Harbour Investments Inc. Decreases Stake in The Home Depot, Inc. $HD

Harbour Investments Inc. lowered its position in The Home Depot, Inc. (NYSE:HD) by 0.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 19,090 shares of the home improvement retailer’s stock after selling 167 shares during the period. Harbour Investments Inc.’s holdings in Home Depot were worth $6,999,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HD. Legend Financial Advisors Inc. purchased a new stake in shares of Home Depot in the second quarter valued at about $28,000. Abound Financial LLC purchased a new position in Home Depot during the first quarter worth about $31,000. Iron Horse Wealth Management LLC boosted its holdings in Home Depot by 86.8% in the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer’s stock valued at $36,000 after purchasing an additional 46 shares during the last quarter. Global X Japan Co. Ltd. purchased a new stake in shares of Home Depot in the 2nd quarter valued at approximately $40,000. Finally, GFG Capital LLC purchased a new stake in shares of Home Depot in the 2nd quarter valued at approximately $40,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Buying and Selling

In other Home Depot news, EVP Angie Brown sold 1,000 shares of Home Depot stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $404.07, for a total value of $404,070.00. Following the completion of the transaction, the executive vice president directly owned 3,837 shares of the company’s stock, valued at $1,550,416.59. The trade was a 20.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of Home Depot stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $413.23, for a total value of $2,265,740.09. Following the completion of the transaction, the executive vice president directly owned 16,057 shares of the company’s stock, valued at approximately $6,635,234.11. This represents a 25.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,835 shares of company stock worth $19,623,432 over the last 90 days. 0.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on HD. Wells Fargo & Company upped their price objective on Home Depot from $420.00 to $450.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. Robert W. Baird lifted their target price on Home Depot from $425.00 to $450.00 and gave the company an “outperform” rating in a research report on Wednesday, August 20th. JPMorgan Chase & Co. reduced their target price on Home Depot from $460.00 to $452.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 20th. Oppenheimer raised their price objective on Home Depot from $400.00 to $420.00 and gave the stock a “market perform” rating in a research report on Thursday, September 25th. Finally, Truist Financial raised their price objective on Home Depot from $417.00 to $433.00 and gave the stock a “buy” rating in a research report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $435.42.

Home Depot Stock Up 2.2%

Shares of NYSE:HD opened at $387.72 on Wednesday. The business has a 50-day moving average price of $403.56 and a 200 day moving average price of $377.52. The company has a current ratio of 1.15, a quick ratio of 0.34 and a debt-to-equity ratio of 4.31. The company has a market capitalization of $385.94 billion, a price-to-earnings ratio of 26.34, a PEG ratio of 3.60 and a beta of 1.00. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37.

Home Depot (NYSE:HD) last released 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 analyst estimates of $45.43 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Sell-side analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were given a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Thursday, September 4th. 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.