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

PNC Financial Services Group Inc. lessened its position in shares of The Home Depot, Inc. (NYSE:HD) by 1.6% in the 4th quarter, HoldingsChannel reports. The fund owned 3,159,385 shares of the home improvement retailer’s stock after selling 51,179 shares during the period. Home Depot accounts for about 0.8% of PNC Financial Services Group Inc.’s portfolio, making the stock its 17th biggest holding. PNC Financial Services Group Inc.’s holdings in Home Depot were worth $1,228,969,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HD. SYM FINANCIAL Corp boosted its holdings in shares of Home Depot by 17.8% in the 3rd quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock valued at $777,000 after buying an additional 289 shares in the last quarter. Wealth Group Ltd. acquired a new position in shares of Home Depot in the 3rd quarter valued at $217,000. Swedbank AB boosted its holdings in shares of Home Depot by 17.1% in the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after buying an additional 132,967 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Home Depot by 10.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer’s stock valued at $596,140,000 after buying an additional 141,915 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS boosted its holdings in shares of Home Depot by 1.1% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 22,494 shares of the home improvement retailer’s stock valued at $9,115,000 after buying an additional 250 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

HD has been the subject of several research analyst reports. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and upped their target price for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. Evercore ISI raised their price objective 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. Wedbush reaffirmed an “outperform” rating and issued a $440.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Truist Financial lowered their price target on Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Finally, Robert W. Baird reduced their price objective on Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Stock Performance

Shares of HD stock opened at $376.66 on Friday. The stock has a fifty day moving average price of $400.21 and a 200 day moving average price of $399.59. The stock has a market cap of $374.16 billion, a PE ratio of 25.59, a P/E/G ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. 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 issued its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.09. The firm had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. Home Depot’s revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.82 earnings per share. Sell-side analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

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

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.