Washington Trust Bank Sells 1,026 Shares of The Home Depot, Inc. (NYSE:HD)

Washington Trust Bank reduced its stake in The Home Depot, Inc. (NYSE:HD) by 2.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,116 shares of the home improvement retailer’s stock after selling 1,026 shares during the period. Home Depot makes up approximately 1.8% of Washington Trust Bank’s investment portfolio, making the stock its 17th biggest position. Washington Trust Bank’s holdings in Home Depot were worth $18,686,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Fairway Wealth LLC acquired a new position in Home Depot during the second quarter valued at approximately $25,000. Kings Path Partners LLC acquired a new position in Home Depot during the second quarter valued at approximately $33,000. Livelsberger Financial Advisory acquired a new position in shares of Home Depot during the third quarter worth $46,000. Denver PWM LLC acquired a new position in shares of Home Depot during the second quarter worth $40,000. Finally, Abich Financial Wealth Management LLC increased its holdings in shares of Home Depot by 68.0% during the first quarter. Abich Financial Wealth Management LLC now owns 126 shares of the home improvement retailer’s stock worth $48,000 after buying an additional 51 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Trading Up 1.3 %

NYSE:HD traded up $5.01 during trading hours on Thursday, reaching $393.38. The company’s stock had a trading volume of 159,577 shares, compared to its average volume of 3,350,491. The firm has a 50-day simple moving average of $393.80 and a 200-day simple moving average of $363.10. The Home Depot, Inc. has a 1 year low of $286.79 and a 1 year high of $421.56. The firm has a market capitalization of $390.74 billion, a price-to-earnings ratio of 26.24, a PEG ratio of 2.74 and a beta of 1.01. 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 released its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 733.61%. The firm had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. During the same quarter in the previous year, the company earned $4.65 earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. Research analysts expect that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date was Thursday, August 29th. Home Depot’s payout ratio is 60.57%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HD. Guggenheim increased their price objective on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a report on Friday, October 4th. Barclays upped their price target on shares of Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday. Wells Fargo & Company increased their price objective on shares of Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a research report on Wednesday. JPMorgan Chase & Co. increased their price objective on shares of Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Finally, UBS Group raised their price target on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. One investment 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.com, Home Depot currently has a consensus rating of “Moderate Buy” and an average target price of $416.52.

Home Depot Company Profile

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.