Penobscot Investment Management Company Inc. Has $14.94 Million Holdings in The Home Depot, Inc. (NYSE:HD)

Penobscot Investment Management Company Inc. increased its position in The Home Depot, Inc. (NYSE:HD) by 6.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 43,115 shares of the home improvement retailer’s stock after buying an additional 2,544 shares during the period. Home Depot comprises approximately 1.8% of Penobscot Investment Management Company Inc.’s holdings, making the stock its 10th largest position. Penobscot Investment Management Company Inc.’s holdings in Home Depot were worth $14,942,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of HD. Marshall Financial Group LLC boosted its holdings in shares of Home Depot by 3.9% during the 3rd quarter. Marshall Financial Group LLC now owns 2,559 shares of the home improvement retailer’s stock valued at $773,000 after purchasing an additional 95 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Home Depot by 16.4% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 3,114 shares of the home improvement retailer’s stock valued at $941,000 after purchasing an additional 439 shares during the last quarter. Alta Wealth Advisors LLC boosted its holdings in shares of Home Depot by 7.0% during the 3rd quarter. Alta Wealth Advisors LLC now owns 1,794 shares of the home improvement retailer’s stock valued at $542,000 after purchasing an additional 118 shares during the last quarter. Connecticut Wealth Management LLC boosted its holdings in shares of Home Depot by 29.8% during the 3rd quarter. Connecticut Wealth Management LLC now owns 13,343 shares of the home improvement retailer’s stock valued at $4,032,000 after purchasing an additional 3,062 shares during the last quarter. Finally, Ballentine Partners LLC boosted its holdings in shares of Home Depot by 9.6% during the 3rd quarter. Ballentine Partners LLC now owns 19,090 shares of the home improvement retailer’s stock valued at $5,768,000 after purchasing an additional 1,675 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Oppenheimer cut shares of Home Depot from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. DA Davidson reissued a “neutral” rating and issued a $370.00 price objective on shares of Home Depot in a research report on Monday, April 1st. StockNews.com raised shares of Home Depot from a “hold” rating to a “buy” rating in a research report on Wednesday, April 24th. Robert W. Baird reissued an “outperform” rating and issued a $370.00 price objective on shares of Home Depot in a research report on Wednesday, February 14th. Finally, Truist Financial reaffirmed a “buy” rating and set a $417.00 target price on shares of Home Depot in a research report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $375.96.

Insiders Place Their Bets

In related news, CEO Edward P. Decker sold 35,987 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the transaction, the chief executive officer now owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the sale, the chief executive officer now owns 107,731 shares in the company, valued at $39,712,878.53. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Timothy A. Hourigan sold 8,996 shares of Home Depot stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the completion of the sale, the executive vice president now owns 75,799 shares in the company, valued at approximately $27,950,123.26. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Home Depot Stock Down 1.0 %

HD traded down $3.24 during trading on Tuesday, hitting $333.56. The stock had a trading volume of 910,035 shares, compared to its average volume of 3,315,072. The stock has a 50 day simple moving average of $364.25 and a two-hundred day simple moving average of $341.58. The company has a market capitalization of $330.56 billion, a PE ratio of 22.20, a PEG ratio of 2.23 and a beta of 0.98. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve month high of $396.87. The company has a debt-to-equity ratio of 40.94, a quick ratio of 0.40 and a current ratio of 1.35.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.05. The business had revenue of $34.79 billion during the quarter, compared to analysts’ expectations of $34.64 billion. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The business’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the company posted $3.30 earnings per share. On average, research analysts predict that The Home Depot, Inc. will post 15.37 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were issued a $2.25 dividend. The ex-dividend date was Wednesday, March 6th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.70%. This is a boost from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s dividend payout ratio (DPR) is currently 59.60%.

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.