KLP Kapitalforvaltning AS Raises Stock Holdings in The Home Depot, Inc. $HD

KLP Kapitalforvaltning AS lifted its holdings in shares of The Home Depot, Inc. (NYSE:HDFree Report) by 3.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 397,042 shares of the home improvement retailer’s stock after acquiring an additional 14,000 shares during the quarter. Home Depot accounts for about 0.6% of KLP Kapitalforvaltning AS’s holdings, making the stock its 21st largest position. KLP Kapitalforvaltning AS’s holdings in Home Depot were worth $145,571,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of HD. Legend Financial Advisors Inc. purchased a new stake in Home Depot in the second quarter worth $28,000. Abound Financial LLC purchased a new stake in Home Depot in the first quarter worth $31,000. Iron Horse Wealth Management LLC increased its position in Home Depot by 86.8% in the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer’s stock worth $36,000 after buying an additional 46 shares during the last quarter. Global X Japan Co. Ltd. purchased a new stake in Home Depot in the second quarter worth $40,000. Finally, Compass Financial Services Inc purchased a new stake in Home Depot in the first quarter worth $41,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on HD. Telsey Advisory Group reissued an “outperform” rating and issued a $455.00 target price on shares of Home Depot in a research report on Tuesday, August 19th. Wolfe Research began coverage on Home Depot in a research report on Thursday, September 18th. They issued an “outperform” rating and a $497.00 target price for the company. Morgan Stanley raised their target price on Home Depot from $415.00 to $430.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. Wells Fargo & Company raised their target price on Home Depot from $420.00 to $450.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $450.00 price target on shares of Home Depot in a report on Tuesday, August 19th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $436.40.

Check Out Our Latest Analysis on HD

Insider Activity at Home Depot

In related news, EVP William D. Bastek sold 2,303 shares of Home Depot stock in a transaction on Friday, September 12th. The stock was sold at an average price of $423.12, for a total transaction of $974,445.36. Following the completion of the sale, the executive vice president owned 24,235 shares of the company’s stock, valued at approximately $10,254,313.20. This trade represents a 8.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Angie Brown sold 1,000 shares of Home Depot stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total value of $404,070.00. Following the sale, the executive vice president directly owned 3,837 shares of the company’s stock, valued at $1,550,416.59. This represents a 20.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,835 shares of company stock valued at $19,623,432 in the last ninety days. 0.10% of the stock is currently owned by corporate insiders.

Home Depot Price Performance

Home Depot stock opened at $389.56 on Tuesday. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. The business has a fifty day moving average price of $402.88 and a 200-day moving average price of $376.78. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.34. The firm has a market capitalization of $387.76 billion, a P/E ratio of 26.46, a PEG ratio of 3.75 and a beta of 1.00.

Home Depot (NYSE:HDGet Free Report) last posted its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 EPS for the quarter, missing analysts’ consensus estimates of $4.69 by ($0.01). Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The company had revenue of $45.28 billion during the quarter, compared to the consensus estimate of $45.43 billion. During the same period in the previous year, the business earned $4.60 earnings per share. Home Depot’s revenue was up 4.9% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, equities research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were paid a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $9.20 annualized dividend and a yield of 2.4%. Home Depot’s dividend payout ratio (DPR) is currently 62.50%.

Home Depot Company Profile

(Free Report)

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.

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

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