Convergence Investment Partners LLC Sells 2,720 Shares of The Home Depot, Inc. $HD

Convergence Investment Partners LLC cut its holdings in The Home Depot, Inc. (NYSE:HD) by 21.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,033 shares of the home improvement retailer’s stock after selling 2,720 shares during the period. Home Depot comprises 0.9% of Convergence Investment Partners LLC’s holdings, making the stock its 23rd largest holding. Convergence Investment Partners LLC’s holdings in Home Depot were worth $3,678,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Mainstay Capital Management LLC ADV bought a new position in Home Depot during the 2nd quarter valued at about $263,000. WealthPlan Investment Management LLC bought a new position in Home Depot during the 2nd quarter valued at about $1,149,000. Tower View Wealth Management LLC grew its holdings in 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 valued at $5,938,000 after purchasing an additional 671 shares during the last quarter. Ransom Advisory Ltd bought a new position in Home Depot during the 1st quarter valued at about $3,851,000. Finally, Shell Asset Management Co. grew its holdings in Home Depot by 45.2% during the 2nd quarter. Shell Asset Management Co. now owns 48,175 shares of the home improvement retailer’s stock valued at $17,663,000 after purchasing an additional 15,002 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on HD. Morgan Stanley upped their price target on shares of Home Depot from $415.00 to $430.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. Mizuho upped their target price on shares of Home Depot from $435.00 to $450.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 20th. Wells Fargo & Company upped their target price on shares of Home Depot from $420.00 to $450.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. Truist Financial upped their target price on shares of Home Depot from $417.00 to $433.00 and gave the stock a “buy” rating in a research note on Wednesday, August 13th. 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 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $435.42.

Insider Activity at Home Depot

In related news, EVP William D. Bastek sold 2,303 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $423.12, for a total transaction 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 represents a 8.68% 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, CFO Richard V. Mcphail sold 3,369 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders have sold a total of 48,835 shares of company stock valued at $19,623,432 over the last three months. Company insiders own 0.10% of the company’s stock.

Home Depot Price Performance

Shares of HD opened at $386.83 on Monday. The company has a 50 day moving average price of $402.68 and a 200-day moving average price of $379.68. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The stock has a market capitalization of $385.04 billion, a PE ratio of 26.28, a PEG ratio of 3.67 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 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). 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 period 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. Equities analysts predict 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 announced a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were given a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $9.20 dividend on an annualized basis and a yield of 2.4%. Home Depot’s dividend payout ratio is presently 62.50%.

Home Depot Company 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.