Texas Permanent School Fund Corp Cuts Stock Holdings in The Home Depot, Inc. $HD

Texas Permanent School Fund Corp lowered its position in shares of The Home Depot, Inc. (NYSE:HD) by 31.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,429 shares of the home improvement retailer’s stock after selling 35,062 shares during the quarter. Home Depot makes up about 0.3% of Texas Permanent School Fund Corp’s holdings, making the stock its 29th largest holding. Texas Permanent School Fund Corp’s holdings in Home Depot were worth $28,389,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Legend Financial Advisors Inc. purchased a new position in Home Depot in the 2nd quarter valued at $28,000. Sagard Holdings Management Inc. purchased a new stake in shares of Home Depot during the second quarter worth $29,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of Home Depot in the second quarter valued at about $32,000. Legacy Investment Solutions LLC acquired a new stake in shares of Home Depot in the second quarter valued at about $35,000. Finally, Delos Wealth Advisors LLC purchased a new position in shares of Home Depot in the second quarter worth about $39,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Angie Brown sold 1,946 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $357.63, for a total value of $695,947.98. Following the transaction, the executive vice president directly owned 3,941 shares in the company, valued at approximately $1,409,419.83. This represents a 33.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Ann Marie Campbell sold 145 shares of the stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $358.26, for a total transaction of $51,947.70. Following the transaction, the executive vice president directly owned 12,320 shares of the company’s stock, valued at $4,413,763.20. The trade was a 1.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.10% of the stock is currently owned by insiders.

Home Depot Trading Down 0.7%

Shares of Home Depot stock opened at $357.18 on Tuesday. The stock has a 50 day moving average of $367.69 and a 200 day moving average of $379.30. The company has a debt-to-equity ratio of 3.82, a quick ratio of 0.29 and a current ratio of 1.05. The firm has a market capitalization of $355.58 billion, a price-to-earnings ratio of 24.35, a PEG ratio of 13.40 and a beta of 1.06. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $426.75.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 EPS for the quarter, missing the consensus estimate of $3.83 by ($0.09). The business had revenue of $41.35 billion during the quarter, compared to analyst estimates of $41.06 billion. Home Depot had a net margin of 8.77% and a return on equity of 160.74%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period last year, the company earned $3.78 EPS. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. As a group, research analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be given a dividend of $2.30 per share. The ex-dividend date is Thursday, December 4th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.6%. Home Depot’s dividend payout ratio (DPR) is currently 62.71%.

Analyst Ratings Changes

Several brokerages recently issued reports on HD. Guggenheim dropped their price objective on shares of Home Depot from $450.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. JPMorgan Chase & Co. dropped their price target on Home Depot from $444.00 to $423.00 and set an “overweight” rating for the company in a research report on Wednesday, November 19th. Evercore ISI cut their price target on Home Depot from $450.00 to $425.00 and set an “outperform” rating for the company in a report on Wednesday, November 19th. Sanford C. Bernstein reissued a “market perform” rating and set a $362.00 price objective on shares of Home Depot in a research note on Monday, November 24th. Finally, Piper Sandler dropped their target price on Home Depot from $450.00 to $441.00 and set an “overweight” rating for the company in a report on Wednesday, December 10th. Twenty-one research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $401.17.

Home Depot Company 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.