Tortoise Investment Management LLC Acquires New Stake in The Home Depot, Inc. $HD

Tortoise Investment Management LLC bought a new position in The Home Depot, Inc. (NYSE:HD) in the second quarter, Holdings Channel reports. The firm bought 3,407 shares of the home improvement retailer’s stock, valued at approximately $1,202,000.

A number of other institutional investors have also recently made changes to their positions in the company. Advocate Investing Services LLC purchased a new stake in Home Depot in the 4th quarter worth about $25,000. Zeit Capital LLC purchased a new position in shares of Home Depot in the second quarter worth about $26,000. Parvin Asset Management LLC raised its position in shares of Home Depot by 110.0% in the third quarter. Parvin Asset Management LLC now owns 63 shares of the home improvement retailer’s stock valued at $26,000 after purchasing an additional 33 shares during the period. Cache Advisors LLC purchased a new stake in shares of Home Depot during the 1st quarter valued at approximately $27,000. Finally, Merkkuri Wealth Advisors LLC bought a new position in Home Depot in the 1st quarter worth approximately $28,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Activity at Home Depot

In other news, CFO Richard V. Mcphail sold 5,989 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $348.40, for a total transaction of $2,086,567.60. Following the completion of the sale, the chief financial officer directly owned 48,104 shares in the company, valued at approximately $16,759,433.60. This represents a 11.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.08% of the company’s stock.

Home Depot Stock Performance

Shares of HD stock opened at $337.54 on Tuesday. The company has a market capitalization of $336.56 billion, a P/E ratio of 23.62, a PEG ratio of 3.70 and a beta of 0.95. The Home Depot, Inc. has a fifty-two week low of $289.10 and a fifty-two week high of $426.75. The company has a debt-to-equity ratio of 2.64, a quick ratio of 0.31 and a current ratio of 1.08. The stock has a 50 day moving average price of $341.02 and a two-hundred day moving average price of $339.89.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, August 18th. The home improvement retailer reported $4.92 EPS for the quarter, topping the consensus estimate of $4.73 by $0.19. Home Depot had a net margin of 8.41% and a return on equity of 106.42%. The company had revenue of $47.86 billion for the quarter, compared to the consensus estimate of $47.24 billion. During the same period in the previous year, the firm earned $4.68 earnings per share. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. Analysts expect that The Home Depot, Inc. will post 14.99 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Thursday, September 3rd will be given a $2.33 dividend. The ex-dividend date is Thursday, September 3rd. This represents a $9.32 dividend on an annualized basis and a dividend yield of 2.8%. Home Depot’s payout ratio is presently 65.22%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. TD Cowen restated a “buy” rating on shares of Home Depot in a research report on Monday, August 10th. Truist Financial raised their target price on Home Depot from $369.00 to $373.00 and gave the stock a “buy” rating in a research note on Wednesday, August 19th. Bank of America initiated coverage on Home Depot in a research report on Tuesday, May 5th. They set a “buy” rating and a $374.00 price target on the stock. Robert W. Baird lowered their price target on shares of Home Depot from $430.00 to $380.00 and set an “outperform” rating on the stock in a report on Wednesday, May 20th. Finally, Weiss Ratings upgraded shares of Home Depot from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 7th. Eighteen analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $375.54.

Home Depot Profile

The Home Depot, Inc (NYSE: HD) is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.

Home Depot’s core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.