Berkshire Bank Reduces Position in The Home Depot, Inc. (NYSE:HD)

Berkshire Bank cut its position in shares of The Home Depot, Inc. (NYSE:HDFree Report) by 1.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,200 shares of the home improvement retailer’s stock after selling 197 shares during the period. Home Depot makes up 1.8% of Berkshire Bank’s portfolio, making the stock its 11th largest holding. Berkshire Bank’s holdings in Home Depot were worth $6,654,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in HD. BCK Partners Inc. purchased a new stake in Home Depot in the 1st quarter valued at about $2,933,000. Fairfield Bush & CO. purchased a new stake in Home Depot in the 1st quarter valued at about $27,000. Ergoteles LLC bought a new stake in shares of Home Depot in the 1st quarter valued at about $1,554,000. Equitable Holdings Inc. raised its holdings in shares of Home Depot by 7.4% in the 1st quarter. Equitable Holdings Inc. now owns 14,628 shares of the home improvement retailer’s stock valued at $4,379,000 after purchasing an additional 1,007 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Home Depot by 3.2% in the 1st quarter. First Trust Advisors LP now owns 791,318 shares of the home improvement retailer’s stock valued at $236,865,000 after purchasing an additional 24,640 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Down 1.4 %

HD stock opened at $363.00 on Wednesday. The firm’s fifty day simple moving average is $369.63 and its 200-day simple moving average is $335.67. The company has a market capitalization of $359.74 billion, a P/E ratio of 24.04, a price-to-earnings-growth ratio of 2.43 and a beta of 0.98. The company has a debt-to-equity ratio of 40.94, a current ratio of 1.35 and a quick ratio of 0.40. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $396.87.

Home Depot (NYSE:HDGet Free Report) last released its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, beating the consensus estimate of $2.77 by $0.05. The business had revenue of $34.79 billion for the quarter, compared to the consensus estimate of $34.64 billion. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned $3.30 EPS. As a group, equities research analysts forecast that The Home Depot, Inc. will post 15.38 earnings per share for the current year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were issued a dividend of $2.25 per share. The ex-dividend date of this dividend was Wednesday, March 6th. This is an increase from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 dividend on an annualized basis and a yield of 2.48%. Home Depot’s dividend payout ratio is 59.60%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HD. Guggenheim boosted their price target on shares of Home Depot from $370.00 to $390.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Truist Financial boosted their price target on shares of Home Depot from $386.00 to $417.00 and gave the company a “buy” rating in a report on Monday. Barclays upgraded shares of Home Depot from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $325.00 to $372.00 in a report on Thursday, January 4th. Zelman & Associates upgraded shares of Home Depot from a “neutral” rating to an “outperform” rating in a report on Tuesday. Finally, Oppenheimer lowered shares of Home Depot from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and an average target price of $376.35.

Read Our Latest Analysis on HD

Insider Buying and Selling

In related news, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the sale, the chief executive officer now directly owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the transaction, the chief executive officer now directly owns 107,731 shares in the company, valued at $39,712,878.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Timothy A. Hourigan sold 8,996 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the transaction, the executive vice president now owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.

Home Depot 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 d├ęcor 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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