Research raised their price objective on shares of Home Depot to $215.00 and gave the stock a “buy” rating in a report on Thursday, December 7th. Argus raised their price objective on shares of Home Depot from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, November 15th. Oppenheimer set a $178.00 price objective on shares of Home Depot and gave the stock a “buy” rating in a report on Tuesday, November 14th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $223.00 target price on shares of Home Depot in a research note on Monday, February 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-two 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 target price of $193.15.
Home Depot Company 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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