RMG Wealth Management LLC Takes Position in The Home Depot, Inc. $HD

RMG Wealth Management LLC bought a new position in The Home Depot, Inc. (NYSE:HD) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 746 shares of the home improvement retailer’s stock, valued at approximately $267,000.

A number of other institutional investors have also recently bought and sold shares of HD. Tower View Wealth Management LLC lifted its holdings in shares of Home Depot by 4.3% during the 2nd quarter. Tower View Wealth Management LLC now owns 16,196 shares of the home improvement retailer’s stock worth $5,938,000 after acquiring an additional 671 shares during the period. Ransom Advisory Ltd acquired a new position in Home Depot in the first quarter worth about $3,851,000. Financial Gravity Asset Management Inc. bought a new position in Home Depot during the first quarter worth about $406,000. Arbor Capital Management Inc. ADV boosted its holdings in 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 valued at $1,757,000 after purchasing an additional 221 shares in the last quarter. Finally, Focus Partners Wealth grew its stake in shares of Home Depot by 4.1% in the 1st quarter. Focus Partners Wealth now owns 423,287 shares of the home improvement retailer’s stock valued at $155,131,000 after purchasing an additional 16,654 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Truist Financial upped their price objective on Home Depot from $417.00 to $433.00 and gave the company a “buy” rating in a research note on Wednesday, August 13th. Morgan Stanley boosted their price target on Home Depot from $415.00 to $430.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Home Depot in a research note on Saturday, September 27th. Oppenheimer lifted their price objective on Home Depot from $400.00 to $420.00 and gave the company a “market perform” rating in a report on Thursday, September 25th. Finally, DA Davidson restated a “buy” rating and issued a $450.00 target price on shares of Home Depot in a research note on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $436.40.

Insider Transactions at Home Depot

In related news, EVP William D. Bastek sold 2,303 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $423.12, for a total value of $974,445.36. Following the completion of the sale, the executive vice president owned 24,235 shares of the company’s stock, valued at $10,254,313.20. This trade represents a 8.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president owned 16,057 shares of the company’s stock, valued at $6,635,234.11. This trade represents a 25.45% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,835 shares of company stock worth $19,623,432. Corporate insiders own 0.10% of the company’s stock.

Home Depot Trading Down 1.4%

Shares of HD opened at $389.56 on Tuesday. 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 company has a market cap of $387.76 billion, a price-to-earnings ratio of 26.46, a PEG ratio of 3.75 and a beta of 1.00. The stock has a fifty day moving average price of $402.88 and a two-hundred day moving average price of $376.78. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $45.43 billion. During the same quarter in the previous year, the company posted $4.60 EPS. Home Depot’s revenue for the quarter was up 4.9% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were given a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.4%. The ex-dividend date was Thursday, September 4th. Home Depot’s dividend payout ratio (DPR) is presently 62.50%.

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.