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

Wesbanco Bank Inc. lessened its position in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 1.9% during the second quarter, Holdings Channel reports. The institutional investor owned 92,641 shares of the home improvement retailer’s stock after selling 1,831 shares during the quarter. Home Depot accounts for 1.1% of Wesbanco Bank Inc.’s holdings, making the stock its 17th largest holding. Wesbanco Bank Inc.’s holdings in Home Depot were worth $25,409,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Harvest Volatility Management LLC bought a new stake in shares of Home Depot during the 4th quarter valued at $1,317,000. Gluskin Sheff & Assoc Inc. raised its stake in shares of Home Depot by 6.2% during the 4th quarter. Gluskin Sheff & Assoc Inc. now owns 42,507 shares of the home improvement retailer’s stock valued at $17,641,000 after purchasing an additional 2,466 shares during the period. Lombard Odier Asset Management Switzerland SA bought a new stake in shares of Home Depot during the 4th quarter valued at $2,735,000. Wilkinson Global Asset Management LLC bought a new stake in shares of Home Depot during the 4th quarter valued at $207,000. Finally, Wetherby Asset Management Inc. raised its stake in shares of Home Depot by 2.1% during the 4th quarter. Wetherby Asset Management Inc. now owns 31,345 shares of the home improvement retailer’s stock valued at $13,008,000 after purchasing an additional 646 shares during the period. Hedge funds and other institutional investors own 68.66% of the company’s stock.

Home Depot Stock Up 5.0 %

Shares of NYSE HD opened at $282.19 on Thursday. The company has a market cap of $288.89 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 1.60 and a beta of 0.99. The firm’s fifty day moving average is $297.47 and its 200 day moving average is $298.16. The Home Depot, Inc. has a 52 week low of $264.51 and a 52 week high of $420.61. The company has a quick ratio of 0.25, a current ratio of 1.18 and a debt-to-equity ratio of 165.70.

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Home Depot (NYSE:HD – Get Rating) last announced its quarterly earnings results on Tuesday, August 16th. The home improvement retailer reported $5.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.95 by $0.10. The company had revenue of $43.79 billion for the quarter, compared to analysts’ expectations of $43.33 billion. Home Depot had a net margin of 10.88% and a negative return on equity of 3,166.43%. Home Depot’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.53 EPS. On average, equities research analysts expect that The Home Depot, Inc. will post 16.64 earnings per share for the current year.

Home Depot announced that its Board of Directors has approved a share buyback plan on Thursday, August 18th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the home improvement retailer to purchase up to 4.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were paid a $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date was Wednesday, August 31st. Home Depot’s payout ratio is 46.71%.

Insider Buying and Selling at Home Depot

In related news, EVP Matt Carey sold 12,650 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $316.26, for a total value of $4,000,689.00. Following the sale, the executive vice president now owns 34,522 shares in the company, valued at $10,917,927.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Home Depot news, EVP Fahim Siddiqui sold 1,000 shares of the business’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $300.59, for a total transaction of $300,590.00. Following the completion of the sale, the executive vice president now directly owns 6,180 shares in the company, valued at approximately $1,857,646.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Matt Carey sold 12,650 shares of the stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $316.26, for a total transaction of $4,000,689.00. Following the completion of the transaction, the executive vice president now owns 34,522 shares in the company, valued at approximately $10,917,927.72. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on HD shares. JPMorgan Chase & Co. decreased their price objective on Home Depot from $335.00 to $311.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 9th. MKM Partners assumed coverage on Home Depot in a research report on Thursday, June 23rd. They set a “neutral” rating and a $285.00 price target for the company. DA Davidson raised their target price on shares of Home Depot to $334.00 in a research note on Monday, August 22nd. Robert W. Baird lifted their target price on shares of Home Depot from $335.00 to $360.00 and gave the company an “outperform” rating in a research report on Tuesday, August 16th. Finally, Raymond James lifted their target price on shares of Home Depot from $340.00 to $350.00 and gave the company an “outperform” rating in a research report on Wednesday, August 17th. Five equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $365.95.

Home Depot Company Profile

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The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell 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, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.