Eastern Bank Sells 5,509 Shares of The Home Depot, Inc. (NYSE:HD)

Eastern Bank decreased its position in shares of The Home Depot, Inc. (NYSE:HD) by 4.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 106,613 shares of the home improvement retailer’s stock after selling 5,509 shares during the quarter. Eastern Bank’s holdings in Home Depot were worth $41,471,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in HD. International Assets Investment Management LLC boosted its position in Home Depot by 51,250.1% during the third quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock valued at $35,575,880,000 after purchasing an additional 8,762,735 shares in the last quarter. Wulff Hansen & CO. boosted its position in Home Depot by 33,540.9% during the second quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock valued at $509,081,000 after purchasing an additional 1,474,459 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Home Depot in the third quarter worth about $336,231,000. FMR LLC boosted its holdings in Home Depot by 10.1% in the third quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock worth $3,516,827,000 after acquiring an additional 795,438 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its holdings in Home Depot by 295.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 693,318 shares of the home improvement retailer’s stock worth $280,932,000 after acquiring an additional 518,054 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on HD. Truist Financial raised their price target on Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Bank of America raised their price target on Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Melius Research began coverage on Home Depot in a report on Monday, September 23rd. They issued a “buy” rating and a $420.00 price target for the company. Telsey Advisory Group raised Home Depot from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $360.00 to $455.00 in a report on Friday, November 8th. Finally, Gordon Haskett upgraded Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective for the company in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Stock Performance

Shares of NYSE:HD opened at $389.65 on Tuesday. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The business’s 50 day moving average price is $406.03 and its 200-day moving average price is $386.31. The firm has a market capitalization of $387.06 billion, a PE ratio of 26.47, a P/E/G ratio of 2.90 and a beta of 1.05. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. The firm had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business’s revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the company posted $3.81 earnings per share. As a group, equities research analysts expect that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot’s dividend payout ratio is presently 61.14%.

Insider Transactions at Home Depot

In other Home Depot news, EVP Timothy A. Hourigan sold 16,004 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the transaction, the executive vice president now owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. The trade was a 17.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Ann Marie Campbell sold 100 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total value of $40,258.00. Following the transaction, the executive vice president now directly owns 12,465 shares in the company, valued at $5,018,159.70. This trade represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,188 shares of company stock valued at $15,624,585 over the last ninety days. Insiders own 0.10% of the company’s stock.

Home Depot Profile

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.