BCS Wealth Management Purchases New Shares in The Home Depot, Inc. $HD

BCS Wealth Management acquired a new stake in The Home Depot, Inc. (NYSE:HD) in the third quarter, HoldingsChannel.com reports. The firm acquired 1,508 shares of the home improvement retailer’s stock, valued at approximately $429,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of Nova Scotia acquired a new position in Home Depot during the 2nd quarter worth approximately $118,723,000. AFT Forsyth & Company Inc. acquired a new stake in shares of Home Depot in the 2nd quarter valued at approximately $1,896,000. Field & Main Bank acquired a new stake in shares of Home Depot in the 2nd quarter valued at approximately $6,286,000. State Street Corp lifted its holdings in shares of Home Depot by 1.1% in the 2nd quarter. State Street Corp now owns 47,175,026 shares of the home improvement retailer’s stock valued at $16,637,688,000 after buying an additional 499,168 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in shares of Home Depot by 9.6% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 49,096 shares of the home improvement retailer’s stock valued at $17,315,000 after buying an additional 4,292 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

NYSE HD opened at $353.77 on Tuesday. The business has a 50 day moving average price of $309.90 and a 200 day moving average price of $333.92. The company has a market capitalization of $352.95 billion, a P/E ratio of 24.76, a PEG ratio of 2.53 and a beta of 0.93. The Home Depot, Inc. has a 1-year low of $277.15 and a 1-year high of $397.63. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.08 and a quick ratio of 0.31.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, August 18th. The home improvement retailer reported $4.92 EPS for the quarter, topping analysts’ consensus estimates of $4.73 by $0.19. The company had revenue of $47.86 billion for the quarter, compared to the consensus estimate of $47.24 billion. Home Depot had a return on equity of 106.42% and a net margin of 8.41%. Home Depot’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business earned $4.68 earnings per share. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. Sell-side analysts expect that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 17th. Stockholders of record on Thursday, September 3rd were paid a dividend of $2.33 per share. This represents a $9.32 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Thursday, September 3rd. Home Depot’s payout ratio is 65.22%.

More Home Depot News

Here are the key news stories impacting Home Depot this week:

• Positive Sentiment: JPMorgan raised its price target to $400 from $396 and maintained an “overweight” rating, implying potential upside from the share price cited in the report. JPMorgan rating information
• Positive Sentiment: HD rose in the latest trading session and outperformed the broader market, according to reports. Home Depot rises higher than market
• Neutral Sentiment: Analysts remain cautiously optimistic about Home Depot’s outlook despite the stock’s underperformance relative to the broader market over the past year. Home Depot analyst estimates and ratings
• Negative Sentiment: A housing slowdown, costly debt and a high valuation are cited as challenges, while the stock’s lack of progress over the past five years may weigh on investor confidence. Home Depot’s long-term shareholder returns and challenges

Insider Transactions at Home Depot

In related news, EVP Teresa Roseborough sold 2,455 shares of the business’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $328.77, for a total value of $807,130.35. Following the sale, the executive vice president directly owned 14,061 shares in the company, valued at $4,622,834.97. The trade was a 14.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Kimberly Scardino sold 675 shares of the stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $305.95, for a total transaction of $206,516.25. Following the completion of the sale, the chief accounting officer directly owned 8,189 shares in the company, valued at approximately $2,505,424.55. The trade was a 7.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 9,829 shares of company stock worth $3,339,314. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

HD has been the topic of a number of recent analyst reports. TD Cowen reaffirmed a “buy” rating on shares of Home Depot in a report on Monday, August 10th. Guggenheim reissued a “buy” rating and issued a $425.00 target price on shares of Home Depot in a report on Wednesday, August 19th. KeyCorp restated a “sector weight” rating on shares of Home Depot in a research report on Wednesday, August 19th. Melius Research set a $397.00 price target on shares of Home Depot in a research note on Tuesday, October 6th. Finally, DA Davidson reiterated a “buy” rating and issued a $377.00 price target on shares of Home Depot in a report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and an average price target of $375.45.

About Home Depot

The Home Depot, Inc is a home improvement retailer serving do-it-yourself customers, professional contractors and other businesses. The company sells building materials, tools, hardware, appliances, paint, flooring, and products for home maintenance, repair and renovation, as well as lawn and garden supplies.

In addition to its retail stores and online channels, Home Depot offers services such as product delivery, equipment rental and home improvement installation. The company was founded in 1978 and is headquartered in Atlanta, Georgia.