Putnam FL Investment Management Co. lifted its position in Home Depot Inc (NYSE:HD) by 9.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,669 shares of the home improvement retailer’s stock after acquiring an additional 2,954 shares during the period. Putnam FL Investment Management Co.’s holdings in Home Depot were worth $6,179,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Ford Financial Group Inc. purchased a new position in Home Depot during the fourth quarter valued at approximately $108,000. Earnest Partners LLC purchased a new position in Home Depot during the fourth quarter valued at approximately $108,000. Pinnacle Wealth Planning Services Inc. purchased a new position in Home Depot during the fourth quarter valued at approximately $112,000. Denali Advisors LLC purchased a new position in Home Depot during the fourth quarter valued at approximately $133,000. Finally, Keeler Thomas Management LLC purchased a new position in Home Depot during the fourth quarter valued at approximately $150,000. 69.11% of the stock is currently owned by institutional investors and hedge funds.
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A number of analysts have issued reports on the stock. Wells Fargo & Co set a $205.00 target price on shares of Home Depot and gave the company a “buy” rating in a research note on Tuesday, May 15th. Loop Capital set a $187.00 target price on shares of Home Depot and gave the company a “hold” rating in a research note on Tuesday, May 15th. Zacks Investment Research upgraded shares of Home Depot from a “sell” rating to a “hold” rating in a research note on Wednesday, May 16th. Deutsche Bank set a $210.00 target price on shares of Home Depot and gave the company a “buy” rating in a research note on Tuesday, May 15th. Finally, BMO Capital Markets lifted their target price on shares of Home Depot from $191.00 to $213.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $195.95.
In related news, Director Gregory D. Brenneman bought 16,827 shares of the business’s stock in a transaction that occurred on Wednesday, March 21st. The stock was purchased at an average cost of $178.29 per share, for a total transaction of $3,000,085.83. Following the purchase, the director now directly owns 46,332 shares in the company, valued at $8,260,532.28. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Stephanie Linnartz bought 1,000 shares of the business’s stock in a transaction that occurred on Friday, June 1st. The shares were bought at an average price of $187.57 per share, with a total value of $187,570.00. The disclosure for this purchase can be found here. 0.25% of the stock is owned by corporate insiders.
Home Depot opened at $200.69 on Tuesday, Marketbeat reports. The firm has a market cap of $231.33 billion, a P/E ratio of 26.90, a P/E/G ratio of 1.50 and a beta of 1.13. Home Depot Inc has a one year low of $144.25 and a one year high of $207.60. The company has a quick ratio of 0.37, a current ratio of 1.17 and a debt-to-equity ratio of 14.37.
Home Depot (NYSE:HD) last released its earnings results on Tuesday, May 15th. The home improvement retailer reported $2.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.05 by $0.03. The firm had revenue of $24.95 billion during the quarter, compared to analysts’ expectations of $25.17 billion. Home Depot had a net margin of 8.85% and a return on equity of 399.15%. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.67 EPS. analysts forecast that Home Depot Inc will post 9.45 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 14th. Investors of record on Thursday, May 31st were paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend was Wednesday, May 30th. Home Depot’s payout ratio is currently 55.23%.
About Home Depot
The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and d茅cor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
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