Ledyard National Bank Has $13.38 Million Stock Position in The Home Depot, Inc. (NYSE:HD)

Ledyard National Bank boosted its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 4.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,608 shares of the home improvement retailer’s stock after purchasing an additional 1,696 shares during the period. Home Depot accounts for approximately 1.4% of Ledyard National Bank’s holdings, making the stock its 21st largest holding. Ledyard National Bank’s holdings in Home Depot were worth $13,380,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Keener Financial Planning LLC bought a new stake in Home Depot during the 4th quarter worth about $31,000. PFG Private Wealth Management LLC grew its stake in shares of Home Depot by 53.3% during the fourth quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 32 shares during the last quarter. Gilfoyle & Co LLC acquired a new stake in shares of Home Depot in the fourth quarter valued at approximately $35,000. Briaud Financial Planning Inc bought a new position in Home Depot in the 3rd quarter worth approximately $41,000. Finally, Quantbot Technologies LP acquired a new position in Home Depot during the 3rd quarter worth $64,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Up 0.5 %

Shares of Home Depot stock traded up $1.71 during trading hours on Monday, reaching $336.80. 2,602,918 shares of the company’s stock were exchanged, compared to its average volume of 3,343,672. The company has a current ratio of 1.35, a quick ratio of 0.40 and a debt-to-equity ratio of 40.94. The company has a 50 day moving average of $364.25 and a two-hundred day moving average of $341.58. The stock has a market cap of $333.78 billion, a P/E ratio of 22.30, a P/E/G ratio of 2.23 and a beta of 0.98. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $396.87.

Home Depot (NYSE:HD) last issued its quarterly earnings results 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. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The firm had revenue of $34.79 billion during the quarter, compared to analysts’ expectations of $34.64 billion. During the same period in the prior year, the firm posted $3.30 earnings per share. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, sell-side analysts forecast that The Home Depot, Inc. will post 15.37 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.67%. 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. Home Depot’s dividend payout ratio (DPR) is 59.60%.

Insider Transactions at Home Depot

In other Home Depot news, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the sale, the chief executive officer now directly owns 107,731 shares in the company, valued at $39,712,878.53. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Timothy A. Hourigan sold 8,996 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total value of $3,317,185.04. Following the transaction, the executive vice president now owns 75,799 shares in the company, valued at approximately $27,950,123.26. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

HD has been the subject of a number of recent research reports. Zelman & Associates upgraded Home Depot from a “neutral” rating to an “outperform” rating in a research report on Tuesday, April 2nd. Citigroup upped their target price on shares of Home Depot from $333.00 to $415.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Oppenheimer downgraded shares of Home Depot from an “outperform” rating to a “market perform” rating in a research note on Monday, January 22nd. Mizuho began coverage on shares of Home Depot in a research note on Tuesday, March 19th. They issued a “buy” rating and a $415.00 price objective on the stock. Finally, Wells Fargo & Company increased their price target on Home Depot from $385.00 to $400.00 and gave the company an “overweight” rating in a research note on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and an average price target of $375.96.

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.