Washington Trust Advisors Inc. Has $2.45 Million Holdings in The Home Depot, Inc. (NYSE:HD)

Washington Trust Advisors Inc. lessened its stake in The Home Depot, Inc. (NYSE:HD – Get Rating) by 6.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,923 shares of the home improvement retailer’s stock after selling 629 shares during the quarter. Washington Trust Advisors Inc.’s holdings in Home Depot were worth $2,447,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. McDonald Partners LLC raised its stake in Home Depot by 2.3% in the 2nd quarter. McDonald Partners LLC now owns 5,969 shares of the home improvement retailer’s stock valued at $1,637,000 after acquiring an additional 135 shares during the period. DT Investment Partners LLC raised its stake in Home Depot by 6.1% in the 2nd quarter. DT Investment Partners LLC now owns 15,509 shares of the home improvement retailer’s stock valued at $4,254,000 after acquiring an additional 892 shares during the period. Legacy Advisors LLC raised its stake in Home Depot by 60.8% in the 2nd quarter. Legacy Advisors LLC now owns 5,871 shares of the home improvement retailer’s stock valued at $1,610,000 after acquiring an additional 2,220 shares during the period. BTC Capital Management Inc. raised its stake in Home Depot by 2.1% in the 2nd quarter. BTC Capital Management Inc. now owns 19,268 shares of the home improvement retailer’s stock valued at $5,283,000 after acquiring an additional 389 shares during the period. Finally, Walker Asset Management LLC raised its stake in Home Depot by 6,100.0% in the 2nd quarter. Walker Asset Management LLC now owns 175,646 shares of the home improvement retailer’s stock valued at $51,858,000 after acquiring an additional 172,813 shares during the period. Institutional investors and hedge funds own 68.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on HD shares. Raymond James increased their price target on Home Depot from $340.00 to $350.00 and gave the company an “outperform” rating in a research note on Wednesday, August 17th. MKM Partners began coverage on Home Depot in a research report on Thursday, June 23rd. They set a “neutral” rating and a $285.00 price objective on the stock. Jefferies Financial Group increased their price objective on Home Depot from $392.00 to $394.00 and gave the stock a “buy” rating in a research report on Monday, October 3rd. Robert W. Baird increased their price objective on Home Depot from $335.00 to $360.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 16th. Finally, Morgan Stanley increased their price objective on Home Depot from $350.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 17th. Five research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $365.68.

Home Depot Stock Down 2.1 %

HD stock opened at $284.32 on Friday. The firm has a 50-day moving average price of $295.01 and a 200-day moving average price of $296.08. The Home Depot, Inc. has a 12 month low of $264.51 and a 12 month high of $420.61. The company has a current ratio of 1.18, a quick ratio of 0.25 and a debt-to-equity ratio of 165.70. The stock has a market capitalization of $291.07 billion, a P/E ratio of 17.48, a price-to-earnings-growth ratio of 1.55 and a beta of 0.95.

Home Depot (NYSE:HD – Get Rating) last issued its quarterly earnings data on Tuesday, August 16th. The home improvement retailer reported $5.05 EPS for the quarter, beating the consensus estimate of $4.95 by $0.10. The business had revenue of $43.79 billion during the quarter, compared to the consensus estimate of $43.33 billion. Home Depot had a net margin of 10.88% and a negative return on equity of 3,166.43%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.53 EPS. As a group, equities research analysts anticipate that The Home Depot, Inc. will post 16.64 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were given a dividend of $1.90 per share. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $7.60 dividend on an annualized basis and a yield of 2.67%. Home Depot’s dividend payout ratio is currently 46.71%.

Home Depot announced that its board has approved a share repurchase plan on Thursday, August 18th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the home improvement retailer to buy up to 4.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, EVP Fahim Siddiqui sold 1,000 shares of Home Depot stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $300.59, for a total transaction of $300,590.00. Following the sale, the executive vice president now directly owns 6,180 shares of the company’s stock, valued at $1,857,646.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Home Depot news, EVP Fahim Siddiqui sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $300.59, for a total transaction of $300,590.00. Following the sale, the executive vice president now directly owns 6,180 shares of the company’s stock, valued at approximately $1,857,646.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Matt Carey sold 12,650 shares of the firm’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $316.26, for a total transaction of $4,000,689.00. Following the transaction, the executive vice president now directly owns 34,522 shares of the company’s stock, valued at approximately $10,917,927.72. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

Home Depot Profile

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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 facilities maintenance, repair, and operations products The company also offers installation services for flooring, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.

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