Grassi Investment Management Purchases 450 Shares of The Home Depot, Inc. (NYSE:HD)

Grassi Investment Management grew its position in shares of The Home Depot, Inc. (NYSE:HD) by 1.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,255 shares of the home improvement retailer’s stock after purchasing an additional 450 shares during the period. Home Depot comprises about 1.2% of Grassi Investment Management’s holdings, making the stock its 22nd largest holding. Grassi Investment Management’s holdings in Home Depot were worth $13,287,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Bay Rivers Group lifted its stake in shares of Home Depot by 1.5% in the 1st quarter. Bay Rivers Group now owns 6,984 shares of the home improvement retailer’s stock valued at $2,560,000 after acquiring an additional 100 shares during the last quarter. Beacon Financial Group increased its holdings in Home Depot by 0.6% during the 1st quarter. Beacon Financial Group now owns 5,162 shares of the home improvement retailer’s stock valued at $1,892,000 after purchasing an additional 31 shares during the period. Warren Street Wealth Advisors LLC increased its holdings in Home Depot by 3.5% during the 1st quarter. Warren Street Wealth Advisors LLC now owns 1,206 shares of the home improvement retailer’s stock valued at $442,000 after purchasing an additional 41 shares during the period. Lifestyle Asset Management Inc. increased its holdings in Home Depot by 10.5% during the 1st quarter. Lifestyle Asset Management Inc. now owns 1,017 shares of the home improvement retailer’s stock valued at $373,000 after purchasing an additional 97 shares during the period. Finally, Clare Market Investments LLC increased its holdings in Home Depot by 41.4% during the 1st quarter. Clare Market Investments LLC now owns 1,715 shares of the home improvement retailer’s stock valued at $629,000 after purchasing an additional 502 shares during the period. Institutional investors own 70.86% of the company’s stock.

Insider Activity

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the transaction, the executive vice president now directly owns 17,367 shares in the company, valued at approximately $6,413,285.76. The trade was a 23.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total value of $954,564.00. Following the transaction, the executive vice president now owns 7,951 shares in the company, valued at $2,919,130.14. This trade represents a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Home Depot Stock Performance

HD stock opened at $372.50 on Thursday. The stock has a market capitalization of $370.61 billion, a PE ratio of 25.31, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a 12-month low of $323.93 and a 12-month high of $439.37. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The stock’s 50 day simple moving average is $361.54 and its 200 day simple moving average is $385.28.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing the consensus estimate of $3.59 by ($0.03). The firm had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company earned $3.63 earnings per share. As a group, research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th will be issued a dividend of $2.30 per share. The ex-dividend date is Thursday, June 5th. This represents a $9.20 annualized dividend and a dividend yield of 2.47%. Home Depot’s payout ratio is 62.42%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on HD shares. Morgan Stanley restated an “overweight” rating and set a $415.00 price target (up previously from $410.00) on shares of Home Depot in a report on Tuesday, May 20th. HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and boosted their price target for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. Guggenheim restated a “buy” rating and set a $450.00 price target on shares of Home Depot in a report on Wednesday, May 21st. Evercore ISI set a $400.00 target price on Home Depot and gave the stock an “outperform” rating in a report on Thursday, May 22nd. Finally, DA Davidson reduced their target price on Home Depot from $470.00 to $450.00 in a report on Tuesday, May 20th. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $426.77.

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.