Massachusetts Wealth Management Has $1.95 Million Position in The Home Depot, Inc. (NYSE:HD)

Massachusetts Wealth Management trimmed its holdings in The Home Depot, Inc. (NYSE:HD) by 2.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,325 shares of the home improvement retailer’s stock after selling 140 shares during the quarter. Massachusetts Wealth Management’s holdings in Home Depot were worth $1,952,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in HD. Navigoe LLC acquired a new position in shares of Home Depot in the 4th quarter valued at about $29,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Home Depot in the 4th quarter valued at about $32,000. Quarry LP lifted its stake in shares of Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after purchasing an additional 66 shares during the period. Sellwood Investment Partners LLC acquired a new position in shares of Home Depot in the 4th quarter valued at about $39,000. Finally, NewSquare Capital LLC lifted its stake in shares of Home Depot by 200.0% in the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after purchasing an additional 68 shares during the period. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Price Performance

Home Depot stock opened at $354.10 on Friday. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The business’s 50 day simple moving average is $362.73 and its 200 day simple moving average is $382.50. The company has a market cap of $352.31 billion, a price-to-earnings ratio of 24.06, a PEG ratio of 4.03 and a beta of 1.02.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing the consensus estimate of $3.59 by ($0.03). Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $39.86 billion during the quarter, compared to analysts’ expectations of $39.24 billion. During the same quarter in the previous year, the company posted $3.63 EPS. Home Depot’s revenue for the quarter was up 9.4% on a year-over-year basis. Sell-side analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th will be given a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $9.20 annualized dividend and a dividend yield of 2.60%. Home Depot’s dividend payout ratio is currently 62.42%.

Insiders Place Their Bets

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of the stock in a transaction 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 sale, the executive vice president now owns 17,367 shares in the company, valued at approximately $6,413,285.76. This trade represents a 23.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the completion of the sale, the executive vice president now owns 7,951 shares in the company, valued at $2,919,130.14. This trade represents a 24.64% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

HD has been the subject of a number of research analyst reports. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $398.00 target price (up from $380.00) on shares of Home Depot in a research report on Wednesday, May 21st. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and boosted their target price for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. Mizuho decreased their target price on Home Depot from $450.00 to $435.00 and set an “outperform” rating for the company in a research report on Wednesday, May 21st. Telsey Advisory Group reaffirmed an “outperform” rating on shares of Home Depot in a research report on Monday, June 2nd. Finally, Gordon Haskett boosted their target price on Home Depot from $350.00 to $360.00 in a research report on Tuesday, May 20th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $426.77.

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.