Hazlett Burt & Watson Inc. Reduces Stock Holdings in The Home Depot, Inc. $HD

Hazlett Burt & Watson Inc. reduced its stake in shares of The Home Depot, Inc. (NYSE:HD) by 3.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 5,645 shares of the home improvement retailer’s stock after selling 174 shares during the period. Home Depot makes up 0.8% of Hazlett Burt & Watson Inc.’s holdings, making the stock its 24th biggest holding. Hazlett Burt & Watson Inc.’s holdings in Home Depot were worth $2,068,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Ellis Investment Partners LLC raised its holdings in shares of Home Depot by 1.4% during the 2nd quarter. Ellis Investment Partners LLC now owns 2,574 shares of the home improvement retailer’s stock valued at $944,000 after buying an additional 36 shares during the period. Index Fund Advisors Inc. purchased a new stake in Home Depot during the 2nd quarter worth approximately $203,000. M3 Advisory Group LLC increased its holdings in Home Depot by 11.9% during the 2nd quarter. M3 Advisory Group LLC now owns 688 shares of the home improvement retailer’s stock worth $252,000 after purchasing an additional 73 shares during the last quarter. Yarger Wealth Strategies LLC increased its holdings in Home Depot by 13.0% during the 2nd quarter. Yarger Wealth Strategies LLC now owns 1,182 shares of the home improvement retailer’s stock worth $433,000 after purchasing an additional 136 shares during the last quarter. Finally, Sharp Financial Services LLC increased its holdings in Home Depot by 32.9% during the 2nd quarter. Sharp Financial Services LLC now owns 1,669 shares of the home improvement retailer’s stock worth $612,000 after purchasing an additional 413 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Price Performance

Shares of HD opened at $375.86 on Monday. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The firm has a market cap of $374.13 billion, a price-to-earnings ratio of 25.53, a PEG ratio of 3.57 and a beta of 1.00. The company has a current ratio of 1.15, a quick ratio of 0.34 and a debt-to-equity ratio of 4.31. The stock has a 50 day moving average of $403.54 and a 200-day moving average of $377.30.

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

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were paid a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $9.20 annualized dividend and a yield of 2.4%. Home Depot’s payout ratio is presently 62.50%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. DA Davidson restated a “buy” rating and set a $450.00 price objective on shares of Home Depot in a report on Tuesday, August 19th. Wolfe Research assumed coverage on Home Depot in a report on Thursday, September 18th. They set an “outperform” rating and a $497.00 price objective on the stock. Stifel Nicolaus lifted their price objective on Home Depot from $425.00 to $432.00 and gave the stock a “buy” rating in a report on Monday, August 18th. Mizuho lifted their price objective on Home Depot from $435.00 to $450.00 and gave the stock an “outperform” rating in a report on Wednesday, August 20th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a report on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $435.42.

Insider Activity

In other Home Depot news, CEO Edward P. Decker sold 32,897 shares of Home Depot stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the sale, the chief executive officer owned 122,425 shares of the company’s stock, valued at $48,629,658.50. The trade was a 21.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Angie Brown sold 1,000 shares of Home Depot stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total value of $404,070.00. Following the sale, the executive vice president directly owned 3,837 shares in the company, valued at $1,550,416.59. The trade was a 20.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,835 shares of company stock worth $19,623,432 over the last ninety days. 0.10% of the stock is currently owned by company insiders.

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.