Washington Trust Bank Sells 1,994 Shares of The Home Depot, Inc. (NYSE:HD)

Washington Trust Bank trimmed its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 4.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 44,122 shares of the home improvement retailer's stock after selling 1,994 shares during the period. Home Depot makes up about 1.6% of Washington Trust Bank's investment portfolio, making the stock its 16th biggest position. Washington Trust Bank's holdings in Home Depot were worth $17,163,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. 1620 Investment Advisors Inc. boosted its stake in Home Depot by 1.8% in the 4th quarter. 1620 Investment Advisors Inc. now owns 2,178 shares of the home improvement retailer's stock valued at $847,000 after buying an additional 38 shares in the last quarter. Paragon Capital Management LLC lifted its holdings in shares of Home Depot by 26.9% during the fourth quarter. Paragon Capital Management LLC now owns 1,143 shares of the home improvement retailer's stock valued at $445,000 after acquiring an additional 242 shares during the period. Lakeshore Financial Planning Inc. boosted its stake in shares of Home Depot by 3.5% in the 4th quarter. Lakeshore Financial Planning Inc. now owns 1,627 shares of the home improvement retailer's stock valued at $633,000 after purchasing an additional 55 shares in the last quarter. Wayfinding Financial LLC bought a new stake in shares of Home Depot in the 4th quarter worth about $904,000. Finally, TD Private Client Wealth LLC increased its position in shares of Home Depot by 2.2% during the 4th quarter. TD Private Client Wealth LLC now owns 18,971 shares of the home improvement retailer's stock worth $7,380,000 after purchasing an additional 408 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

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Home Depot Stock Down 0.8 %

NYSE HD traded down $2.87 during trading hours on Tuesday, hitting $360.90. 2,799,540 shares of the company traded hands, compared to its average volume of 3,217,302. The stock has a market capitalization of $358.50 billion, a price-to-earnings ratio of 24.52, a P/E/G ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. The business's 50-day moving average is $393.46 and its 200-day moving average is $399.16. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD - Get Free Report) last released its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.09. The business had revenue of $39.70 billion during the quarter, compared to analysts' expectations of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm's revenue was up 14.1% on a year-over-year basis. During the same period last year, the business earned $2.82 earnings per share. Sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a $2.30 dividend. This is an increase from Home Depot's previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.55%. The ex-dividend date is Thursday, March 13th. Home Depot's dividend payout ratio (DPR) is 61.66%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Guggenheim restated a "buy" rating and issued a $450.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Royal Bank of Canada reduced their target price on Home Depot from $431.00 to $424.00 and set a "sector perform" rating on the stock in a report on Wednesday, February 26th. Hsbc Global Res raised Home Depot from a "moderate sell" rating to a "hold" rating in a report on Wednesday, February 26th. Telsey Advisory Group reissued an "outperform" rating and issued a $455.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Finally, Robert W. Baird lowered their target price on Home Depot from $440.00 to $430.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $435.85.

About Home Depot

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.