The Home Depot, Inc. (NYSE:HD) Shares Sold by First Western Trust Bank

by · The Cerbat Gem

First Western Trust Bank cut its stake in The Home Depot, Inc. (NYSE:HD – Free Report) by 2.9% in the fourth quarter, HoldingsChannel reports. The fund owned 21,696 shares of the home improvement retailer’s stock after selling 655 shares during the period. Home Depot accounts for approximately 0.4% of First Western Trust Bank’s investment portfolio, making the stock its 19th largest holding. First Western Trust Bank’s holdings in Home Depot were worth $8,440,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Synergy Asset Management LLC acquired a new position in shares of Home Depot in the 4th quarter valued at $26,000. Wingate Wealth Advisors Inc. purchased a new position in Home Depot in the fourth quarter valued at $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Home Depot in the fourth quarter worth about $32,000. Sellwood Investment Partners LLC purchased a new stake in shares of Home Depot during the 4th quarter worth about $39,000. Finally, NewSquare Capital LLC grew its position in shares of Home Depot by 200.0% during the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after acquiring an additional 68 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Trading Down 4.1 %

HD opened at $355.77 on Friday. The stock has a market capitalization of $353.64 billion, a PE ratio of 24.17, a P/E/G ratio of 4.03 and a beta of 1.08. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The business’s 50 day moving average price is $386.11 and its 200 day moving average price is $398.35.

Home Depot (NYSE:HD – Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. The business had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company’s revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.82 EPS. As a group, equities research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.59%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot’s payout ratio is 61.66%.

Analyst Upgrades and Downgrades

HD has been the subject of a number of recent analyst reports. KGI Securities upgraded Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Telsey Advisory Group restated an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Guggenheim reaffirmed a “buy” rating and set a $450.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Wedbush reissued an “outperform” rating and set a $440.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Finally, HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and raised their price target for the company from $356.00 to $410.00 in a research note on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $435.85.

Get Our Latest Analysis on Home Depot

Home Depot Company Profile

(Free Report)

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.

Further Reading

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