Hartford Funds Management Co LLC Takes $166,000 Position in The Home Depot, Inc. $HD

Hartford Funds Management Co LLC purchased a new position in The Home Depot, Inc. (NYSE:HD) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 454 shares of the home improvement retailer’s stock, valued at approximately $166,000. Home Depot accounts for 0.0% of Hartford Funds Management Co LLC’s investment portfolio, making the stock its 21st largest holding.

A number of other institutional investors have also added to or reduced their stakes in the company. Nuveen LLC bought a new position in shares of Home Depot in the 1st quarter worth about $2,076,592,000. Valeo Financial Advisors LLC increased its stake in shares of Home Depot by 16,746.9% during the second quarter. Valeo Financial Advisors LLC now owns 4,537,880 shares of the home improvement retailer’s stock valued at $1,663,768,000 after purchasing an additional 4,510,944 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Home Depot by 19.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,253,292 shares of the home improvement retailer’s stock valued at $3,391,240,000 after purchasing an additional 1,494,261 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in shares of Home Depot in the 2nd quarter worth approximately $418,486,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Home Depot by 6.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 14,415,278 shares of the home improvement retailer’s stock worth $5,282,398,000 after buying an additional 891,326 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Insider Buying and Selling

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

Home Depot Price Performance

HD opened at $370.71 on Monday. The company’s 50-day simple moving average is $397.28 and its two-hundred day simple moving average is $381.63. 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 stock has a market capitalization of $369.00 billion, a P/E ratio of 25.18, a P/E/G ratio of 3.59 and a beta of 1.00. 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 released its quarterly earnings data 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). The company had revenue of $45.28 billion for 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 firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The company also recently disclosed 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. This represents a $9.20 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Thursday, September 4th. Home Depot’s dividend payout ratio is 62.50%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on HD shares. Morgan Stanley lifted their price objective on Home Depot from $415.00 to $430.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. Wolfe Research started coverage on Home Depot in a research report on Thursday, September 18th. They issued an “outperform” rating and a $497.00 price target for the company. Robert W. Baird increased their price objective on shares of Home Depot from $425.00 to $450.00 and gave the company an “outperform” rating in a research report on Wednesday, August 20th. JPMorgan Chase & Co. decreased their target price on shares of Home Depot from $460.00 to $452.00 and set an “overweight” rating for the company in a report on Wednesday, August 20th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $455.00 target price on shares of Home Depot in a research note on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and an average price target of $434.82.

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.