Border to Coast Pensions Partnership Ltd Raises Stake in The Home Depot, Inc. $HD

Key Points

• Border to Coast Pensions Partnership Ltd increased its stake in The Home Depot, Inc. by 5.6% during the second quarter, now holding 222,374 shares valued at approximately $81.5 million.
• Home Depot's latest earnings report showed an EPS of $4.68, slightly missing the consensus estimate of $4.69, with revenue up 4.9% year-over-year.
• The company recently announced a quarterly dividend of $2.30 per share, representing an annualized yield of 2.2%.

Border to Coast Pensions Partnership Ltd increased its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 5.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 222,374 shares of the home improvement retailer's stock after acquiring an additional 11,838 shares during the quarter. Home Depot comprises 1.5% of Border to Coast Pensions Partnership Ltd's investment portfolio, making the stock its 16th largest holding. Border to Coast Pensions Partnership Ltd's holdings in Home Depot were worth $81,531,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Abound Financial LLC purchased a new stake in Home Depot in the first quarter worth about $31,000. Iron Horse Wealth Management LLC raised its holdings in Home Depot by 86.8% in the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock worth $36,000 after purchasing an additional 46 shares during the period. Global X Japan Co. Ltd. purchased a new stake in shares of Home Depot in the second quarter valued at approximately $40,000. Compass Financial Services Inc purchased a new position in shares of Home Depot during the first quarter worth $41,000. Finally, Livelsberger Financial Advisory acquired a new stake in Home Depot in the second quarter valued at $41,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP William D. Bastek sold 3,783 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $410.23, for a total transaction of $1,551,900.09. Following the completion of the transaction, the executive vice president directly owned 24,235 shares of the company's stock, valued at $9,941,924.05. This represents a 13.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Richard V. Mcphail sold 3,369 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $403.66, for a total transaction of $1,359,930.54. Following the sale, the chief financial officer directly owned 45,455 shares in the company, valued at $18,348,365.30. The trade was a 6.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,835 shares of company stock worth $19,623,432 over the last 90 days. 0.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on HD shares. Wolfe Research assumed coverage on Home Depot in a report on Thursday. They issued an "outperform" rating and a $497.00 price target for the company. DA Davidson reaffirmed a "buy" rating and issued a $450.00 target price on shares of Home Depot in a research note on Tuesday, August 19th. JPMorgan Chase & Co. dropped their target price on shares of Home Depot from $460.00 to $452.00 and set an "overweight" rating for the company in a research report on Wednesday, August 20th. Truist Financial upped their target price on shares of Home Depot from $417.00 to $433.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Finally, Mizuho increased their price target on shares of Home Depot from $435.00 to $450.00 and gave the company an "outperform" rating in a research report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $435.00.

Home Depot Price Performance

HD stock traded down $2.83 during midday trading on Monday, reaching $412.86. The stock had a trading volume of 2,655,518 shares, compared to its average volume of 3,792,485. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37. The company has a market cap of $410.96 billion, a price-to-earnings ratio of 28.05, a price-to-earnings-growth ratio of 3.94 and a beta of 1.00. The company's fifty day simple moving average is $395.79 and its 200 day simple moving average is $373.58. The company has a current ratio of 1.15, a quick ratio of 0.34 and a debt-to-equity ratio of 4.31.

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

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were issued a $2.30 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $9.20 annualized dividend and a yield of 2.2%. Home Depot's dividend payout ratio 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.