Concurrent Investment Advisors LLC Has $25.38 Million Stock Position in The Home Depot, Inc. $HD

Key Points

• Concurrent Investment Advisors LLC increased its stake in The Home Depot by 15.3% during Q2, now holding shares valued at $25.38 million.
• Home Depot reported Q2 earnings of $4.68 per share, slightly missing estimates, and a revenue increase of 4.9% year-over-year.
• The company recently declared a quarterly dividend of $2.30 per share, yielding 2.4%, with a payout ratio of 62.50%.

Concurrent Investment Advisors LLC lifted its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 15.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 69,235 shares of the home improvement retailer's stock after purchasing an additional 9,210 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Home Depot were worth $25,384,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of HD. Asset Planning Services Inc. LA ADV boosted its position in shares of Home Depot by 99,400.7% in 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 purchasing an additional 18,956,701 shares during the period. Nuveen LLC acquired a new stake in Home Depot during the 1st quarter worth about $2,076,592,000. Valeo Financial Advisors LLC boosted its position in Home Depot by 16,746.9% during the 2nd quarter. Valeo Financial Advisors LLC now owns 4,537,880 shares of the home improvement retailer's stock worth $1,663,768,000 after acquiring an additional 4,510,944 shares during the period. Price T Rowe Associates Inc. MD boosted its position 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 worth $3,391,240,000 after acquiring an additional 1,494,261 shares during the period. Finally, Kingstone Capital Partners Texas LLC acquired a new stake in Home Depot during the 2nd quarter worth about $418,486,000. Institutional investors and hedge funds own 70.86% of the company's stock.

Home Depot Stock Down 0.5%

Shares of HD stock opened at $375.86 on Friday. The stock's 50 day simple moving average is $403.54 and its 200 day simple moving average is $377.20. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37. The company has a market capitalization of $374.13 billion, a price-to-earnings ratio of 25.53, a PEG ratio of 3.56 and a beta of 1.00.

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 company had revenue of $45.28 billion during the quarter, compared to the consensus estimate of $45.43 billion. During the same period in the previous year, the business posted $4.60 earnings per share. 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. As a group, research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current 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 paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Thursday, September 4th. Home Depot's dividend payout ratio (DPR) is presently 62.50%.

Analyst Upgrades and Downgrades

HD has been the subject of a number of research reports. Wells Fargo & Company raised their price objective on Home Depot from $420.00 to $450.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. Mizuho raised their price objective on Home Depot from $435.00 to $450.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 20th. JPMorgan Chase & Co. reduced their price target on Home Depot from $460.00 to $452.00 and set an "overweight" rating for the company in a report on Wednesday, August 20th. Stifel Nicolaus lifted their price target on Home Depot from $425.00 to $432.00 and gave the company a "buy" rating in a report on Monday, August 18th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Home Depot in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $435.42.

Insiders Place Their Bets

In related news, EVP William D. Bastek sold 3,783 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $410.23, for a total value of $1,551,900.09. Following the transaction, the executive vice president directly owned 24,235 shares of the company's stock, valued at approximately $9,941,924.05. This trade represents a 13.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $413.23, for a total value of $2,265,740.09. Following the completion of the transaction, the executive vice president directly owned 16,057 shares in the company, valued at $6,635,234.11. The trade was a 25.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,835 shares of company stock worth $19,623,432 in the last three months. 0.10% of the stock is owned by insiders.

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.

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