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Washington Trust Bank Grows Position in The Home Depot, Inc. (NYSE:HD)

Home Depot logo with Retail/Wholesale background

Washington Trust Bank lifted its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 4.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 46,032 shares of the home improvement retailer's stock after buying an additional 1,910 shares during the quarter. Home Depot makes up 1.7% of Washington Trust Bank's investment portfolio, making the stock its 19th largest holding. Washington Trust Bank's holdings in Home Depot were worth $16,870,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Wealth Management Partners LLC increased its holdings in Home Depot by 0.6% during the 1st quarter. Wealth Management Partners LLC now owns 6,506 shares of the home improvement retailer's stock worth $2,384,000 after purchasing an additional 36 shares during the period. Arbor Capital Management Inc. ADV increased its holdings in Home Depot by 4.8% during the 1st quarter. Arbor Capital Management Inc. ADV now owns 4,784 shares of the home improvement retailer's stock worth $1,757,000 after purchasing an additional 221 shares during the period. Disciplined Investors L.L.C. purchased a new stake in Home Depot during the 4th quarter worth about $409,000. ARS Wealth Advisors Group LLC increased its holdings in Home Depot by 0.8% during the 1st quarter. ARS Wealth Advisors Group LLC now owns 31,728 shares of the home improvement retailer's stock worth $11,628,000 after purchasing an additional 239 shares during the period. Finally, JPL Wealth Management LLC purchased a new stake in Home Depot during the 4th quarter worth about $3,193,000. Hedge funds and other institutional investors own 70.86% of the company's stock.

Insider Activity at Home Depot

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total value of $1,996,327.68. Following the completion of the transaction, the executive vice president directly owned 17,367 shares of the company's stock, valued at $6,413,285.76. This trade represents a 23.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total value of $954,564.00. Following the completion of the transaction, the executive vice president directly owned 7,951 shares of the company's stock, valued at $2,919,130.14. The trade was a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.10% of the company's stock.

Analyst Upgrades and Downgrades

HD has been the subject of several analyst reports. TD Securities cut Home Depot to a "buy" rating in a research report on Monday, June 2nd. Stifel Nicolaus raised Home Depot from a "hold" rating to a "buy" rating and upped their price objective for the stock from $405.00 to $425.00 in a research report on Wednesday, May 21st. Gordon Haskett upped their price objective on Home Depot from $350.00 to $360.00 in a research report on Tuesday, May 20th. Guggenheim reaffirmed a "buy" rating and set a $450.00 price objective on shares of Home Depot in a research report on Wednesday, May 21st. Finally, DA Davidson lowered their price objective on Home Depot from $470.00 to $450.00 in a research report on Tuesday, May 20th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $426.77.

Check Out Our Latest Analysis on HD

Home Depot Stock Performance

Shares of HD stock traded up $1.48 during trading hours on Tuesday, reaching $369.12. 668,565 shares of the company's stock were exchanged, compared to its average volume of 3,427,463. The company has a market cap of $367.25 billion, a P/E ratio of 25.04, a price-to-earnings-growth ratio of 3.53 and a beta of 1.00. The company's 50 day moving average is $365.35 and its two-hundred day moving average is $375.98. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28.

Home Depot (NYSE:HD - Get Free Report) last issued its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). The business had revenue of $39.86 billion for the quarter, compared to analysts' expectations of $39.24 billion. Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The business's quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the company posted $3.63 earnings per share. Equities research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were paid a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.49%. The ex-dividend date was Thursday, June 5th. Home Depot's payout ratio is currently 62.42%.

Home Depot Company Profile

(Free Report)

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.

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

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