The Home Depot, Inc. $HD Holdings Raised by Granite Bay Wealth Management LLC

Granite Bay Wealth Management LLC grew its position in The Home Depot, Inc. (NYSE:HD) by 7.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 16,685 shares of the home improvement retailer’s stock after acquiring an additional 1,119 shares during the quarter. Home Depot makes up about 2.0% of Granite Bay Wealth Management LLC’s investment portfolio, making the stock its 20th largest holding. Granite Bay Wealth Management LLC’s holdings in Home Depot were worth $6,117,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Abound Financial LLC acquired a new stake in Home Depot in the 1st quarter valued at approximately $31,000. Iron Horse Wealth Management LLC increased its stake in shares of 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 buying an additional 46 shares during the period. Compass Financial Services Inc acquired a new stake in shares of Home Depot during the first quarter worth $41,000. Livelsberger Financial Advisory acquired a new stake in shares of Home Depot during the second quarter worth $41,000. Finally, Quest 10 Wealth Builders Inc. grew its stake in Home Depot by 35.7% in the first quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer’s stock valued at $42,000 after acquiring an additional 30 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on HD shares. Robert W. Baird upped their price objective on Home Depot from $425.00 to $450.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 20th. Jefferies Financial Group lowered their price objective on Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. DA Davidson reiterated a “buy” rating and issued a $450.00 price target on shares of Home Depot in a research note on Tuesday, August 19th. Stifel Nicolaus raised their price objective on Home Depot from $425.00 to $432.00 and gave the company a “buy” rating in a report on Monday, August 18th. Finally, TD Securities downgraded Home Depot to a “buy” rating in a report on Monday, June 2nd. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus price target of $432.52.

Home Depot Stock Performance

Shares of HD opened at $423.33 on Monday. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The stock has a 50 day moving average price of $390.03 and a two-hundred day moving average price of $372.22. The firm has a market capitalization of $421.38 billion, a P/E ratio of 28.76, a P/E/G ratio of 4.01 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.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share for the quarter, missing analysts’ consensus estimates of $4.69 by ($0.01). Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The business had revenue of $45.28 billion during the quarter, compared to analysts’ expectations of $45.43 billion. During the same quarter in the previous year, the firm earned $4.60 EPS. Home Depot’s quarterly revenue was up 4.9% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Equities analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be paid a $2.30 dividend. The ex-dividend date is Thursday, September 4th. This represents a $9.20 annualized dividend and a yield of 2.2%. Home Depot’s dividend payout ratio is presently 62.50%.

Insiders Place Their Bets

In other Home Depot news, CFO Richard V. Mcphail sold 3,369 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $403.66, for a total transaction of $1,359,930.54. Following the sale, the chief financial officer owned 45,455 shares in the company, valued at $18,348,365.30. This represents a 6.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Edward P. Decker sold 32,897 shares of the stock in a transaction on 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 owned 122,425 shares in the company, valued at approximately $48,629,658.50. This represents a 21.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,532 shares of company stock valued at $18,648,987 in the last quarter. 0.10% of the stock is currently 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.