Ledyard National Bank Trims Stock Position in The Home Depot, Inc. (NYSE:HD)

Ledyard National Bank lowered its stake in shares of The Home Depot, Inc. (NYSE:HD) by 1.8% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 36,183 shares of the home improvement retailer’s stock after selling 669 shares during the period. Home Depot comprises about 1.3% of Ledyard National Bank’s portfolio, making the stock its 18th largest holding. Ledyard National Bank’s holdings in Home Depot were worth $14,661,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Fairway Wealth LLC acquired a new stake in shares of Home Depot during the 2nd quarter valued at about $25,000. Kings Path Partners LLC acquired a new stake in Home Depot in the 2nd quarter worth about $33,000. Denver PWM LLC acquired a new position in shares of Home Depot during the 2nd quarter worth approximately $40,000. Livelsberger Financial Advisory purchased a new stake in shares of Home Depot in the third quarter valued at approximately $46,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Home Depot in the second quarter valued at approximately $47,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Down 2.0 %

HD stock opened at $406.52 on Tuesday. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $421.56. The company has a 50 day moving average price of $386.31 and a two-hundred day moving average price of $358.83. The stock has a market capitalization of $403.11 billion, a P/E ratio of 27.26, a PEG ratio of 2.88 and a beta of 1.00. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The company had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. During the same period in the previous year, the company earned $4.65 EPS. The business’s quarterly revenue was up .6% compared to the same quarter last year. As a group, sell-side analysts expect that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were issued a dividend of $2.25 per share. The ex-dividend date was Thursday, August 29th. This represents a $9.00 annualized dividend and a dividend yield of 2.21%. Home Depot’s payout ratio is 60.36%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on HD. Telsey Advisory Group restated a “market perform” rating and issued a $360.00 price target on shares of Home Depot in a research report on Thursday, September 12th. DA Davidson upped their price objective on Home Depot from $395.00 to $430.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Royal Bank of Canada decreased their price objective on Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 14th. Evercore ISI decreased their price target on Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 14th. Finally, Daiwa America upgraded Home Depot to a “hold” rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $410.67.

About Home Depot

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.