Welch & Forbes LLC Has $100.01 Million Stock Position in Home Depot Inc (NYSE:HD)

Welch & Forbes LLC trimmed its holdings in shares of Home Depot Inc (NYSE:HD) by 0.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 431,025 shares of the home improvement retailer’s stock after selling 4,030 shares during the quarter. Home Depot accounts for approximately 2.4% of Welch & Forbes LLC’s investment portfolio, making the stock its 8th largest holding. Welch & Forbes LLC’s holdings in Home Depot were worth $100,007,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Community Trust & Investment Co. grew its stake in shares of Home Depot by 1.6% during the third quarter. Community Trust & Investment Co. now owns 2,736 shares of the home improvement retailer’s stock worth $635,000 after acquiring an additional 43 shares during the last quarter. First American Trust FSB boosted its position in Home Depot by 2.1% in the third quarter. First American Trust FSB now owns 2,186 shares of the home improvement retailer’s stock valued at $508,000 after buying an additional 45 shares during the last quarter. Lindbrook Capital LLC boosted its position in Home Depot by 1.6% in the second quarter. Lindbrook Capital LLC now owns 3,056 shares of the home improvement retailer’s stock valued at $635,000 after buying an additional 49 shares during the last quarter. First Command Financial Services Inc. boosted its position in Home Depot by 0.9% in the second quarter. First Command Financial Services Inc. now owns 5,608 shares of the home improvement retailer’s stock valued at $1,167,000 after buying an additional 50 shares during the last quarter. Finally, Canton Hathaway LLC boosted its position in Home Depot by 4.3% in the second quarter. Canton Hathaway LLC now owns 1,202 shares of the home improvement retailer’s stock valued at $250,000 after buying an additional 50 shares during the last quarter. Institutional investors and hedge funds own 69.92% of the company’s stock.

NYSE:HD traded up $4.03 during trading hours on Friday, reaching $235.64. The company had a trading volume of 188,290 shares, compared to its average volume of 3,719,388. Home Depot Inc has a 1-year low of $158.09 and a 1-year high of $235.49. The firm has a market cap of $248.24 billion, a PE ratio of 23.82, a price-to-earnings-growth ratio of 2.22 and a beta of 1.05. The business’s 50 day moving average price is $227.40 and its 200-day moving average price is $209.35.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $3.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.07 by $0.10. The company had revenue of $30.84 billion during the quarter, compared to the consensus estimate of $30.98 billion. Home Depot had a negative return on equity of 1,179.69% and a net margin of 10.18%. Home Depot’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the company posted $3.05 earnings per share. On average, equities analysts anticipate that Home Depot Inc will post 10.12 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th were paid a dividend of $1.36 per share. This represents a $5.44 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend was Wednesday, September 4th. Home Depot’s payout ratio is 55.01%.

A number of equities research analysts recently commented on the company. Robert W. Baird upped their target price on Home Depot from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. Goldman Sachs Group assumed coverage on Home Depot in a research report on Thursday, July 11th. They issued a “buy” rating and a $235.00 target price on the stock. Wells Fargo & Co upped their target price on Home Depot from $235.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, September 25th. Loop Capital upped their target price on Home Depot to $200.00 and gave the company a “hold” rating in a research report on Wednesday, August 21st. Finally, Telsey Advisory Group boosted their price target on Home Depot from $210.00 to $220.00 and gave the company a “market perform” rating in a report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $226.65.

In other news, EVP William G. Lennie sold 9,200 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $220.05, for a total transaction of $2,024,460.00. Following the completion of the transaction, the executive vice president now directly owns 84,123 shares of the company’s stock, valued at approximately $18,511,266.15. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Carol B. Tome sold 145,400 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $219.04, for a total value of $31,848,416.00. Following the transaction, the chief financial officer now directly owns 496,374 shares of the company’s stock, valued at $108,725,760.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 177,508 shares of company stock valued at $39,076,428. Corporate insiders own 0.27% of the company’s stock.

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

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