The Home Depot, Inc. $HD Stake Lowered by Carnegie Investment Counsel

Carnegie Investment Counsel cut its stake in shares of The Home Depot, Inc. (NYSE:HD) by 8.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 85,714 shares of the home improvement retailer’s stock after selling 8,199 shares during the quarter. Carnegie Investment Counsel’s holdings in Home Depot were worth $31,426,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in HD. Brighton Jones LLC boosted its position in shares of Home Depot by 36.5% during the fourth quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock worth $10,471,000 after buying an additional 7,203 shares during the period. GAMMA Investing LLC boosted its position in shares of Home Depot by 7.2% during the first quarter. GAMMA Investing LLC now owns 27,932 shares of the home improvement retailer’s stock worth $10,237,000 after buying an additional 1,880 shares during the period. Global Assets Advisory LLC boosted its position in shares of Home Depot by 43.9% during the first quarter. Global Assets Advisory LLC now owns 1,252 shares of the home improvement retailer’s stock worth $441,000 after buying an additional 382 shares during the period. Inman Jager Wealth Management LLC boosted its position in shares of Home Depot by 6.9% during the first quarter. Inman Jager Wealth Management LLC now owns 3,020 shares of the home improvement retailer’s stock worth $1,107,000 after buying an additional 194 shares during the period. Finally, New World Advisors LLC boosted its position in shares of Home Depot by 10.5% during the first quarter. New World Advisors LLC now owns 2,131 shares of the home improvement retailer’s stock worth $781,000 after buying an additional 203 shares during the period. 70.86% of the stock is owned by institutional investors.

Home Depot Price Performance

NYSE HD opened at $385.06 on Friday. The stock has a market capitalization of $383.29 billion, a P/E ratio of 26.16, a P/E/G ratio of 3.69 and a beta of 1.00. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37. The business’s fifty day moving average is $402.93 and its two-hundred day moving average is $378.83. 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 posted its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $45.43 billion. During the same period in the prior year, the company posted $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. On average, research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company 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. This represents a $9.20 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Thursday, September 4th. Home Depot’s payout ratio is 62.50%.

Insider Activity at Home Depot

In other Home Depot news, CFO Richard V. Mcphail sold 3,369 shares of the business’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $403.66, for a total transaction of $1,359,930.54. Following the sale, the chief financial officer directly owned 45,455 shares of the company’s stock, valued at $18,348,365.30. The trade was a 6.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Edward P. Decker sold 32,897 shares of the business’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the sale, the chief executive officer directly owned 122,425 shares in the company, valued at approximately $48,629,658.50. This trade represents a 21.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,835 shares of company stock worth $19,623,432. Insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Truist Financial boosted their price objective on Home Depot from $417.00 to $433.00 and gave the stock a “buy” rating in a research report on Wednesday, August 13th. Weiss Ratings restated a “buy (b)” rating on shares of Home Depot in a research report on Wednesday, October 8th. Morgan Stanley upped their target price on Home Depot from $415.00 to $430.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. Wolfe Research began coverage on Home Depot in a research report on Thursday, September 18th. They issued an “outperform” rating and a $497.00 target price for the company. Finally, Oppenheimer upped their target price on Home Depot from $400.00 to $420.00 and gave the stock a “market perform” rating in a research report on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $435.42.

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.