Eastern Bank Sells 2,311 Shares of The Home Depot, Inc. $HD

Key Points

• Eastern Bank has reduced its stake in The Home Depot by 2.3%, selling 2,311 shares, leaving it with a total of 97,478 shares valued at approximately $35.7 million.
• In recent insider transactions, CFO Richard Mcphail and EVP Angie Brown sold shares, contributing to a total of 48,835 shares sold by insiders in the last 90 days, valued at nearly $19.6 million.
• Home Depot's quarterly earnings report showed a slight miss in earnings per share at $4.68 compared to the analyst estimate of $4.69, with revenue reaching $45.28 billion.

Eastern Bank cut its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 2.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,478 shares of the home improvement retailer's stock after selling 2,311 shares during the period. Eastern Bank's holdings in Home Depot were worth $35,739,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Legend Financial Advisors Inc. bought a new stake in shares of Home Depot during the 2nd quarter worth $28,000. Abound Financial LLC bought a new stake in shares of Home Depot during the 1st quarter worth $31,000. Iron Horse Wealth Management LLC raised its stake in shares of Home Depot by 86.8% during 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. bought a new stake in shares of Home Depot during the 2nd quarter worth $40,000. Finally, GFG Capital LLC bought a new stake in shares of Home Depot during the 2nd quarter worth $40,000. 70.86% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Richard V. Mcphail sold 3,369 shares of the company'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. This represents a 6.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Angie Brown sold 1,000 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total value of $404,070.00. Following the sale, the executive vice president owned 3,837 shares in the company, valued at approximately $1,550,416.59. This represents a 20.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,835 shares of company stock valued at $19,623,432. 0.10% of the stock is currently owned by insiders.

Home Depot Trading Down 0.5%

Shares of Home Depot 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 $377.09. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37. The stock has a market capitalization of $374.13 billion, a P/E ratio of 25.53, a P/E/G ratio of 3.58 and a beta of 1.00. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15.

Home Depot (NYSE:HD - Get Free Report) last announced 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 net margin of 8.86% and a return on equity of 193.99%. The company had revenue of $45.28 billion for the quarter, compared to the consensus estimate of $45.43 billion. During the same quarter in the prior year, the company earned $4.60 earnings per share. The company's quarterly 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 anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

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

Wall Street Analysts Forecast Growth

HD has been the topic of a number of recent analyst reports. DA Davidson reiterated a "buy" rating and set a $450.00 target price on shares of Home Depot in a research note on Tuesday, August 19th. Morgan Stanley lifted their target price on Home Depot from $415.00 to $430.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. Stifel Nicolaus lifted their target price on Home Depot from $425.00 to $432.00 and gave the stock a "buy" rating in a research note on Monday, August 18th. 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. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $435.42.

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.

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