Dynamic Advisor Solutions LLC trimmed its stake in shares of The Home Depot, Inc. (NYSE:HD) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,359 shares of the home improvement retailer’s stock after selling 168 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in The Home Depot were worth $7,449,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Providence Capital Advisors LLC raised its position in shares of The Home Depot by 2.2% during the 2nd quarter. Providence Capital Advisors LLC now owns 15,783 shares of the home improvement retailer’s stock worth $5,033,000 after purchasing an additional 343 shares during the period. Clark Capital Management Group Inc. increased its position in The Home Depot by 3.3% in the 2nd quarter. Clark Capital Management Group Inc. now owns 99,872 shares of the home improvement retailer’s stock valued at $31,848,000 after acquiring an additional 3,213 shares during the period. LaFleur & Godfrey LLC increased its position in The Home Depot by 490.0% in the 2nd quarter. LaFleur & Godfrey LLC now owns 13,812 shares of the home improvement retailer’s stock valued at $4,405,000 after acquiring an additional 11,471 shares during the period. GW Henssler & Associates Ltd. increased its position in The Home Depot by 4.7% in the 2nd quarter. GW Henssler & Associates Ltd. now owns 25,494 shares of the home improvement retailer’s stock valued at $8,130,000 after acquiring an additional 1,156 shares during the period. Finally, Frisch Financial Group Inc. increased its position in The Home Depot by 11.3% in the 1st quarter. Frisch Financial Group Inc. now owns 7,347 shares of the home improvement retailer’s stock valued at $2,243,000 after acquiring an additional 748 shares during the period. Institutional investors and hedge funds own 68.97% of the company’s stock.
In related news, EVP Teresa Wynn Roseborough sold 5,000 shares of the stock in a transaction on Monday, August 23rd. The stock was sold at an average price of $328.65, for a total transaction of $1,643,250.00. Following the completion of the sale, the executive vice president now directly owns 19,760 shares in the company, valued at $6,494,124. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Hector A. Padilla sold 1,154 shares of the stock in a transaction on Wednesday, August 18th. The stock was sold at an average price of $325.62, for a total value of $375,765.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,622 shares of company stock valued at $24,302,611. 0.18% of the stock is currently owned by insiders.
The Home Depot (NYSE:HD) last issued its earnings results on Monday, August 16th. The home improvement retailer reported $4.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.43 by $0.10. The business had revenue of $41.12 billion during the quarter, compared to analysts’ expectations of $40.74 billion. The Home Depot had a return on equity of 709.19% and a net margin of 10.55%. The Home Depot’s revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the firm posted $4.02 earnings per share. Sell-side analysts expect that The Home Depot, Inc. will post 14.45 EPS for the current year.
The Home Depot declared that its board has authorized a stock buyback plan on Thursday, May 20th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the home improvement retailer to repurchase up to 5.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 16th. Stockholders of record on Thursday, September 2nd will be given a $1.65 dividend. The ex-dividend date of this dividend is Wednesday, September 1st. This represents a $6.60 annualized dividend and a dividend yield of 1.99%. The Home Depot’s dividend payout ratio (DPR) is presently 54.86%.
Several analysts recently commented on the company. OTR Global cut The Home Depot to a “positive” rating in a research report on Tuesday, August 10th. Loop Capital lifted their price target on The Home Depot from $350.00 to $370.00 and gave the company a “buy” rating in a research report on Wednesday, May 19th. Raymond James lifted their price target on The Home Depot from $350.00 to $360.00 and gave the company an “outperform” rating in a research report on Monday, August 16th. Zacks Investment Research cut The Home Depot from a “strong-buy” rating to a “hold” rating and set a $338.00 price target on the stock. in a research report on Tuesday, July 20th. Finally, Credit Suisse Group lifted their price target on The Home Depot from $319.00 to $330.00 and gave the company an “outperform” rating in a research report on Tuesday, May 25th. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $339.52.
The Home Depot Company Profile
The Home Depot, Inc engages in the sale of building materials and home improvement products. Its products include building materials, home improvement products, lawn and garden products and decor products. The firm operates through the following geographical segments: U.S., Canada and Mexico. It offers home improvement installation services, and tool and equipment rental.
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