PFG Advisors Boosts Position in The Home Depot, Inc. $HD

PFG Advisors boosted its holdings in The Home Depot, Inc. (NYSE:HD) by 16.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,523 shares of the home improvement retailer’s stock after purchasing an additional 2,951 shares during the quarter. PFG Advisors’ holdings in Home Depot were worth $7,524,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Legend Financial Advisors Inc. purchased a new position in shares of Home Depot in the 2nd quarter valued at $28,000. LFA Lugano Financial Advisors SA purchased a new stake in Home Depot in the second quarter valued at $32,000. Legacy Investment Solutions LLC acquired a new position in Home Depot in the second quarter valued at $35,000. Iron Horse Wealth Management LLC boosted its stake in Home Depot by 86.8% in the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer’s stock valued at $36,000 after acquiring an additional 46 shares in the last quarter. Finally, Global X Japan Co. Ltd. purchased a new position in shares of Home Depot during the second quarter worth about $40,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Telsey Advisory Group reissued an “outperform” rating and issued a $455.00 target price on shares of Home Depot in a report on Tuesday, August 19th. Wolfe Research initiated coverage on Home Depot in a research note on Thursday, September 18th. They issued an “outperform” rating and a $497.00 price objective for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Home Depot in a report on Wednesday, October 8th. Wells Fargo & Company lifted their target price on shares of Home Depot from $420.00 to $450.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. Finally, Sanford C. Bernstein upped their price target on shares of Home Depot from $403.00 to $406.00 and gave the company a “market perform” rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus target price of $434.82.

Home Depot Price Performance

Home Depot stock opened at $370.71 on Friday. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.34. The business has a 50 day simple moving average of $397.28 and a 200-day simple moving average of $381.46. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37. The stock has a market capitalization of $369.00 billion, a PE ratio of 25.18, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.

Home Depot (NYSE:HD) last posted its quarterly earnings data 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). The firm had revenue of $45.28 billion during the quarter, compared to analysts’ expectations of $45.43 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business earned $4.60 earnings per share. 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 year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were paid a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Thursday, September 4th. Home Depot’s payout ratio is 62.50%.

Insider Activity

In related news, EVP Angie Brown sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total value of $404,070.00. Following the completion of the sale, the executive vice president owned 3,837 shares in the company, valued at $1,550,416.59. This trade represents a 20.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Edward P. Decker sold 32,897 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer owned 122,425 shares in the company, valued at $48,629,658.50. The trade was a 21.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 48,835 shares of company stock valued at $19,623,432 over the last ninety days. 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.