Prudential Financial Inc. Increases Stake in The Home Depot, Inc. $HD

Prudential Financial Inc. raised its holdings in The Home Depot, Inc. (NYSE:HD) by 11.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,054,333 shares of the home improvement retailer’s stock after buying an additional 107,895 shares during the period. Prudential Financial Inc. owned approximately 0.11% of Home Depot worth $386,561,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in Home Depot by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 97,978,814 shares of the home improvement retailer’s stock worth $35,922,952,000 after purchasing an additional 1,494,615 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Home Depot by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 22,978,809 shares of the home improvement retailer’s stock valued at $8,394,611,000 after buying an additional 327,674 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Home Depot by 1.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 14,568,860 shares of the home improvement retailer’s stock valued at $5,341,724,000 after buying an additional 153,582 shares during the period. Price T Rowe Associates Inc. MD grew its position 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 worth $3,391,240,000 after buying an additional 1,494,261 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Home Depot by 5.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,949,404 shares of the home improvement retailer’s stock worth $3,279,867,000 after buying an additional 477,192 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on HD shares. Telsey Advisory Group lowered their price target on shares of Home Depot from $455.00 to $430.00 and set an “outperform” rating for the company in a report on Wednesday. Sanford C. Bernstein cut their price target on Home Depot from $406.00 to $362.00 and set a “market perform” rating on the stock in a research note on Wednesday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Home Depot in a report on Wednesday. KGI Securities lowered Home Depot from an “outperform” rating to a “hold” rating and set a $320.00 target price on the stock. in a research report on Wednesday. Finally, Morgan Stanley lowered their price target on Home Depot from $430.00 to $395.00 and set an “overweight” rating for the company in a report on Wednesday. Twenty-one analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $410.24.

Insider Activity at Home Depot

In other news, EVP William D. Bastek sold 2,303 shares of the stock in a transaction dated 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 in the company, valued at approximately $10,254,313.20. This represents a 8.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.10% of the company’s stock.

Home Depot Trading Up 3.3%

HD opened at $343.22 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 52 week low of $326.31 and a 52 week high of $439.37. The business’s 50 day moving average is $385.34 and its two-hundred day moving average is $381.15. The firm has a market cap of $341.64 billion, a price-to-earnings ratio of 23.32, 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, November 18th. The home improvement retailer reported $3.74 earnings per share for the quarter, missing the consensus estimate of $3.83 by ($0.09). The firm had revenue of $41.35 billion during the quarter, compared to analyst estimates of $41.06 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. Home Depot’s revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $3.78 earnings per share. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. On average, research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be paid a $2.30 dividend. The ex-dividend date is Thursday, December 4th. This represents a $9.20 dividend on an annualized basis and a yield of 2.7%. Home Depot’s payout ratio is currently 62.71%.

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.