Provident Trust Co. Sells 7,057 Shares of The Home Depot, Inc. (NYSE:HD)

Provident Trust Co. reduced its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 0.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 906,606 shares of the home improvement retailer's stock after selling 7,057 shares during the quarter. Home Depot makes up about 6.2% of Provident Trust Co.'s portfolio, making the stock its 8th biggest holding. Provident Trust Co. owned 0.09% of Home Depot worth $332,262,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hurlow Wealth Management Group Inc. grew its holdings in Home Depot by 1.3% in the fourth quarter. Hurlow Wealth Management Group Inc. now owns 2,137 shares of the home improvement retailer's stock valued at $831,000 after purchasing an additional 27 shares during the last quarter. Invst LLC boosted its position in shares of Home Depot by 0.4% in the 4th quarter. Invst LLC now owns 6,738 shares of the home improvement retailer's stock worth $2,621,000 after buying an additional 28 shares in the last quarter. Financial Insights Inc. grew its stake in Home Depot by 3.3% in the 1st quarter. Financial Insights Inc. now owns 880 shares of the home improvement retailer's stock valued at $323,000 after acquiring an additional 28 shares during the last quarter. Wayfinding Financial LLC increased its holdings in Home Depot by 1.2% during the 1st quarter. Wayfinding Financial LLC now owns 2,353 shares of the home improvement retailer's stock valued at $862,000 after acquiring an additional 28 shares in the last quarter. Finally, Pure Portfolios Holdings LLC raised its position in Home Depot by 4.7% during the first quarter. Pure Portfolios Holdings LLC now owns 623 shares of the home improvement retailer's stock worth $228,000 after acquiring an additional 28 shares during 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 research firms have issued reports on HD. Guggenheim restated a "buy" rating and issued a $450.00 target price on shares of Home Depot in a report on Wednesday, May 21st. Evercore ISI set a $400.00 price objective on shares of Home Depot and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Mizuho decreased their target price on shares of Home Depot from $450.00 to $435.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 21st. JPMorgan Chase & Co. raised their price objective on Home Depot from $410.00 to $418.00 and gave the stock an "overweight" rating in a report on Wednesday, May 21st. Finally, TD Securities downgraded Home Depot to a "buy" rating in a research report on Monday, June 2nd. Seven analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Home Depot has a consensus rating of "Moderate Buy" and an average price target of $426.77.

Home Depot Stock Performance

Shares of HD traded down $10.92 during mid-day trading on Tuesday, hitting $359.19. The stock had a trading volume of 3,866,081 shares, compared to its average volume of 3,433,913. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95. The company has a market cap of $357.37 billion, a PE ratio of 24.37, a PEG ratio of 3.52 and a beta of 1.00. The company's fifty day simple moving average is $366.32 and its two-hundred day simple moving average is $375.13.

Home Depot (NYSE:HD - Get Free Report) last released its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing the consensus estimate of $3.59 by ($0.03). The business had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.63 EPS. On average, equities analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were issued a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot's dividend payout ratio (DPR) is presently 62.42%.

Insider Buying and Selling

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,406 shares of the business's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the completion of the transaction, the executive vice president owned 17,367 shares in the company, valued at approximately $6,413,285.76. The trade was a 23.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Fahim Siddiqui sold 2,600 shares of the firm's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total value of $954,564.00. Following the transaction, the executive vice president directly owned 7,951 shares in the company, valued at $2,919,130.14. This trade represents a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by corporate insiders.

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.