Meridian Wealth Management LLC Has $12.98 Million Stock Position in The Home Depot, Inc. $HD

Meridian Wealth Management LLC boosted its holdings in The Home Depot, Inc. (NYSE:HD) by 2.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 35,400 shares of the home improvement retailer’s stock after acquiring an additional 901 shares during the quarter. Meridian Wealth Management LLC’s holdings in Home Depot were worth $12,979,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Legend Financial Advisors Inc. bought a new stake in shares of Home Depot in the 2nd quarter valued at $28,000. LFA Lugano Financial Advisors SA acquired a new position in Home Depot in the 2nd quarter worth $32,000. Legacy Investment Solutions LLC bought a new position in Home Depot during the 2nd quarter worth about $35,000. Global X Japan Co. Ltd. bought a new position in Home Depot during the 2nd quarter worth about $40,000. Finally, GFG Capital LLC bought a new stake in shares of Home Depot in the second quarter valued at about $40,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Home Depot

In other news, 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 completion of the sale, the chief executive officer owned 122,425 shares of the company’s stock, valued at approximately $48,629,658.50. The trade was a 21.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $413.23, for a total transaction of $2,265,740.09. Following the transaction, the executive vice president directly owned 16,057 shares in the company, valued at approximately $6,635,234.11. This represents a 25.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 48,835 shares of company stock valued at $19,623,432 in the last 90 days. Corporate insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Home Depot in a research report on Thursday. Mizuho lifted their price objective on shares of Home Depot from $435.00 to $450.00 and gave the company an “outperform” rating in a report on Wednesday, August 20th. DA Davidson restated a “buy” rating and set a $450.00 target price on shares of Home Depot in a report on Tuesday, August 19th. Truist Financial lowered their price target on shares of Home Depot from $454.00 to $421.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Finally, Wells Fargo & Company reduced their price objective on shares of Home Depot from $450.00 to $435.00 and set an “overweight” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $429.33.

Home Depot Price Performance

NYSE:HD opened at $362.08 on Friday. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37. The stock’s 50 day moving average price is $393.15 and its two-hundred day moving average price is $381.69. The firm has a market capitalization of $360.41 billion, a price-to-earnings ratio of 24.60, a P/E/G ratio of 3.59 and a beta of 1.00.

Home Depot (NYSE:HD) last issued 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 during the quarter, compared to the consensus estimate of $45.43 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. Home Depot’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

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