Westbourne Investment Advisors Inc. trimmed its stake in shares of Home Depot Inc (NYSE:HD) by 5.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,228 shares of the home improvement retailer’s stock after selling 908 shares during the quarter. Home Depot makes up 5.3% of Westbourne Investment Advisors Inc.’s holdings, making the stock its 4th biggest holding. Westbourne Investment Advisors Inc.’s holdings in Home Depot were worth $4,316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Orser Capital Management LLC grew its position in Home Depot by 1.4% during the fourth quarter. Orser Capital Management LLC now owns 8,227 shares of the home improvement retailer’s stock worth $1,788,000 after buying an additional 114 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Home Depot by 24.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 219,897 shares of the home improvement retailer’s stock worth $48,021,000 after buying an additional 43,256 shares in the last quarter. Cipher Capital LP purchased a new position in Home Depot during the fourth quarter worth about $491,000. Banco Bilbao Vizcaya Argentaria S.A. purchased a new position in Home Depot during the fourth quarter worth about $3,770,000. Finally, Vigilare Wealth Management purchased a new position in Home Depot during the fourth quarter worth about $1,578,000. Institutional investors own 69.65% of the company’s stock.

A number of equities analysts have recently issued reports on HD shares. Credit Suisse Group upped their price objective on Home Depot from $215.00 to $255.00 and gave the stock an “outperform” rating in a report on Wednesday, May 20th. Piper Sandler upped their price target on Home Depot from $231.00 to $236.00 and gave the company a “neutral” rating in a research report on Friday, May 15th. They noted that the move was a valuation call. UBS Group upped their price target on Home Depot from $265.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, June 10th. SunTrust Banks lowered their price target on Home Depot from $240.00 to $220.00 and set a “hold” rating for the company in a research report on Thursday, April 16th. Finally, Morgan Stanley upped their price target on Home Depot from $245.00 to $260.00 and gave the company an “overweight” rating in a research report on Monday, June 22nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $255.47.

In other news, EVP William G. Lennie sold 17,993 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $236.02, for a total value of $4,246,707.86. Following the transaction, the executive vice president now directly owns 54,405 shares in the company, valued at approximately $12,840,668.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.26% of the company’s stock.

HD traded up $8.17 during trading on Tuesday, hitting $257.79. 4,604,924 shares of the company’s stock traded hands, compared to its average volume of 5,776,877. The company’s 50 day simple moving average is $247.84 and its two-hundred day simple moving average is $225.76. Home Depot Inc has a 12-month low of $140.63 and a 12-month high of $259.29. The stock has a market capitalization of $268.47 billion, a price-to-earnings ratio of 24.81, a PEG ratio of 2.24 and a beta of 1.06.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, May 19th. The home improvement retailer reported $2.08 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.19). Home Depot had a net margin of 9.79% and a negative return on equity of 496.11%. The business had revenue of $28.26 billion for the quarter, compared to analysts’ expectations of $27.59 billion. During the same quarter in the prior year, the business posted $2.27 earnings per share. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Home Depot Inc will post 9.91 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th were paid a dividend of $1.50 per share. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $6.00 annualized dividend and a yield of 2.33%. Home Depot’s dividend payout ratio is 58.54%.

Home Depot Company Profile

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 d├ęcor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

Further Reading: How to use beta for portfolio diversification

Want to see what other hedge funds are holding HD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Home Depot Inc (NYSE:HD).

Institutional Ownership by Quarter for Home Depot (NYSE:HD)

Receive News & Ratings for Home Depot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Home Depot and related companies with MarketBeat.com's FREE daily email newsletter.