Alecta Tjanstepension Omsesidigt Acquires New Stake in The Home Depot, Inc. $HD

Key Points

• Alecta Tjanstepension Omsesidigt acquired 140,900 shares of The Home Depot, Inc. valued at approximately $51.65 million in the second quarter of the year.
• Home Depot reported $4.68 earnings per share (EPS) for the last quarter, missing estimates slightly, with revenue of $45.28 billion.
• The company announced a quarterly dividend of $2.30 per share to be paid on September 18th, representing an annualized dividend of $9.20 with a yield of 2.2%.

Alecta Tjanstepension Omsesidigt acquired a new position in The Home Depot, Inc. (NYSE:HD - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 140,900 shares of the home improvement retailer's stock, valued at approximately $51,653,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Home Depot by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 96,484,199 shares of the home improvement retailer's stock worth $35,360,494,000 after purchasing an additional 720,447 shares in the last quarter. Asset Planning Services Inc. LA ADV boosted its holdings in Home Depot by 99,400.7% during the 1st quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock valued at $6,954,431,000 after acquiring an additional 18,956,701 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Home Depot by 6.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 14,415,278 shares of the home improvement retailer's stock valued at $5,282,398,000 after acquiring an additional 891,326 shares during the period. GAMMA Investing LLC boosted its holdings in Home Depot by 39,194.1% during the 1st quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock valued at $37,517,230,000 after acquiring an additional 10,210,851 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Home Depot by 19.3% during the 1st 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 acquiring an additional 1,494,261 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Home Depot

In related news, CEO Edward P. Decker sold 32,897 shares of the firm'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 transaction of $13,067,346.34. Following the completion of the transaction, the chief executive officer owned 122,425 shares of the company's stock, valued at $48,629,658.50. This trade represents a 21.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Angie Brown sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total value of $404,070.00. Following the transaction, the executive vice president directly owned 3,837 shares of the company's stock, valued at approximately $1,550,416.59. This trade represents a 20.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,835 shares of company stock worth $19,623,432 over the last quarter. 0.10% of the stock is currently owned by company insiders.

Home Depot Stock Down 0.4%

Shares of NYSE:HD traded down $1.71 during trading on Friday, hitting $415.77. The stock had a trading volume of 6,709,599 shares, compared to its average volume of 3,720,799. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37. The company has a market capitalization of $413.85 billion, a PE ratio of 28.25, a PEG ratio of 3.96 and a beta of 1.00. The firm's fifty day moving average is $394.94 and its 200 day moving average is $373.48. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31.

Home Depot (NYSE:HD - Get Free Report) last announced its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.69 by ($0.01). Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The firm had revenue of $45.28 billion during the quarter, compared to the consensus estimate of $45.43 billion. During the same period in the prior year, the company posted $4.60 EPS. The firm's revenue was up 4.9% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business 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 2.2%. The ex-dividend date of this dividend was Thursday, September 4th. Home Depot's dividend payout ratio (DPR) is 62.50%.

Wall Street Analyst Weigh In

HD has been the subject of several analyst reports. Mizuho increased their target price on Home Depot from $435.00 to $450.00 and gave the company an "outperform" rating in a report on Wednesday, August 20th. Truist Financial upped their price target on Home Depot from $417.00 to $433.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. DA Davidson reaffirmed a "buy" rating and set a $450.00 price target on shares of Home Depot in a research report on Tuesday, August 19th. Stifel Nicolaus upped their price target on Home Depot from $425.00 to $432.00 and gave the company a "buy" rating in a research report on Monday, August 18th. Finally, Wells Fargo & Company upped their price target on Home Depot from $420.00 to $450.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Home Depot currently has a consensus rating of "Moderate Buy" and a consensus price target of $435.00.

Home Depot 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.