Provident Trust Co. Has $212.54 Million Position in The Home Depot, Inc. (NYSE:HD)

Provident Trust Co. raised its position in The Home Depot, Inc. (NYSE:HD) by 0.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 613,308 shares of the home improvement retailer’s stock after buying an additional 340 shares during the quarter. Home Depot accounts for 4.4% of Provident Trust Co.’s holdings, making the stock its 11th biggest holding. Provident Trust Co. owned 0.06% of Home Depot worth $212,542,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HD. Congress Wealth Management LLC DE lifted its position in shares of Home Depot by 3.7% during the 3rd quarter. Congress Wealth Management LLC DE now owns 88,444 shares of the home improvement retailer’s stock valued at $26,725,000 after acquiring an additional 3,162 shares during the period. Hartline Investment Corp lifted its position in shares of Home Depot by 3.0% during the 4th quarter. Hartline Investment Corp now owns 15,574 shares of the home improvement retailer’s stock valued at $5,397,000 after acquiring an additional 460 shares during the period. Wolf Group Capital Advisors lifted its position in shares of Home Depot by 6.1% during the 4th quarter. Wolf Group Capital Advisors now owns 7,513 shares of the home improvement retailer’s stock valued at $2,604,000 after acquiring an additional 430 shares during the period. Alliance Wealth Management Group bought a new stake in shares of Home Depot during the 4th quarter valued at $253,000. Finally, Psagot Value Holdings Ltd. Israel lifted its position in shares of Home Depot by 8.0% during the 3rd quarter. Psagot Value Holdings Ltd. Israel now owns 2,700 shares of the home improvement retailer’s stock valued at $819,000 after acquiring an additional 200 shares during the period. 70.86% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wells Fargo & Company upped their price objective on Home Depot from $385.00 to $400.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th. Piper Sandler upgraded Home Depot from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $311.00 to $400.00 in a research report on Tuesday, January 16th. HSBC restated a “reduce” rating and set a $323.00 price objective on shares of Home Depot in a research report on Wednesday, April 3rd. DA Davidson restated a “neutral” rating and set a $370.00 price objective on shares of Home Depot in a research report on Monday, April 1st. Finally, Evercore ISI decreased their target price on Home Depot from $420.00 to $415.00 and set an “outperform” rating for the company in a research note on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $375.96.

Insiders Place Their Bets

In other Home Depot news, EVP Timothy A. Hourigan sold 8,996 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the transaction, the executive vice president now owns 75,799 shares in the company, valued at approximately $27,950,123.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the sale, the chief executive officer now owns 107,731 shares in the company, valued at approximately $39,712,878.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Timothy A. Hourigan sold 8,996 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total value of $3,317,185.04. Following the completion of the sale, the executive vice president now owns 75,799 shares in the company, valued at approximately $27,950,123.26. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Home Depot Stock Performance

Shares of NYSE HD traded up $3.11 during mid-day trading on Friday, hitting $335.09. The company had a trading volume of 2,465,262 shares, compared to its average volume of 3,779,238. The company has a market capitalization of $332.08 billion, a price-to-earnings ratio of 22.19, a P/E/G ratio of 2.21 and a beta of 0.98. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $396.87. The company has a current ratio of 1.35, a quick ratio of 0.40 and a debt-to-equity ratio of 40.94. The stock’s 50-day moving average price is $364.77 and its 200-day moving average price is $340.68.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.05. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The company had revenue of $34.79 billion during the quarter, compared to analysts’ expectations of $34.64 billion. During the same period in the previous year, the business earned $3.30 earnings per share. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, sell-side analysts forecast that The Home Depot, Inc. will post 15.37 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date was Wednesday, March 6th. This is an increase from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s payout ratio is currently 59.60%.

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.