Watch Point Trust Co Reduces Holdings in Home Depot Inc (NYSE:HD)

Watch Point Trust Co decreased its position in Home Depot Inc (NYSE:HD) by 5.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,398 shares of the home improvement retailer’s stock after selling 400 shares during the period. Watch Point Trust Co’s holdings in Home Depot were worth $1,485,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Krane Funds Advisors LLC purchased a new stake in Home Depot during the second quarter worth about $25,000. Enterprise Trust & Investment Co acquired a new position in shares of Home Depot in the 3rd quarter valued at approximately $27,000. Julex Capital Management LLC acquired a new position in shares of Home Depot in the 3rd quarter valued at approximately $29,000. Evolution Wealth Advisors LLC acquired a new position in shares of Home Depot in the 2nd quarter valued at approximately $31,000. Finally, Proffitt & Goodson Inc. grew its position in shares of Home Depot by 106.2% in the 3rd quarter. Proffitt & Goodson Inc. now owns 134 shares of the home improvement retailer’s stock valued at $31,000 after purchasing an additional 69 shares during the period. 70.02% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:HD traded down $0.10 during trading on Friday, reaching $232.84. The stock had a trading volume of 2,038,410 shares, compared to its average volume of 2,590,316. The business has a fifty day moving average price of $232.23 and a 200-day moving average price of $214.66. The stock has a market cap of $254.29 billion, a P/E ratio of 23.54, a PEG ratio of 2.31 and a beta of 1.04. Home Depot Inc has a fifty-two week low of $158.09 and a fifty-two week high of $238.99.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $3.17 EPS for the quarter, topping the consensus estimate of $3.07 by $0.10. Home Depot had a net margin of 10.18% and a negative return on equity of 1,179.69%. The firm had revenue of $30.84 billion during the quarter, compared to analyst estimates of $30.98 billion. During the same quarter in the prior year, the business posted $3.05 earnings per share. Home Depot’s revenue for the quarter was up 1.2% compared to the same quarter last year. Equities analysts anticipate that Home Depot Inc will post 10.12 earnings per share for the current fiscal year.

In related news, CFO Carol B. Tome sold 145,400 shares of Home Depot stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $219.04, for a total value of $31,848,416.00. Following the completion of the transaction, the chief financial officer now directly owns 496,374 shares of the company’s stock, valued at $108,725,760.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Edward P. Decker sold 22,908 shares of Home Depot stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $227.15, for a total value of $5,203,552.20. Following the completion of the transaction, the executive vice president now directly owns 87,343 shares of the company’s stock, valued at $19,839,962.45. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 177,508 shares of company stock worth $39,076,428. Insiders own 0.27% of the company’s stock.

A number of equities research analysts have recently issued reports on the company. Citigroup upped their price objective on Home Depot from $246.00 to $269.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Wells Fargo & Co increased their target price on Home Depot from $250.00 to $260.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Telsey Advisory Group increased their target price on Home Depot from $210.00 to $220.00 and gave the company a “market perform” rating in a research report on Wednesday, September 25th. Stifel Nicolaus increased their target price on Home Depot to $230.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Finally, Credit Suisse Group increased their target price on Home Depot from $213.00 to $225.00 and gave the company a “neutral” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, twelve have given a hold rating and fifteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $229.77.

Home Depot Company Profile

The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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