Meritage Portfolio Management Sells 3,592 Shares of Home Depot Inc (NYSE:HD)

Meritage Portfolio Management cut its position in Home Depot Inc (NYSE:HD) by 3.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 105,297 shares of the home improvement retailer’s stock after selling 3,592 shares during the quarter. Home Depot accounts for about 2.1% of Meritage Portfolio Management’s portfolio, making the stock its 8th largest holding. Meritage Portfolio Management’s holdings in Home Depot were worth $18,092,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Ironwood Financial llc increased its position in Home Depot by 39.5% in the 4th quarter. Ironwood Financial llc now owns 286 shares of the home improvement retailer’s stock valued at $49,000 after acquiring an additional 81 shares during the period. Avondale Wealth Management increased its position in Home Depot by 52.4% in the 4th quarter. Avondale Wealth Management now owns 349 shares of the home improvement retailer’s stock valued at $60,000 after acquiring an additional 120 shares during the period. Fusion Family Wealth LLC increased its position in Home Depot by 43.6% in the 4th quarter. Fusion Family Wealth LLC now owns 405 shares of the home improvement retailer’s stock valued at $70,000 after acquiring an additional 123 shares during the period. Horan Securities Inc. increased its position in Home Depot by 44.0% in the 4th quarter. Horan Securities Inc. now owns 540 shares of the home improvement retailer’s stock valued at $97,000 after acquiring an additional 165 shares during the period. Finally, Highwater Wealth Management LLC acquired a new position in Home Depot in the 4th quarter valued at approximately $124,000. Institutional investors own 70.96% of the company’s stock.

In other Home Depot news, EVP Edward P. Decker sold 23,744 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $182.93, for a total value of $4,343,489.92. Following the transaction, the executive vice president now directly owns 86,813 shares of the company’s stock, valued at $15,880,702.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Holifield sold 12,000 shares of the firm’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $183.60, for a total transaction of $2,203,200.00. Following the completion of the transaction, the executive vice president now directly owns 39,794 shares in the company, valued at $7,306,178.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,194 shares of company stock worth $7,553,141. 0.27% of the stock is owned by insiders.

Several equities analysts have issued reports on the stock. Citigroup decreased their price target on shares of Home Depot from $224.00 to $218.00 and set a “buy” rating for the company in a research report on Monday, April 1st. Robert W. Baird restated a “positive” rating on shares of Home Depot in a research report on Thursday, April 25th. Bank of America reaffirmed a “neutral” rating and issued a $202.00 price objective on shares of Home Depot in a research note on Thursday, April 11th. Evercore ISI initiated coverage on shares of Home Depot in a research note on Wednesday, March 20th. They issued an “outperform” rating and a $215.00 price objective on the stock. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $192.00 price objective on shares of Home Depot in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company’s stock. Home Depot has a consensus rating of “Buy” and a consensus price target of $204.18.

NYSE HD traded down $0.45 on Friday, hitting $200.56. 3,583,425 shares of the company were exchanged, compared to its average volume of 4,312,950. The firm has a market cap of $221.40 billion, a PE ratio of 20.28, a P/E/G ratio of 1.77 and a beta of 1.09. Home Depot Inc has a 12 month low of $158.09 and a 12 month high of $215.43. The company has a quick ratio of 0.28, a current ratio of 1.11 and a debt-to-equity ratio of 17.68.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, February 26th. The home improvement retailer reported $2.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.16 by $0.09. The business had revenue of $26.49 billion for the quarter, compared to analyst estimates of $26.57 billion. Home Depot had a net margin of 10.28% and a return on equity of 1,441.05%. Home Depot’s revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.69 earnings per share. On average, equities analysts predict that Home Depot Inc will post 10.09 earnings per share for the current year.

Home Depot declared that its board has authorized a share repurchase plan on Tuesday, February 26th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the home improvement retailer to repurchase up to 6.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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Home Depot Profile

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 décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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