Ferguson Wellman Capital Management Inc. Has $89.49 Million Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Ferguson Wellman Capital Management Inc. lessened its position in The Home Depot, Inc. (NYSE:HD) by 0.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 288,087 shares of the home improvement retailer’s stock after selling 1,378 shares during the quarter. Home Depot accounts for 2.1% of Ferguson Wellman Capital Management Inc.’s portfolio, making the stock its 7th largest position. Ferguson Wellman Capital Management Inc.’s holdings in Home Depot were worth $89,491,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. BCK Partners Inc. bought a new stake in Home Depot during the 1st quarter valued at about $2,933,000. Fairfield Bush & CO. bought a new stake in Home Depot during the 1st quarter valued at about $27,000. Ergoteles LLC bought a new stake in Home Depot during the 1st quarter valued at about $1,554,000. Equitable Holdings Inc. lifted its holdings in Home Depot by 7.4% during the 1st quarter. Equitable Holdings Inc. now owns 14,628 shares of the home improvement retailer’s stock valued at $4,379,000 after buying an additional 1,007 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in Home Depot by 3.2% during the 1st quarter. First Trust Advisors LP now owns 791,318 shares of the home improvement retailer’s stock valued at $236,865,000 after buying an additional 24,640 shares in the last quarter. Institutional investors own 68.34% of the company’s stock.

Home Depot Stock Performance

HD opened at $317.26 on Tuesday. The company has a debt-to-equity ratio of 30.53, a current ratio of 1.31 and a quick ratio of 0.35. The firm has a fifty day moving average price of $325.92 and a 200 day moving average price of $305.38. The Home Depot, Inc. has a 1 year low of $265.61 and a 1 year high of $347.25. The stock has a market cap of $317.28 billion, a P/E ratio of 19.82, a P/E/G ratio of 2.22 and a beta of 0.95.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, August 15th. The home improvement retailer reported $4.65 earnings per share for the quarter, topping analysts’ consensus estimates of $4.45 by $0.20. The company had revenue of $42.92 billion during the quarter, compared to analysts’ expectations of $42.19 billion. Home Depot had a net margin of 10.48% and a return on equity of 1,424.89%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the prior year, the business posted $5.05 earnings per share. Equities research analysts anticipate that The Home Depot, Inc. will post 15.24 earnings per share for the current year.

Home Depot announced that its Board of Directors has initiated a share buyback plan on Tuesday, August 15th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the home improvement retailer to buy up to 4.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Thursday, August 31st were given a dividend of $2.09 per share. This represents a $8.36 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend was Wednesday, August 30th. Home Depot’s dividend payout ratio is presently 52.22%.

Insiders Place Their Bets

In other Home Depot news, EVP Teresa Wynn Roseborough sold 6,091 shares of the company’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $324.22, for a total transaction of $1,974,824.02. Following the completion of the transaction, the executive vice president now directly owns 22,749 shares in the company, valued at $7,375,680.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Timothy A. Hourigan sold 12,120 shares of the company’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $325.40, for a total transaction of $3,943,848.00. Following the completion of the sale, the executive vice president now owns 73,049 shares of the company’s stock, valued at $23,770,144.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Teresa Wynn Roseborough sold 6,091 shares of the company’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $324.22, for a total transaction of $1,974,824.02. Following the sale, the executive vice president now directly owns 22,749 shares of the company’s stock, valued at approximately $7,375,680.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,811 shares of company stock worth $6,441,376. Company insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

HD has been the subject of several recent research reports. The Goldman Sachs Group boosted their price target on shares of Home Depot from $330.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, August 15th. Wells Fargo & Company boosted their price target on shares of Home Depot from $345.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, August 16th. Wedbush boosted their price target on shares of Home Depot from $290.00 to $350.00 and gave the company a “neutral” rating in a report on Wednesday, August 16th. Stifel Nicolaus started coverage on shares of Home Depot in a research report on Wednesday, September 6th. They issued a “hold” rating and a $350.00 price objective on the stock. Finally, Morgan Stanley lifted their price objective on shares of Home Depot from $320.00 to $350.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 16th. Thirteen research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $339.62.

Home Depot Profile

The Home Depot, Inc operates as a home improvement retailer. 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.