Massachusetts Wealth Management Has $2.13 Million Holdings in The Home Depot, Inc. (NYSE:HD)

Massachusetts Wealth Management increased its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 4.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,540 shares of the home improvement retailer’s stock after buying an additional 225 shares during the quarter. Home Depot accounts for approximately 1.5% of Massachusetts Wealth Management’s holdings, making the stock its 21st largest holding. Massachusetts Wealth Management’s holdings in Home Depot were worth $2,125,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in HD. Bare Financial Services Inc bought a new position in Home Depot during the fourth quarter worth about $26,000. Frank Rimerman Advisors LLC bought a new stake in shares of Home Depot during the fourth quarter worth approximately $27,000. Keener Financial Planning LLC bought a new stake in shares of Home Depot during the fourth quarter worth approximately $31,000. PFG Private Wealth Management LLC boosted its holdings 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 worth $32,000 after acquiring an additional 32 shares during the period. Finally, Gilfoyle & Co LLC bought a new stake in shares of Home Depot during the fourth quarter worth approximately $35,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Insider Buying and Selling

In other news, EVP Matt Carey sold 56,008 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the completion of the sale, the executive vice president now owns 33,325 shares in the company, valued at $11,503,123.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on HD shares. Mizuho started coverage on shares of Home Depot in a research report on Tuesday, March 19th. They issued a “buy” rating and a $415.00 price target for the company. TD Cowen dropped their price target on shares of Home Depot from $440.00 to $420.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. UBS Group dropped their price target on shares of Home Depot from $411.00 to $400.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Wells Fargo & Company lowered their price objective on shares of Home Depot from $425.00 to $400.00 and set an “overweight” rating for the company in a research report on Thursday, May 9th. Finally, Wedbush restated an “outperform” rating and set a $410.00 price objective on shares of Home Depot in a research report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $378.42.

Home Depot Trading Down 0.4 %

HD stock traded down $1.33 during mid-day trading on Thursday, reaching $333.64. The company’s stock had a trading volume of 1,732,991 shares, compared to its average volume of 3,440,205. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $396.87. The company has a current ratio of 1.34, a quick ratio of 0.42 and a debt-to-equity ratio of 23.11. The business’s 50 day moving average price is $338.43 and its 200 day moving average price is $352.56. The company has a market cap of $330.84 billion, a price-to-earnings ratio of 22.37, a price-to-earnings-growth ratio of 2.31 and a beta of 0.98.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share for the quarter, beating the consensus estimate of $3.61 by $0.02. The company had revenue of $36.42 billion during the quarter, compared to analyst estimates of $36.65 billion. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. Home Depot’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.82 EPS. On average, equities research analysts predict that The Home Depot, Inc. will post 15.28 EPS for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date was Thursday, May 30th. Home Depot’s payout ratio is 60.36%.

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.