The Home Depot, Inc. (NYSE:HD) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its stake in The Home Depot, Inc. (NYSE:HD) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,159,385 shares of the home improvement retailer’s stock after selling 51,179 shares during the quarter. Home Depot makes up 0.8% of PNC Financial Services Group Inc.’s holdings, making the stock its 17th biggest position. PNC Financial Services Group Inc. owned about 0.32% of Home Depot worth $1,228,969,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. K.J. Harrison & Partners Inc grew its position in shares of Home Depot by 65.2% in the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock valued at $3,535,000 after purchasing an additional 3,590 shares during the period. Pensionfund Sabic grew its position in shares of Home Depot by 51.4% in the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock valued at $4,357,000 after purchasing an additional 3,800 shares during the period. Swedbank AB grew its position in shares of Home Depot by 17.1% in the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after purchasing an additional 132,967 shares during the period. Wedmont Private Capital grew its position in shares of Home Depot by 12.5% in the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock valued at $5,291,000 after purchasing an additional 1,506 shares during the period. Finally, Johnson & White Wealth Management LLC acquired a new stake in shares of Home Depot in the fourth quarter valued at about $1,793,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on HD shares. Evercore ISI boosted their price target on shares of Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Piper Sandler lowered their price target on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Robert W. Baird lowered their price target on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. Finally, Bank of America boosted their price target on shares of Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and an average target price of $436.50.

Home Depot Price Performance

Home Depot stock opened at $376.66 on Friday. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. The company’s 50 day simple moving average is $400.21 and its 200-day simple moving average is $399.59. The company has a market capitalization of $374.16 billion, a price-to-earnings ratio of 25.59, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. During the same period in the prior year, the firm earned $2.82 EPS. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, equities research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a dividend of $2.30 per share. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s dividend payout ratio is presently 61.66%.

Home Depot Company 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.