Twin Capital Management Inc. reduced its position in shares of The Home Depot Inc. (NYSE:HD) by 6.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,030 shares of the home improvement retailer’s stock after selling 6,730 shares during the period. The Home Depot accounts for 0.9% of Twin Capital Management Inc.’s holdings, making the stock its 20th largest position. Twin Capital Management Inc.’s holdings in The Home Depot were worth $12,517,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the stock. Kelman Lazarov Inc. purchased a new position in The Home Depot during the first quarter valued at about $462,000. Benin Management CORP increased its position in The Home Depot by 3.6% in the first quarter. Benin Management CORP now owns 2,844 shares of the home improvement retailer’s stock valued at $379,000 after buying an additional 100 shares during the period. FirstMerit Bank N A Trustee increased its position in The Home Depot by 0.8% in the first quarter. FirstMerit Bank N A Trustee now owns 110,275 shares of the home improvement retailer’s stock valued at $14,714,000 after buying an additional 918 shares during the period. Fox Run Management L.L.C. purchased a new position in The Home Depot during the first quarter valued at about $320,000. Finally, BLB&B Advisors LLC purchased a new position in The Home Depot during the first quarter valued at about $250,000. 71.86% of the stock is owned by institutional investors.
The Home Depot Inc. (NYSE:HD) traded up 0.93% during midday trading on Friday, hitting $129.12. The company had a trading volume of 2,978,556 shares. The company has a market cap of $159.54 billion, a P/E ratio of 21.86 and a beta of 0.91. The Home Depot Inc. has a one year low of $109.62 and a one year high of $139.00. The company’s 50 day moving average is $131.67 and its 200-day moving average is $132.62.
The Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, August 16th. The home improvement retailer reported $1.97 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.97. The Home Depot had a return on equity of 110.52% and a net margin of 8.08%. The company earned $26.47 billion during the quarter, compared to the consensus estimate of $26.47 billion. During the same period last year, the business earned $1.71 EPS. The business’s quarterly revenue was up 6.6% on a year-over-year basis. On average, equities analysts predict that The Home Depot Inc. will post $6.33 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date was Tuesday, August 30th. The Home Depot’s dividend payout ratio is 46.54%.
Several research firms have recently issued reports on HD. Vetr raised The Home Depot from a “hold” rating to a “buy” rating and set a $140.30 price target for the company in a research note on Thursday, September 8th. Stifel Nicolaus began coverage on shares of The Home Depot in a research note on Tuesday, August 2nd. They issued a “buy” rating and a $157.00 target price for the company. Royal Bank Of Canada boosted their target price on shares of The Home Depot from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, August 17th. Morgan Stanley set a $145.00 target price on shares of The Home Depot and gave the company a “hold” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. reissued a “buy” rating and issued a $142.00 target price on shares of The Home Depot in a research note on Tuesday, August 16th. Seven investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $147.36.
In other news, CFO Carol B. Tome sold 97,610 shares of the stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $135.35, for a total transaction of $13,211,513.50. Following the transaction, the chief financial officer now owns 644,831 shares of the company’s stock, valued at approximately $87,277,875.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Matt Carey sold 29,357 shares of the stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $136.26, for a total value of $4,000,184.82. Following the transaction, the executive vice president now directly owns 88,872 shares in the company, valued at approximately $12,109,698.72. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.
About The Home Depot
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 serve three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.
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