Wedbush Securities Inc. Has $18.54 Million Stake in The Home Depot, Inc. $HD

Wedbush Securities Inc. cut its position in shares of The Home Depot, Inc. (NYSE:HD) by 2.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,569 shares of the home improvement retailer’s stock after selling 1,020 shares during the quarter. Home Depot comprises about 0.6% of Wedbush Securities Inc.’s holdings, making the stock its 19th largest position. Wedbush Securities Inc.’s holdings in Home Depot were worth $18,540,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of HD. Legend Financial Advisors Inc. acquired a new position in Home Depot during the 2nd quarter valued at about $28,000. Iron Horse Wealth Management LLC raised its stake in shares of 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 purchasing an additional 46 shares during the last quarter. Global X Japan Co. Ltd. bought a new position in shares of Home Depot in the second quarter valued at approximately $40,000. GFG Capital LLC purchased a new position in shares of Home Depot during the second quarter valued at approximately $40,000. Finally, Nexus Investment Management ULC bought a new stake in Home Depot during the second quarter worth $40,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on HD shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Home Depot in a report on Wednesday, October 8th. Wolfe Research assumed coverage on shares of Home Depot in a research report on Thursday, September 18th. They set an “outperform” rating and a $497.00 price target on the stock. Wells Fargo & Company upped their price objective on shares of Home Depot from $420.00 to $450.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. Stifel Nicolaus increased their price objective on shares of Home Depot from $425.00 to $432.00 and gave the company a “buy” rating in a research note on Monday, August 18th. Finally, Morgan Stanley boosted their target price on Home Depot from $415.00 to $430.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $434.82.

Home Depot Stock Up 0.4%

HD opened at $370.71 on Friday. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37. The company’s 50-day moving average price is $397.28 and its two-hundred day moving average price is $381.27. The stock has a market cap of $369.00 billion, a price-to-earnings ratio of 25.18, a PEG ratio of 3.59 and a beta of 1.00. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.69 by ($0.01). The company had revenue of $45.28 billion for the quarter, compared to analysts’ expectations of $45.43 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, equities analysts expect that The Home Depot, Inc. will post 15.13 earnings per share 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 paid a $2.30 dividend. The ex-dividend date was Thursday, September 4th. This represents a $9.20 annualized dividend and a dividend yield of 2.5%. Home Depot’s payout ratio is presently 62.50%.

Insider Activity

In related news, EVP Angie Brown sold 1,000 shares of the business’s 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 sale, the executive vice president directly owned 3,837 shares in the company, valued at approximately $1,550,416.59. The trade was a 20.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Edward P. Decker sold 32,897 shares of the company’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the sale, the chief executive officer directly owned 122,425 shares in the company, valued at approximately $48,629,658.50. This trade represents a 21.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 48,835 shares of company stock worth $19,623,432. 0.10% of the stock is owned by company insiders.

About Home Depot

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.