PNC Financial Services Group Inc. Lowers Holdings in Home Depot Inc (NYSE:HD)

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PNC Financial Services Group Inc. decreased its position in Home Depot Inc (NYSE:HD) by 0.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,061,025 shares of the home improvement retailer’s stock after selling 20,727 shares during the quarter. Home Depot accounts for approximately 1.4% of PNC Financial Services Group Inc.’s holdings, making the stock its 8th biggest holding. PNC Financial Services Group Inc.’s holdings in Home Depot were worth $1,017,328,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Advisor OS LLC bought a new stake in Home Depot during the 2nd quarter worth about $1,294,000. WFA of San Diego LLC bought a new stake in Home Depot during the 2nd quarter worth about $660,000. AdvisorNet Financial Inc grew its holdings in Home Depot by 2.5% during the 2nd quarter. AdvisorNet Financial Inc now owns 11,740 shares of the home improvement retailer’s stock worth $2,941,000 after acquiring an additional 281 shares during the last quarter. Quadrature Capital Ltd grew its holdings in Home Depot by 71.7% during the 2nd quarter. Quadrature Capital Ltd now owns 36,713 shares of the home improvement retailer’s stock worth $9,194,000 after acquiring an additional 15,327 shares during the last quarter. Finally, Strategic Wealth Management Inc. bought a new stake in Home Depot during the 2nd quarter worth about $509,000. 69.00% of the stock is currently owned by institutional investors and hedge funds.

HD has been the topic of a number of research analyst reports. DA Davidson initiated coverage on shares of Home Depot in a report on Friday, August 14th. They set a “neutral” rating and a $290.00 price objective on the stock. They noted that the move was a valuation call. Truist Financial increased their price objective on shares of Home Depot from $240.00 to $300.00 in a report on Wednesday, August 12th. Wells Fargo & Company increased their price objective on shares of Home Depot from $295.00 to $300.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. They noted that the move was a valuation call. Goldman Sachs Group upped their target price on shares of Home Depot from $265.00 to $301.00 and gave the company a “buy” rating in a research report on Tuesday, August 18th. Finally, Royal Bank of Canada upped their target price on shares of Home Depot from $261.00 to $266.00 in a research report on Wednesday, May 20th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company. Home Depot currently has a consensus rating of “Buy” and an average target price of $286.88.

In other news, EVP Matt Carey sold 50,478 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $276.43, for a total transaction of $13,953,633.54. Following the completion of the transaction, the executive vice president now directly owns 62,735 shares of the company’s stock, valued at approximately $17,341,836.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP William G. Lennie sold 13,199 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $283.22, for a total transaction of $3,738,220.78. Following the transaction, the executive vice president now directly owns 49,736 shares of the company’s stock, valued at $14,086,229.92. The disclosure for this sale can be found here. Insiders have sold a total of 105,624 shares of company stock worth $29,429,883 over the last 90 days. Corporate insiders own 0.26% of the company’s stock.

HD stock traded up $4.93 during mid-day trading on Tuesday, hitting $285.58. 3,055,800 shares of the company were exchanged, compared to its average volume of 5,205,920. The firm has a market cap of $302.11 billion, a P/E ratio of 26.15, a P/E/G ratio of 2.09 and a beta of 1.09. The firm’s 50 day simple moving average is $276.39 and its 200 day simple moving average is $238.98. Home Depot Inc has a 1-year low of $140.63 and a 1-year high of $292.95.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, August 18th. The home improvement retailer reported $4.02 EPS for the quarter, topping the consensus estimate of $3.20 by $0.82. The firm had revenue of $38.05 billion for the quarter, compared to the consensus estimate of $32.13 billion. Home Depot had a net margin of 9.91% and a negative return on equity of 583.91%. The business’s quarterly revenue was up 23.4% on a year-over-year basis. During the same period last year, the company posted $3.17 EPS. On average, equities research analysts forecast that Home Depot Inc will post 11.3 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Thursday, September 3rd will be issued a dividend of $1.50 per share. The ex-dividend date is Wednesday, September 2nd. This represents a $6.00 annualized dividend and a yield of 2.10%. Home Depot’s dividend payout ratio (DPR) is currently 58.54%.

About Home Depot

The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and d├ęcor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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