Bowen Hanes & Co. Inc. Raises Stake in The Home Depot, Inc. $HD

Bowen Hanes & Co. Inc. boosted its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 0.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 210,124 shares of the home improvement retailer’s stock after purchasing an additional 1,244 shares during the period. Home Depot makes up 2.1% of Bowen Hanes & Co. Inc.’s investment portfolio, making the stock its 13th largest holding. Bowen Hanes & Co. Inc.’s holdings in Home Depot were worth $77,008,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Invst LLC lifted its stake in shares of Home Depot by 0.4% in the fourth quarter. Invst LLC now owns 6,738 shares of the home improvement retailer’s stock valued at $2,621,000 after purchasing an additional 28 shares during the period. Financial Insights Inc. lifted its stake in shares of Home Depot by 3.3% in the first quarter. Financial Insights Inc. now owns 880 shares of the home improvement retailer’s stock valued at $323,000 after purchasing an additional 28 shares during the period. Wayfinding Financial LLC lifted its stake in shares of Home Depot by 1.2% in the first quarter. Wayfinding Financial LLC now owns 2,353 shares of the home improvement retailer’s stock valued at $862,000 after purchasing an additional 28 shares during the period. Pure Portfolios Holdings LLC lifted its stake in shares of Home Depot by 4.7% in the first quarter. Pure Portfolios Holdings LLC now owns 623 shares of the home improvement retailer’s stock valued at $228,000 after purchasing an additional 28 shares during the period. Finally, First Interstate Bank lifted its stake in shares of Home Depot by 0.3% in the first quarter. First Interstate Bank now owns 9,020 shares of the home improvement retailer’s stock valued at $3,306,000 after purchasing an additional 28 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Price Performance

Home Depot stock opened at $394.68 on Tuesday. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37. The firm has a 50 day moving average price of $371.05 and a 200 day moving average price of $371.19. The company has a market cap of $392.68 billion, a price-to-earnings ratio of 26.78, a PEG ratio of 3.80 and a beta of 1.00. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.28 and a current ratio of 1.09.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The company had revenue of $39.86 billion during the quarter, compared to analysts’ expectations of $39.24 billion. During the same quarter in the previous year, the firm posted $3.63 earnings per share. Home Depot’s revenue for the quarter was up 9.4% compared to the same quarter last year. Sell-side analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Thursday, June 5th. Home Depot’s payout ratio is presently 62.42%.

Insider Buying and Selling

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of the business’s stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total value of $1,996,327.68. Following the completion of the sale, the executive vice president directly owned 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 can be accessed through the SEC website. Also, EVP Fahim Siddiqui sold 2,600 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total transaction of $954,564.00. Following the completion of the sale, the executive vice president owned 7,951 shares of the company’s stock, valued at approximately $2,919,130.14. The trade was a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Mizuho reduced their price objective on shares of Home Depot from $450.00 to $435.00 and set an “outperform” rating for the company in a research note on Wednesday, May 21st. Wells Fargo & Company set a $420.00 target price on shares of Home Depot and gave the company an “overweight” rating in a report on Monday, June 30th. Robert W. Baird dropped their target price on shares of Home Depot from $430.00 to $425.00 and set an “outperform” rating for the company in a report on Wednesday, May 21st. Royal Bank Of Canada dropped their target price on shares of Home Depot from $424.00 to $399.00 and set a “sector perform” rating for the company in a report on Thursday, May 15th. Finally, Evercore ISI set a $400.00 target price on shares of Home Depot and gave the company an “outperform” rating in a report on Thursday, May 22nd. Six equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $427.76.

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.