PNC Financial Services Group Inc. Has $1.07 Billion Stock Holdings in The Home Depot, Inc. (NYSE:HD)

PNC Financial Services Group Inc. lessened its position in The Home Depot, Inc. (NYSE:HD) by 2.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,457,515 shares of the home improvement retailer’s stock after selling 71,845 shares during the quarter. Home Depot comprises about 0.9% of PNC Financial Services Group Inc.’s investment portfolio, making the stock its 13th biggest position. PNC Financial Services Group Inc. owned about 0.34% of Home Depot worth $1,074,043,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Blue Fin Capital Inc. grew its stake in shares of Home Depot by 0.3% during the second quarter. Blue Fin Capital Inc. now owns 8,966 shares of the home improvement retailer’s stock worth $2,785,000 after purchasing an additional 31 shares during the period. Washington Trust Advisors Inc. boosted its holdings in Home Depot by 0.4% during the second quarter. Washington Trust Advisors Inc. now owns 7,151 shares of the home improvement retailer’s stock worth $2,221,000 after buying an additional 32 shares during the last quarter. Key Financial Inc grew its position in shares of Home Depot by 0.6% during the 2nd quarter. Key Financial Inc now owns 5,198 shares of the home improvement retailer’s stock worth $1,615,000 after buying an additional 32 shares during the period. Blume Capital Management Inc. increased its stake in shares of Home Depot by 7.7% in the 2nd quarter. Blume Capital Management Inc. now owns 445 shares of the home improvement retailer’s stock valued at $138,000 after acquiring an additional 32 shares during the last quarter. Finally, JB Capital LLC raised its position in shares of Home Depot by 0.5% in the 2nd quarter. JB Capital LLC now owns 6,527 shares of the home improvement retailer’s stock valued at $2,027,000 after acquiring an additional 33 shares during the period. Institutional investors and hedge funds own 68.34% of the company’s stock.

Home Depot Stock Performance

HD stock traded down $5.10 during mid-day trading on Tuesday, hitting $303.09. 628,274 shares of the company were exchanged, compared to its average volume of 3,614,420. The Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $347.25. The business has a 50 day simple moving average of $298.22 and a 200-day simple moving average of $306.89. The company has a current ratio of 1.30, a quick ratio of 0.35 and a debt-to-equity ratio of 28.37. The stock has a market capitalization of $303.11 billion, a PE ratio of 19.78, a price-to-earnings-growth ratio of 2.30 and a beta of 0.93.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, November 14th. The home improvement retailer reported $3.81 EPS for the quarter, beating the consensus estimate of $3.75 by $0.06. Home Depot had a net margin of 10.22% and a return on equity of 1,339.65%. The business had revenue of $37.71 billion for the quarter, compared to the consensus estimate of $37.59 billion. During the same period in the prior year, the company posted $4.24 earnings per share. Home Depot’s revenue was down 3.0% compared to the same quarter last year. On average, equities analysts forecast that The Home Depot, Inc. will post 15.05 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 30th will be issued a dividend of $2.09 per share. This represents a $8.36 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Wednesday, November 29th. Home Depot’s dividend payout ratio (DPR) is currently 53.66%.

Home Depot announced that its Board of Directors has authorized a share repurchase program on Tuesday, August 15th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the home improvement retailer to reacquire up to 4.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have commented on HD shares. Guggenheim lowered their target price on shares of Home Depot from $360.00 to $340.00 and set a “buy” rating for the company in a research note on Wednesday, November 15th. Barclays lifted their target price on Home Depot from $310.00 to $333.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 15th. Royal Bank of Canada lowered their price target on Home Depot from $303.00 to $299.00 and set a “sector perform” rating for the company in a report on Wednesday, November 15th. Oppenheimer reiterated an “outperform” rating and issued a $360.00 price target on shares of Home Depot in a report on Wednesday, November 15th. Finally, TheStreet raised shares of Home Depot from a “c+” rating to an “a-” rating in a research report on Tuesday, August 15th. Twelve analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and an average target price of $339.57.

Insider Activity at Home Depot

In other news, CAO Kimberly R. Scardino sold 1,375 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $306.51, for a total transaction of $421,451.25. Following the completion of the sale, the chief accounting officer now owns 6,744 shares of the company’s stock, valued at approximately $2,067,103.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CAO Kimberly R. Scardino sold 1,600 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $326.69, for a total value of $522,704.00. Following the completion of the transaction, the chief accounting officer now owns 8,281 shares of the company’s stock, valued at $2,705,319.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Kimberly R. Scardino sold 1,375 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $306.51, for a total transaction of $421,451.25. Following the completion of the sale, the chief accounting officer now owns 6,744 shares in the company, valued at $2,067,103.44. The disclosure for this sale can be found here. Insiders sold a total of 15,095 shares of company stock valued at $4,888,003 over the last quarter. 0.19% of the stock is owned by corporate insiders.

About Home Depot

The Home Depot, Inc operates as a home improvement retailer. 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.