Modern Wealth Management LLC Boosts Stake in The Home Depot, Inc. $HD

Modern Wealth Management LLC raised its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 2.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,537 shares of the home improvement retailer’s stock after purchasing an additional 409 shares during the period. Modern Wealth Management LLC’s holdings in Home Depot were worth $5,328,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Ransom Advisory Ltd acquired a new position in shares of Home Depot during the first quarter worth $3,851,000. Financial Gravity Asset Management Inc. acquired a new position in shares of Home Depot during the first quarter worth $406,000. Wealth Management Partners LLC increased its position in shares of Home Depot by 0.6% during the first quarter. Wealth Management Partners LLC now owns 6,506 shares of the home improvement retailer’s stock worth $2,384,000 after purchasing an additional 36 shares in the last quarter. Arbor Capital Management Inc. ADV increased its position in shares of Home Depot by 4.8% during the first quarter. Arbor Capital Management Inc. ADV now owns 4,784 shares of the home improvement retailer’s stock worth $1,757,000 after purchasing an additional 221 shares in the last quarter. Finally, Focus Partners Wealth increased its position in shares of Home Depot by 4.1% during the first quarter. Focus Partners Wealth now owns 423,287 shares of the home improvement retailer’s stock worth $155,131,000 after purchasing an additional 16,654 shares in the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Price Performance

Shares of HD opened at $423.37 on Friday. The business’s 50-day moving average is $388.99 and its two-hundred day moving average is $372.26. The company has a market capitalization of $421.42 billion, a P/E ratio of 28.76, a P/E/G ratio of 3.92 and a beta of 1.00. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37.

Home Depot (NYSE:HD) last announced its quarterly 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 company had revenue of $45.28 billion for the quarter, compared to analyst estimates of $45.43 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.Home Depot’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. 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, September 18th. Shareholders of record on Thursday, September 4th will be given a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, September 4th. Home Depot’s dividend payout ratio (DPR) is currently 62.50%.

Insider Activity at Home Depot

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,483 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $413.23, for a total transaction of $2,265,740.09. Following the sale, the executive vice president directly owned 16,057 shares of the company’s stock, valued at approximately $6,635,234.11. This trade represents a 25.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Edward P. Decker sold 32,897 shares of the stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $397.22, for a total value of $13,067,346.34. Following the sale, the chief executive officer directly owned 122,425 shares in the company, valued at $48,629,658.50. This represents a 21.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,532 shares of company stock worth $18,648,987 in the last three months. Company insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

HD has been the topic of a number of recent analyst reports. Robert W. Baird upped their price target on Home Depot from $425.00 to $450.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 20th. Evercore ISI set a $400.00 target price on Home Depot and gave the company an “outperform” rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. cut 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. TD Securities downgraded Home Depot to a “buy” rating in a research report on Monday, June 2nd. Finally, Guggenheim reissued a “buy” rating and issued a $450.00 target price on shares of Home Depot in a research report on Wednesday, May 21st. One 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $432.52.

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.