Todays Report: The Segment Wealth Management LLC reduces its investment in The Home Depot Inc. (HD)

The Segment Wealth Management LLC reduces its investment in The Home Depot Inc. (HD)

Segment Wealth Management LLC decreased its stake in The Home Depot Inc. (NYSE:HD) by 5.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,483 shares of the home improvement retailer’s stock after selling 1,601 shares during the period. The Home Depot comprises approximately 1.3% of Segment Wealth Management LLC’s portfolio, making the stock its 22nd largest position. Segment Wealth Management LLC’s holdings in The Home Depot were worth $3,254,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. River Wealth Advisors LLC boosted its stake in The Home Depot by 18.9% in the first quarter. River Wealth Advisors LLC now owns 5,061 shares of the home improvement retailer’s stock valued at $675,000 after buying an additional 803 shares during the last quarter. Telemus Capital LLC boosted its stake in The Home Depot by 7.9% in the first quarter. Telemus Capital LLC now owns 38,515 shares of the home improvement retailer’s stock valued at $5,139,000 after buying an additional 2,812 shares during the last quarter. Arvest Bank Trust Division purchased a new stake in The Home Depot during the first quarter valued at approximately $281,000. Sanders Morris Harris Inc. purchased a new stake in The Home Depot during the first quarter valued at approximately $3,524,000. Finally, Investment Centers of America Inc. boosted its stake in The Home Depot by 29.5% in the first quarter. Investment Centers of America Inc. now owns 21,236 shares of the home improvement retailer’s stock valued at $2,829,000 after buying an additional 4,842 shares during the last quarter. Hedge funds and other institutional investors own 71.86% of the company’s stock.

The Home Depot Inc. (NYSE:HD) traded up 0.43% on Wednesday, hitting $126.39. 288,215 shares of the stock traded hands. The stock has a 50-day moving average price of $129.84 and a 200 day moving average price of $132.51. The stock has a market cap of $156.16 billion, a P/E ratio of 21.39 and a beta of 0.97. The Home Depot Inc. has a 12-month low of $109.62 and a 12-month high of $139.00.

The Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, August 16th. The home improvement retailer reported $1.97 earnings per share for the quarter, meeting the consensus estimate of $1.97. The firm earned $26.47 billion during the quarter, compared to analysts’ expectations of $26.47 billion. The Home Depot had a net margin of 8.08% and a return on equity of 110.52%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.71 EPS. On average, equities analysts expect that The Home Depot Inc. will post $6.33 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were given a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend was Tuesday, August 30th. The Home Depot’s payout ratio is presently 46.54%.

Several analysts have commented on HD shares. Jefferies Group reaffirmed a “buy” rating and issued a $156.00 target price on shares of The Home Depot in a research note on Wednesday, June 15th. Deutsche Bank AG reissued a “buy” rating and set a $143.00 price objective on shares of The Home Depot in a research note on Friday, June 17th. Nomura raised shares of The Home Depot from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $140.00 to $155.00 in a research note on Thursday, June 23rd. Vetr cut shares of The Home Depot from a “strong-buy” rating to a “buy” rating and set a $139.51 price objective for the company. in a research note on Monday, July 4th. Finally, Zacks Investment Research cut shares of The Home Depot from a “buy” rating to a “sell” rating in a research note on Tuesday, July 19th. Seven research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $146.86.

In other news, CFO Carol B. Tome sold 97,610 shares of The Home Depot stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $135.35, for a total transaction of $13,211,513.50. Following the completion of the sale, the chief financial officer now owns 644,831 shares in the company, valued at approximately $87,277,875.85. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Timothy M. Crow sold 49,392 shares of The Home Depot stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $135.06, for a total transaction of $6,670,883.52. Following the sale, the executive vice president now owns 224,905 shares of the company’s stock, valued at approximately $30,375,669.30. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

About The Home Depot

The Home Depot, Inc (The Home Depot) is a home improvement retailer. The Company sells an assortment of building materials, home improvement products, and lawn and garden products, and provides various services. The Home Depot stores serve three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.

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