Rockland Trust Co. Sells 3,151 Shares of The Home Depot, Inc. (NYSE:HD)

Rockland Trust Co. lessened its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 8.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,872 shares of the home improvement retailer’s stock after selling 3,151 shares during the quarter. Rockland Trust Co.’s holdings in Home Depot were worth $12,047,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Navigoe LLC bought a new position in shares of Home Depot during the 4th quarter valued at about $29,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Home Depot during the 4th quarter valued at about $32,000. Quarry LP increased its position in shares of Home Depot by 220.0% during 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 last quarter. Sellwood Investment Partners LLC bought a new position in shares of Home Depot during the 4th quarter valued at about $39,000. Finally, NewSquare Capital LLC increased its position in shares of Home Depot by 200.0% during 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 last quarter. Institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on HD shares. TD Securities lowered Home Depot to a “buy” rating in a research report on Monday, June 2nd. Piper Sandler reduced their price objective on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. Mizuho reduced their price objective on Home Depot from $450.00 to $435.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 21st. Evercore ISI set a $400.00 price target on Home Depot and gave the stock an “outperform” rating in a research note on Thursday, May 22nd. Finally, Wells Fargo & Company decreased their price target on Home Depot from $445.00 to $420.00 and set an “overweight” rating on the stock in a research note on Thursday, May 8th. Seven research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and a consensus price target of $426.77.

Insider Activity

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total transaction of $954,564.00. Following the completion of the transaction, the executive vice president now owns 7,951 shares in the company, valued at approximately $2,919,130.14. The trade was a 24.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total value of $1,996,327.68. Following the transaction, the executive vice president now owns 17,367 shares of the company’s stock, valued at $6,413,285.76. The trade was a 23.74% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.

Home Depot Price Performance

Shares of HD stock opened at $362.99 on Friday. The firm has a market cap of $361.15 billion, a P/E ratio of 24.66, a P/E/G ratio of 4.03 and a beta of 1.02. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The business’s 50 day moving average price is $362.33 and its 200-day moving average price is $383.33. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). The firm 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 452.60% and a net margin of 9.45%. The firm’s revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the company posted $3.63 EPS. On average, equities research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th will be paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend is Thursday, June 5th. Home Depot’s payout ratio is presently 62.42%.

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.