Wesbanco Bank Inc. Reduces Stock Position in The Home Depot, Inc. (NYSE:HD)

Wesbanco Bank Inc. cut its holdings in The Home Depot, Inc. (NYSE:HD) by 17.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,227 shares of the home improvement retailer’s stock after selling 10,273 shares during the period. Wesbanco Bank Inc.’s holdings in Home Depot were worth $18,408,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. POM Investment Strategies LLC grew its holdings in shares of Home Depot by 1.1% in the 4th quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer’s stock worth $824,000 after acquiring an additional 24 shares during the last quarter. Center for Financial Planning Inc. boosted its position in shares of Home Depot by 0.5% in the 4th quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer’s stock valued at $1,810,000 after purchasing an additional 24 shares during the period. Live Oak Private Wealth LLC increased its stake in Home Depot by 0.5% in the 4th quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer’s stock worth $1,912,000 after purchasing an additional 25 shares in the last quarter. Mezzasalma Advisors LLC increased its stake in Home Depot by 4.0% in the 4th quarter. Mezzasalma Advisors LLC now owns 655 shares of the home improvement retailer’s stock worth $255,000 after purchasing an additional 25 shares in the last quarter. Finally, Focused Wealth Management Inc raised its holdings in Home Depot by 2.4% during the 4th quarter. Focused Wealth Management Inc now owns 1,082 shares of the home improvement retailer’s stock worth $421,000 after buying an additional 25 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on HD. HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and lifted their target price for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Wells Fargo & Company lowered their price objective on shares of Home Depot from $445.00 to $420.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. Evercore ISI set a $400.00 target price on shares of Home Depot and gave the company an “outperform” rating in a research note on Thursday, May 22nd. Piper Sandler decreased their target price on Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. Finally, Stifel Nicolaus raised Home Depot from a “hold” rating to a “buy” rating and upped their price target for the company from $405.00 to $425.00 in a research report on Wednesday, May 21st. Seven research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $426.77.

Insider Transactions at Home Depot

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

Home Depot Stock Down 0.5%

Shares of HD stock opened at $367.45 on Monday. The stock’s 50 day simple moving average is $361.63 and its 200 day simple moving average is $384.44. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The company has a market capitalization of $365.59 billion, a price-to-earnings ratio of 24.96, a PEG ratio of 4.03 and a beta of 1.02.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. During the same quarter last year, the company earned $3.63 earnings per share. The firm’s revenue was up 9.4% on a year-over-year basis. As a group, research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th will be given a $2.30 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $9.20 annualized dividend and a dividend yield of 2.50%. Home Depot’s dividend payout ratio is 62.42%.

About Home Depot

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.