Pettee Investors Inc. Grows Position in Home Depot Inc (HD)

Pettee Investors Inc. increased its position in shares of Home Depot Inc (NYSE:HD) by 6.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,387 shares of the home improvement retailer’s stock after purchasing an additional 660 shares during the period. Home Depot makes up about 1.1% of Pettee Investors Inc.’s portfolio, making the stock its 21st biggest holding. Pettee Investors Inc.’s holdings in Home Depot were worth $1,851,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in HD. National Asset Management Inc. lifted its holdings in Home Depot by 21.4% during the 3rd quarter. National Asset Management Inc. now owns 25,815 shares of the home improvement retailer’s stock worth $4,223,000 after purchasing an additional 4,545 shares during the last quarter. Epoch Investment Partners Inc. raised its holdings in Home Depot by 12.5% in the 3rd quarter. Epoch Investment Partners Inc. now owns 2,657,497 shares of the home improvement retailer’s stock valued at $434,660,000 after acquiring an additional 295,829 shares in the last quarter. Convergence Investment Partners LLC raised its holdings in Home Depot by 85.0% in the 3rd quarter. Convergence Investment Partners LLC now owns 33,242 shares of the home improvement retailer’s stock valued at $5,437,000 after acquiring an additional 15,274 shares in the last quarter. Nicholas Investment Partners LP raised its holdings in Home Depot by 17.4% in the 3rd quarter. Nicholas Investment Partners LP now owns 15,883 shares of the home improvement retailer’s stock valued at $2,598,000 after acquiring an additional 2,351 shares in the last quarter. Finally, Nippon Life Global Investors Americas Inc. raised its holdings in Home Depot by 3.2% in the 3rd quarter. Nippon Life Global Investors Americas Inc. now owns 123,519 shares of the home improvement retailer’s stock valued at $20,203,000 after acquiring an additional 3,880 shares in the last quarter. 69.11% of the stock is owned by institutional investors and hedge funds.

In other Home Depot news, EVP Mark Holifield sold 45,549 shares of the company’s stock in a transaction dated Wednesday, May 16th. The stock was sold at an average price of $186.84, for a total value of $8,510,375.16. Following the sale, the executive vice president now owns 51,879 shares in the company, valued at approximately $9,693,072.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stephanie Linnartz purchased 1,000 shares of Home Depot stock in a transaction on Friday, June 1st. The stock was bought at an average price of $187.57 per share, for a total transaction of $187,570.00. The disclosure for this purchase can be found here. Insiders own 0.25% of the company’s stock.



Several brokerages have weighed in on HD. Wells Fargo & Co set a $205.00 price objective on Home Depot and gave the company a “buy” rating in a report on Tuesday, May 15th. Loop Capital set a $187.00 price objective on Home Depot and gave the company a “hold” rating in a report on Tuesday, May 15th. Zacks Investment Research raised Home Depot from a “sell” rating to a “hold” rating in a report on Wednesday, May 16th. Deutsche Bank set a $210.00 price objective on Home Depot and gave the company a “buy” rating in a report on Tuesday, May 15th. Finally, BMO Capital Markets lifted their price objective on Home Depot from $191.00 to $213.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $195.95.

Shares of HD stock opened at $199.21 on Wednesday. The firm has a market cap of $231.50 billion, a P/E ratio of 26.70, a PEG ratio of 1.50 and a beta of 1.13. Home Depot Inc has a twelve month low of $144.25 and a twelve month high of $207.60. The company has a debt-to-equity ratio of 14.37, a quick ratio of 0.37 and a current ratio of 1.17.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, May 15th. The home improvement retailer reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.03. The business had revenue of $24.95 billion for the quarter, compared to analyst estimates of $25.17 billion. Home Depot had a return on equity of 399.15% and a net margin of 8.85%. Home Depot’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.67 EPS. equities research analysts expect that Home Depot Inc will post 9.45 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 14th. Investors of record on Thursday, May 31st were given a dividend of $1.03 per share. The ex-dividend date was Wednesday, May 30th. This represents a $4.12 dividend on an annualized basis and a yield of 2.07%. Home Depot’s dividend payout ratio is currently 55.23%.

Home Depot 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.

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

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