Turtle Creek Asset Management Inc. increased its stake in shares of HD Supply Holdings Inc (NASDAQ:HDS) by 23.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,350 shares of the industrial products company’s stock after buying an additional 7,450 shares during the quarter. HD Supply accounts for 0.1% of Turtle Creek Asset Management Inc.’s investment portfolio, making the stock its 17th largest holding. Turtle Creek Asset Management Inc.’s holdings in HD Supply were worth $1,419,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently made changes to their positions in HDS. Bank of Montreal Can boosted its position in HD Supply by 865.7% in the second quarter. Bank of Montreal Can now owns 15,046 shares of the industrial products company’s stock worth $461,000 after purchasing an additional 13,488 shares during the last quarter. Creative Planning boosted its position in HD Supply by 15.2% in the second quarter. Creative Planning now owns 3,800 shares of the industrial products company’s stock worth $116,000 after purchasing an additional 500 shares during the last quarter. Aperio Group LLC boosted its position in HD Supply by 8.0% in the second quarter. Aperio Group LLC now owns 35,206 shares of the industrial products company’s stock worth $1,078,000 after purchasing an additional 2,613 shares during the last quarter. Shell Asset Management Co. boosted its position in HD Supply by 97.5% in the second quarter. Shell Asset Management Co. now owns 17,274 shares of the industrial products company’s stock worth $529,000 after purchasing an additional 8,529 shares during the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD purchased a new position in HD Supply in the second quarter worth $425,000.
Several research analysts have weighed in on HDS shares. Zacks Investment Research raised HD Supply from a “strong sell” rating to a “buy” rating and set a $36.00 price objective on the stock in a research report on Tuesday, August 8th. BidaskClub raised HD Supply from a “hold” rating to a “buy” rating in a research report on Thursday, September 28th. ValuEngine raised HD Supply from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $37.00 price target (up previously from $36.00) on shares of HD Supply in a research report on Friday, September 1st. Thirteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $38.15.
HD Supply (NASDAQ:HDS) last issued its quarterly earnings data on Monday, December 4th. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.15. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.34 billion. HD Supply had a return on equity of 49.76% and a net margin of 9.31%. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.83 EPS. analysts expect that HD Supply Holdings Inc will post 2.21 earnings per share for the current fiscal year.
HD Supply announced that its Board of Directors has initiated a share repurchase program on Tuesday, August 29th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
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HD Supply Profile
HD Supply Holdings, Inc is an industrial distributor in North America. The Company’s segments include Facilities Maintenance, Construction & Industrial-White Cap, and Corporate. As of January 29, 2017, the Company operated through approximately 500 locations across 48 states in the United States and six Canadian provinces.
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