Invst LLC Decreases Position in The Home Depot, Inc. $HD

Invst LLC lessened its holdings in The Home Depot, Inc. (NYSE:HD) by 26.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 4,925 shares of the home improvement retailer’s stock after selling 1,813 shares during the quarter. Invst LLC’s holdings in Home Depot were worth $1,805,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ransom Advisory Ltd purchased a new position in Home Depot in the 1st quarter valued at approximately $3,851,000. Financial Gravity Asset Management Inc. purchased a new position in Home Depot in the 1st quarter valued at approximately $406,000. Wealth Management Partners LLC boosted its position in Home Depot by 0.6% in the 1st quarter. Wealth Management Partners LLC now owns 6,506 shares of the home improvement retailer’s stock valued at $2,384,000 after buying an additional 36 shares during the period. Arbor Capital Management Inc. ADV raised its holdings in shares of Home Depot by 4.8% in the 1st quarter. Arbor Capital Management Inc. ADV now owns 4,784 shares of the home improvement retailer’s stock valued at $1,757,000 after purchasing an additional 221 shares in the last quarter. Finally, Focus Partners Wealth raised its holdings in shares of Home Depot by 4.1% in the 1st quarter. Focus Partners Wealth now owns 423,287 shares of the home improvement retailer’s stock valued at $155,131,000 after purchasing an additional 16,654 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Activity

In related news, EVP William D. Bastek sold 3,783 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $410.23, for a total transaction of $1,551,900.09. Following the sale, the executive vice president owned 24,235 shares of the company’s stock, valued at approximately $9,941,924.05. The trade was a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Richard V. Mcphail sold 3,369 shares of the business’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $403.66, for a total transaction of $1,359,930.54. Following the sale, the chief financial officer directly owned 45,455 shares in the company, valued at approximately $18,348,365.30. This represents a 6.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,532 shares of company stock valued at $18,648,987 in the last quarter. Insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Royal Bank Of Canada reduced their price objective on shares of Home Depot from $424.00 to $399.00 and set a “sector perform” rating on the stock in a report on Thursday, May 15th. Truist Financial raised their price objective on shares of Home Depot from $417.00 to $433.00 and gave the company a “buy” rating in a report on Wednesday, August 13th. Robert W. Baird raised their price objective on shares of Home Depot from $425.00 to $450.00 and gave the company an “outperform” rating in a report on Wednesday, August 20th. Sanford C. Bernstein restated a “market perform” rating and issued a $398.00 price objective (up from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. Finally, TD Securities lowered shares of Home Depot to a “buy” rating in a report on Monday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and an average price target of $432.52.

Home Depot Trading Up 2.5%

NYSE HD opened at $423.37 on Friday. The firm has a market cap of $421.42 billion, a PE ratio of 28.76, a P/E/G ratio of 3.92 and a beta of 1.00. The firm’s fifty day moving average is $388.99 and its two-hundred day moving average is $372.26. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share for the quarter, missing the consensus estimate of $4.69 by ($0.01). The firm had revenue of $45.28 billion during the quarter, compared to analysts’ expectations of $45.43 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. 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 disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be issued a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $9.20 dividend on an annualized basis and a yield of 2.2%. Home Depot’s payout ratio is currently 62.50%.

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.