The Home Depot, Inc. (NYSE:HD) Stock Position Trimmed by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 1.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,159,385 shares of the home improvement retailer's stock after selling 51,179 shares during the quarter. Home Depot comprises about 0.8% of PNC Financial Services Group Inc.'s holdings, making the stock its 17th largest position. PNC Financial Services Group Inc. owned 0.32% of Home Depot worth $1,228,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the stock. Synergy Asset Management LLC purchased a new stake in Home Depot during the fourth quarter valued at about $26,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Home Depot in the 4th quarter valued at about $28,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Home Depot during the 4th quarter worth about $32,000. NewSquare Capital LLC increased its position in Home Depot by 200.0% during the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer's stock worth $40,000 after purchasing an additional 68 shares in the last quarter. Finally, Legacy Investment Solutions LLC purchased a new position in Home Depot in the third quarter valued at approximately $41,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Stock Performance

Shares of HD traded down $5.08 during mid-day trading on Friday, hitting $376.66. The stock had a trading volume of 4,572,916 shares, compared to its average volume of 3,351,697. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The company has a market cap of $374.16 billion, a PE ratio of 25.59, a PEG ratio of 4.03 and a beta of 1.09. The company's fifty day simple moving average is $400.21 and its two-hundred day simple moving average is $399.81.

Remove Ads

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping analysts' consensus estimates of $3.04 by $0.09. The firm had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm's revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.82 earnings per share. On average, equities 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 disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date is Thursday, March 13th. This is an increase from Home Depot's previous quarterly dividend of $2.25. Home Depot's dividend payout ratio is currently 61.66%.

Wall Street Analysts Forecast Growth

HD has been the subject of several research reports. KGI Securities upgraded shares of Home Depot to a "strong-buy" rating in a research note on Monday, March 3rd. Stifel Nicolaus upped their price target on shares of Home Depot from $375.00 to $400.00 and gave the stock a "hold" rating in a research report on Monday, November 11th. Bank of America increased their price target on Home Depot from $425.00 to $450.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Hsbc Global Res upgraded Home Depot from a "moderate sell" rating to a "hold" rating in a research note on Wednesday, February 26th. Finally, Wedbush reiterated an "outperform" rating and issued a $440.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $436.50.

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.