Massachusetts Wealth Management Grows Holdings in The Home Depot, Inc. (NYSE:HD)

Massachusetts Wealth Management grew its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 8.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,315 shares of the home improvement retailer’s stock after buying an additional 400 shares during the quarter. Home Depot accounts for about 1.5% of Massachusetts Wealth Management’s investment portfolio, making the stock its 21st largest holding. Massachusetts Wealth Management’s holdings in Home Depot were worth $1,842,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. VisionPoint Advisory Group LLC acquired a new stake in shares of Home Depot during the 2nd quarter valued at approximately $26,000. Fairfield Bush & CO. acquired a new stake in shares of Home Depot during the 1st quarter valued at approximately $27,000. PFG Private Wealth Management LLC increased its position in Home Depot by 53.3% in the fourth quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock worth $32,000 after buying an additional 32 shares during the period. KB Financial Partners LLC acquired a new stake in Home Depot in the first quarter worth $28,000. Finally, Studio Investment Management LLC acquired a new stake in Home Depot in the fourth quarter worth $32,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on HD shares. Telsey Advisory Group increased their target price on Home Depot from $335.00 to $360.00 and gave the stock a “market perform” rating in a research report on Monday, April 1st. Stifel Nicolaus increased their target price on Home Depot from $355.00 to $366.00 and gave the stock a “hold” rating in a research report on Friday, February 16th. Mizuho started coverage on Home Depot in a research report on Tuesday, March 19th. They issued a “buy” rating and a $415.00 target price on the stock. Barclays raised Home Depot from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $325.00 to $372.00 in a research report on Thursday, January 4th. Finally, Evercore ISI increased their target price on Home Depot from $420.00 to $425.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $376.35.

Home Depot Trading Up 1.2 %

NYSE:HD opened at $362.05 on Tuesday. The company has a quick ratio of 0.40, a current ratio of 1.35 and a debt-to-equity ratio of 40.94. The Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $396.87. The firm has a market capitalization of $358.80 billion, a price-to-earnings ratio of 23.98, a price-to-earnings-growth ratio of 2.38 and a beta of 0.98. The stock has a fifty day simple moving average of $370.43 and a 200 day simple moving average of $337.28.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.05. Home Depot had a return on equity of 1,339.65% and a net margin of 9.92%. The business had revenue of $34.79 billion during the quarter, compared to analyst estimates of $34.64 billion. During the same quarter last year, the company posted $3.30 EPS. Home Depot’s revenue for the quarter was down 2.9% on a year-over-year basis. Sell-side analysts forecast that The Home Depot, Inc. will post 15.37 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were paid a $2.25 dividend. This is an increase from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend was Wednesday, March 6th. Home Depot’s dividend payout ratio is currently 59.60%.

Insider Buying and Selling

In related news, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total value of $3,317,185.04. Following the completion of the sale, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at approximately $27,950,123.26. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the sale, the chief executive officer now directly owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total value of $3,317,185.04. Following the completion of the sale, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Home Depot Company 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.