Boston Common Asset Management LLC Lowers Stake in The Home Depot, Inc. $HD

Key Points

• Boston Common Asset Management cut its Home Depot stake by 27.4% in the second quarter, selling 7,439 shares and retaining 19,662 shares valued at approximately $6.9 million. Institutional investors collectively own 70.86% of the stock.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $373.18, although several firms recently lowered their targets.
• Home Depot exceeded its latest quarterly earnings and revenue estimates and pays a quarterly dividend of $2.33 per share, but high interest rates, weak housing activity and margin pressure could weigh on its recovery.

Boston Common Asset Management LLC lessened its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 27.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,662 shares of the home improvement retailer's stock after selling 7,439 shares during the quarter. Boston Common Asset Management LLC's holdings in Home Depot were worth $6,934,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in HD. Legacy Private Trust Co. lifted its stake in shares of Home Depot by 19.9% during the 2nd quarter. Legacy Private Trust Co. now owns 11,294 shares of the home improvement retailer's stock worth $3,983,000 after purchasing an additional 1,875 shares during the last quarter. Leavell Investment Management Inc. grew its stake in Home Depot by 1.6% in the second quarter. Leavell Investment Management Inc. now owns 43,924 shares of the home improvement retailer's stock valued at $15,491,000 after purchasing an additional 684 shares during the last quarter. ONE Advisory Partners LLC bought a new position in Home Depot in the second quarter worth about $202,000. Envestnet Portfolio Solutions Inc. raised its holdings in Home Depot by 9.6% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 49,096 shares of the home improvement retailer's stock worth $17,315,000 after purchasing an additional 4,292 shares in the last quarter. Finally, Hager Investment Management Services LLC lifted its position in shares of Home Depot by 8.9% during the second quarter. Hager Investment Management Services LLC now owns 10,621 shares of the home improvement retailer's stock valued at $3,746,000 after buying an additional 864 shares during the last quarter. 70.86% of the stock is owned by institutional investors.

Analysts Set New Price Targets

HD has been the topic of a number of analyst reports. TD Cowen reaffirmed a "buy" rating on shares of Home Depot in a research report on Monday. Argus lowered their target price on shares of Home Depot from $425.00 to $400.00 and set a "buy" rating for the company in a research note on Thursday, May 21st. Jefferies Financial Group cut their price target on shares of Home Depot from $361.00 to $360.00 and set a "buy" rating on the stock in a report on Thursday, June 4th. UBS Group decreased their price objective on Home Depot from $450.00 to $430.00 and set a "buy" rating for the company in a report on Wednesday, May 20th. Finally, Mizuho lowered their price objective on Home Depot from $415.00 to $385.00 and set an "outperform" rating for the company in a research report on Wednesday, May 20th. Eighteen research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $373.18.

More Home Depot News

Here are the key news stories impacting Home Depot this week:

• Positive Sentiment: Analysts expect second-quarter sales and earnings growth, supported by continued momentum among professional customers (“Pros”) and gains in digital sales. Wells Fargo also raised its price target to $400, suggesting potential upside if Home Depot delivers a solid report. Home Depot to Post Q2 Earnings Wells Fargo Raises Home Depot Price Target
• Positive Sentiment: Home Depot’s long record of dividend payments may provide support for income-focused investors, while the bankruptcy filing of a smaller hardware rival could modestly reinforce the company’s scale and competitive position. Home Depot Dividend Streak Hardware Rival Files Chapter 11
• Neutral Sentiment: The company’s finance chief Richard McPhail and another senior executive will help manage operations during Decker’s absence. The arrangement limits immediate disruption, but investors may seek more clarity on the duration of the leave and its effect on strategy. Home Depot Executives Step Up During CEO Leave
• Negative Sentiment: Oppenheimer and other analysts caution that second-quarter results may show little evidence of a recovery. High interest rates, weak housing activity, margin pressure and rising fuel costs are weighing on renovation demand and retailer expenses. Home Depot and Lowe’s Results Face Macro Pressures
• Negative Sentiment: Several previews argue that HD may already be priced for a recovery, increasing the risk of a negative reaction if sales, margins or management guidance disappoint. Bernstein has maintained a Hold rating. Home Depot Q2 Earnings Preview Bernstein Maintains Hold Rating

Home Depot Price Performance

Shares of Home Depot stock opened at $338.21 on Friday. The firm has a market cap of $337.23 billion, a PE ratio of 24.02, a P/E/G ratio of 4.11 and a beta of 0.95. The Home Depot, Inc. has a twelve month low of $289.10 and a twelve month high of $426.75. The company has a quick ratio of 0.28, a current ratio of 1.04 and a debt-to-equity ratio of 3.23. The business has a 50-day moving average price of $339.17 and a 200 day moving average price of $341.85.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings data on Tuesday, May 19th. The home improvement retailer reported $3.43 EPS for the quarter, beating the consensus estimate of $3.41 by $0.02. The company had revenue of $41.77 billion for the quarter, compared to analyst estimates of $41.59 billion. Home Depot had a return on equity of 117.24% and a net margin of 8.41%.Home Depot's quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the company earned $3.56 earnings per share. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. Sell-side analysts predict that The Home Depot, Inc. will post 15 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th were given a dividend of $2.33 per share. The ex-dividend date was Thursday, June 4th. This represents a $9.32 dividend on an annualized basis and a yield of 2.8%. Home Depot's dividend payout ratio is currently 66.19%.

Home Depot Company 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.

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