Provident Trust Co. Buys 3,091 Shares of The Home Depot, Inc. (NYSE:HD)

Provident Trust Co. grew its stake in shares of The Home Depot, Inc. (NYSE:HD) by 0.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 629,663 shares of the home improvement retailer’s stock after buying an additional 3,091 shares during the period. Home Depot makes up 4.6% of Provident Trust Co.’s portfolio, making the stock its 10th biggest position. Provident Trust Co. owned approximately 0.06% of Home Depot worth $255,139,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of HD. International Assets Investment Management LLC lifted its holdings in Home Depot by 51,250.1% during the third quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock worth $35,575,880,000 after acquiring an additional 8,762,735 shares in the last quarter. Legal & General Group Plc raised its position in shares of Home Depot by 1.2% during the second quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock worth $2,931,328,000 after purchasing an additional 100,139 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Home Depot by 15.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock valued at $2,853,143,000 after purchasing an additional 971,833 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Home Depot by 2.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,774,083 shares of the home improvement retailer’s stock worth $1,980,883,000 after purchasing an additional 138,396 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Home Depot by 7.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,643,176 shares of the home improvement retailer’s stock worth $1,598,316,000 after purchasing an additional 333,312 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on HD. Sanford C. Bernstein initiated coverage on shares of Home Depot in a research note on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 price target on the stock. Evercore ISI cut their price objective on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. Royal Bank of Canada lowered their target price on Home Depot from $377.00 to $363.00 and set a “sector perform” rating for the company in a report on Wednesday, August 14th. Guggenheim upped their price objective on Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Finally, Truist Financial increased their price objective on Home Depot from $455.00 to $459.00 and gave the stock a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $420.04.

Home Depot Stock Performance

HD opened at $405.90 on Friday. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74. The stock has a market cap of $403.18 billion, a price-to-earnings ratio of 27.31, a PEG ratio of 2.69 and a beta of 1.01. The Home Depot, Inc. has a 12-month low of $286.79 and a 12-month high of $421.56. The business has a 50 day moving average of $395.19 and a 200-day moving average of $363.84.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.59 by $0.08. Home Depot had a return on equity of 733.61% and a net margin of 9.71%. The business had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. During the same quarter last year, the firm posted $4.65 EPS. The company’s quarterly revenue was up .6% on a year-over-year basis. On average, equities research analysts expect that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were paid a $2.25 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a yield of 2.22%. Home Depot’s dividend payout ratio (DPR) is currently 60.57%.

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.