Washington Trust Bank Has $9.72 Million Position in Home Depot Inc (NYSE:HD)

Washington Trust Bank lowered its stake in Home Depot Inc (NYSE:HD) by 0.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,811 shares of the home improvement retailer’s stock after selling 331 shares during the period. Home Depot accounts for 1.5% of Washington Trust Bank’s portfolio, making the stock its 14th largest position. Washington Trust Bank’s holdings in Home Depot were worth $9,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP grew its holdings in Home Depot by 18.8% during the 1st quarter. Wellington Management Group LLP now owns 22,254,517 shares of the home improvement retailer’s stock worth $4,155,141,000 after acquiring an additional 3,515,402 shares during the period. Capital Research Global Investors grew its holdings in Home Depot by 28.6% during the 1st quarter. Capital Research Global Investors now owns 21,071,595 shares of the home improvement retailer’s stock worth $3,934,286,000 after acquiring an additional 4,690,072 shares during the period. Geode Capital Management LLC grew its holdings in Home Depot by 1.1% during the 1st quarter. Geode Capital Management LLC now owns 16,956,982 shares of the home improvement retailer’s stock worth $3,160,862,000 after acquiring an additional 191,403 shares during the period. Bank of New York Mellon Corp grew its holdings in Home Depot by 3.1% during the 1st quarter. Bank of New York Mellon Corp now owns 10,051,038 shares of the home improvement retailer’s stock worth $1,876,628,000 after acquiring an additional 303,357 shares during the period. Finally, Morgan Stanley grew its holdings in Home Depot by 2.4% during the 1st quarter. Morgan Stanley now owns 9,255,927 shares of the home improvement retailer’s stock worth $1,728,173,000 after acquiring an additional 216,078 shares during the period. 69.65% of the stock is owned by institutional investors and hedge funds.

A number of analysts have commented on the stock. Royal Bank of Canada lifted their target price on shares of Home Depot from $261.00 to $266.00 in a report on Wednesday, May 20th. Bank of America boosted their price target on shares of Home Depot from $250.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, June 12th. Nomura boosted their price target on shares of Home Depot from $252.00 to $266.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. Wedbush boosted their price target on shares of Home Depot from $200.00 to $230.00 and gave the company a “neutral” rating in a report on Wednesday, May 20th. Finally, Credit Suisse Group boosted their price target on shares of Home Depot from $215.00 to $255.00 and gave the company an “outperform” rating in a report on Wednesday, May 20th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $256.30.

In other Home Depot news, EVP William G. Lennie sold 17,993 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $236.02, for a total transaction of $4,246,707.86. Following the sale, the executive vice president now directly owns 54,405 shares of the company’s stock, valued at approximately $12,840,668.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.26% of the company’s stock.

Shares of NYSE:HD opened at $265.49 on Friday. The company’s 50-day moving average price is $252.21 and its two-hundred day moving average price is $229.53. Home Depot Inc has a one year low of $140.63 and a one year high of $269.07. The stock has a market capitalization of $285.54 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 2.31 and a beta of 1.06.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, May 19th. The home improvement retailer reported $2.08 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.19). Home Depot had a negative return on equity of 496.11% and a net margin of 9.79%. The business had revenue of $28.26 billion for the quarter, compared to the consensus estimate of $27.59 billion. During the same period last year, the firm earned $2.27 earnings per share. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, research analysts expect that Home Depot Inc will post 10.09 EPS for the current year.

Home Depot Profile

The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and d├ęcor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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

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