Bridges Investment Management Inc. Sells 2,384 Shares of The Home Depot, Inc. $HD

Key Points

• Bridges Investment Management Inc. reduced its holdings in The Home Depot, Inc. by 2.2%, selling 2,384 shares during the second quarter, bringing their total to 103,724 shares valued at approximately $38 million.
• Institutional ownership of Home Depot is currently at 70.86%, with various large investors adjusting their positions, including Mainstay Capital Management and Shell Asset Management Co.
• Home Depot's recent earnings report revealed a slight miss on estimates, with an EPS of $4.68 versus the expected $4.69, and the company declared a quarterly dividend of $2.30.

Bridges Investment Management Inc. reduced its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 2.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 103,724 shares of the home improvement retailer's stock after selling 2,384 shares during the quarter. Bridges Investment Management Inc.'s holdings in Home Depot were worth $38,029,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Mainstay Capital Management LLC ADV bought a new stake in shares of Home Depot during the 2nd quarter valued at about $263,000. Tower View Wealth Management LLC grew its stake in shares of Home Depot by 4.3% during the 2nd quarter. Tower View Wealth Management LLC now owns 16,196 shares of the home improvement retailer's stock valued at $5,938,000 after purchasing an additional 671 shares during the period. Ransom Advisory Ltd bought a new stake in shares of Home Depot during the 1st quarter valued at about $3,851,000. Shell Asset Management Co. grew its stake in shares of Home Depot by 45.2% during the 2nd quarter. Shell Asset Management Co. now owns 48,175 shares of the home improvement retailer's stock valued at $17,663,000 after purchasing an additional 15,002 shares during the period. Finally, Financial Gravity Asset Management Inc. bought a new stake in shares of Home Depot during the 1st quarter valued at about $406,000. 70.86% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. cut their price target on Home Depot from $460.00 to $452.00 and set an "overweight" rating for the company in a research note on Wednesday, August 20th. Wolfe Research initiated coverage on Home Depot in a research note on Thursday, September 18th. They set an "outperform" rating and a $497.00 price objective for the company. Wells Fargo & Company boosted their price objective on Home Depot from $420.00 to $450.00 and gave the company an "overweight" rating in a research note on Wednesday, August 20th. Oppenheimer boosted their price objective on Home Depot from $400.00 to $420.00 and gave the company a "market perform" rating in a research note on Thursday, September 25th. Finally, Truist Financial boosted their price objective on Home Depot from $417.00 to $433.00 and gave the company a "buy" rating in a research note on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $435.42.

Insiders Place Their Bets

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

Home Depot Trading Up 0.2%

HD stock opened at $388.49 on Thursday. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.34. The company has a market capitalization of $386.70 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 3.68 and a beta of 1.00. The business has a 50 day simple moving average of $403.59 and a two-hundred day simple moving average of $377.59.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share 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 business had revenue of $45.28 billion during the quarter, compared to the consensus estimate of $45.43 billion. During the same quarter in the previous year, the company earned $4.60 earnings per share. The company's revenue for the quarter 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. Research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were paid a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.4%. The ex-dividend date was Thursday, September 4th. Home Depot's dividend payout ratio is presently 62.50%.

About Home Depot

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.

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