First United Bank & Trust acquires 88 shares of The Home Depot, Inc. (NYSE:HD)

userSeptember 28, 2022

First United Bank & Trust grew its stake in The Home Depot, Inc. (NYSE: HD – Get a rating) by 3.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,022 shares of the home improvement retailer’s stock after buying an additional 88 shares during the quarter. First United Bank & Trust’s holdings in Home Depot were worth $829,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Rinkey Investments bought a new position in shares of Home Depot in the 4th quarter worth about $25,000. GW&K Investment Management LLC bought a new position in shares of Home Depot in the 1st quarter worth about $25,000. Tobam acquired a new position in shares of Home Depot in the 1st quarter worth about $27,000. Fairfield Bush & CO. acquired a new position in shares of Home Depot in the 1st quarter worth about $27,000. Finally, Clear Perspectives Financial Planning LLC raised its stake in shares of Home Depot by 135.0% in the first quarter. Clear Perspectives Financial Planning LLC now owns 94 shares of the home goods retailer’s stock valued at $28,000 after buying an additional 54 shares during the period. Currently, 68.66% of shares are owned by institutional investors.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Matt Carey sold 12,650 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $316.26, for a total transaction amounting to $4,000,689.00. Following the completion of the sale, the executive vice president now owns 34,522 shares in the company, valued at $10,917,927.72. The transaction was disclosed in a filing with the Securities and Exchange Commission, which is available through SEC website. In other EVP news Matt Carey sold 12,650 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $316.26 for a total value of $4,000,689.00. Following the transaction, the executive vice president now directly owns 34,522 shares in the company, valued at $10,917,927.72. The sale was disclosed in a filing with the Securities and Exchange Commission, which is available via this hyperlink. Also, EVP Faheem Siddiqui sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $300.59 for a total value of $300,590.00. Following the completion of the transaction, the executive vice president now owns 6,180 shares in the company, valued at $1,857,646.20. Disclosures for this sale can be found here here. 0.17% of shares are currently owned by corporate insiders.

Wall Street analysts predict growth

A number of research analysts have recently commented on the company. UBS Group boosted their target price on Home Depot from $360.00 to $370.00 and gave the company a “buy” rating in a research note on Wednesday, August 17th. Robert W. Baird boosted their price objective on Home Depot from $335.00 to $360.00 and gave the company an “outperform” rating in a research note on Tuesday, August 16th. DA Davidson upped their target price on Home Depot to $334.00 in a research note on Monday, August 22nd. Guggenheim upped their target price on Home Depot from $350.00 to $355.00 and gave the company a “buy” rating in a research note on Wednesday, August 17th. Finally, Piper Sandler upped their target price on Home Depot to $327.00 in a research note on Monday, August 22nd. Five investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. The company presently has an average rating of “Moderate Buy” and an average target price of $365.95, according to MarketBeat.

Home Depot’s stock performance

Actions HD opened at $268.69 on Wednesday. The business has a fifty day moving average of $297.87 and a 200 day moving average of $298.40. Home Depot, Inc. has a 1 year low of $264.51 and a 1 year high of $420.61. The company has a debt-to-equity ratio of 165.70, a current ratio of 1.18, and a gearing ratio of 0.25. The company has a market cap of $275.06 billion, a P/E ratio of 16.51, a PEG ratio of 1.63 and a beta of 0.99.

Home Depot (NYSE: HD – Get a rating) last published its quarterly earnings results on Tuesday, August 16th. The home improvement retailer reported $5.05 earnings per share (EPS), topping the consensus estimate of $4.95 by $0.10. Home Depot had a negative return on equity of 3,166.43% and a net margin of 10.88%. The company had revenue of $43.79 billion for the quarter, compared to analyst estimates of $43.33 billion. In the same quarter last year, earnings per share amounted to $4.53. Home Depot’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, sell-side analysts expect The Home Depot, Inc. will post 16.62 earnings per share for the current year.

Home Depot declared that its Board of Directors has authorized a stock repurchase plan on Thursday, August 18th that permits the company to repurchase $15.00 billion in outstanding shares. This buyback authorization allows the home goods retailer to purchase up to 4.5% of its stock through open market purchases. Stock buyback plans are usually a sign that a company’s management believes its stock is undervalued.

Home Depot announces dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were given a dividend of $1.90 per share. This represents an annual dividend of $7.60 and a yield of 2.83%. The ex-dividend date of this dividend was Wednesday, August 31st. Home Depot’s dividend payout ratio is currently 46.71%.

Home Depot profile

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Home Depot, Inc. operates as a home improvement retailer. It operates The Home Depot stores, which sell a variety of building materials, home improvement products, lawn and garden products, and decorative products, as well as maintenance, repair and maintenance products. The company also offers installation services for flooring, cabinets and cabinet conversions, countertops, furnaces and central air systems, and windows.