Welch & Forbes LLC reduced its stake in shares of Home Depot Inc (NYSE:HD) by 0.2% during the 4th quarter, Holdings Channel reports. The firm owned 453,124 shares of the home improvement retailer’s stock after selling 1,108 shares during the quarter. Home Depot comprises about 2.2% of Welch & Forbes LLC’s holdings, making the stock its 8th largest position. Welch & Forbes LLC’s holdings in Home Depot were worth $77,856,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in HD. Paragon Capital Management LLC boosted its stake in Home Depot by 32.3% in the fourth quarter. Paragon Capital Management LLC now owns 1,654 shares of the home improvement retailer’s stock valued at $284,000 after acquiring an additional 404 shares during the last quarter. RDL Financial Inc. raised its holdings in Home Depot by 5.2% in the fourth quarter. RDL Financial Inc. now owns 13,805 shares of the home improvement retailer’s stock worth $2,372,000 after purchasing an additional 678 shares during the period. PFG Advisors acquired a new stake in Home Depot in the fourth quarter worth $702,000. Prudential Financial Inc. raised its holdings in Home Depot by 3.5% in the third quarter. Prudential Financial Inc. now owns 1,348,582 shares of the home improvement retailer’s stock worth $279,359,000 after purchasing an additional 45,754 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new stake in Home Depot in the fourth quarter worth $1,706,000. 70.93% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:HD traded up $0.20 during midday trading on Friday, reaching $192.58. 5,215,528 shares of the company were exchanged, compared to its average volume of 3,274,248. Home Depot Inc has a fifty-two week low of $158.09 and a fifty-two week 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. The firm has a market cap of $212.37 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 1.67 and a beta of 1.09.
Home Depot announced that its Board of Directors has initiated a stock 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 stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
In related news, EVP Ann Marie Campbell sold 5,450 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $184.67, for a total transaction of $1,006,451.50. Following the sale, the executive vice president now directly owns 51,030 shares in the company, valued at $9,423,710.10. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Edward P. Decker sold 23,744 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $182.93, for a total transaction of $4,343,489.92. Following the sale, the executive vice president now owns 86,813 shares in the company, valued at $15,880,702.09. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,194 shares of company stock worth $7,553,141. 0.27% of the stock is currently owned by company insiders.
Several equities research analysts have weighed in on HD shares. Edward Jones upgraded shares of Home Depot from a “hold” rating to a “buy” rating in a report on Wednesday, February 13th. DZ Bank lowered shares of Home Depot from a “buy” rating to a “hold” rating in a report on Wednesday, February 27th. Zacks Investment Research lowered shares of Home Depot from a “hold” rating to a “sell” rating in a report on Tuesday, May 7th. Telsey Advisory Group reiterated a “market perform” rating and issued a $192.00 target price on shares of Home Depot in a report on Wednesday, May 1st. Finally, Royal Bank of Canada cut their target price on shares of Home Depot from $223.00 to $217.00 and set a “buy” rating on the stock in a report on Tuesday, May 7th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $204.71.
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Home Depot Company 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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