First National Bank of Mount Dora Trust Investment Services Decreases Stake in The Home Depot, Inc. $HD

Key Points

• First National Bank of Mount Dora Trust Investment Services decreased its stake in The Home Depot by 11.8%, holding 17,098 shares after selling 2,293 shares in the 2nd quarter.
• Insider transactions have been notable, with CEO Edward P. Decker selling 32,897 shares and EVP William D. Bastek selling 3,783 shares, representing significant decreases in their respective holdings.
• The Home Depot reported Q2 earnings of $4.68 per share, slightly missing estimates, and also announced a quarterly dividend of $2.30 per share, marking a 2.4% yield.

First National Bank of Mount Dora Trust Investment Services reduced its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 11.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,098 shares of the home improvement retailer's stock after selling 2,293 shares during the period. Home Depot makes up about 1.4% of First National Bank of Mount Dora Trust Investment Services' holdings, making the stock its 27th largest position. First National Bank of Mount Dora Trust Investment Services' holdings in Home Depot were worth $6,269,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Legend Financial Advisors Inc. purchased a new stake in shares of Home Depot during the 2nd quarter worth $28,000. Abound Financial LLC purchased a new stake in shares of Home Depot in the 1st quarter worth about $31,000. Iron Horse Wealth Management LLC boosted its position in shares of 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 buying an additional 46 shares in the last quarter. Global X Japan Co. Ltd. purchased a new stake in shares of Home Depot in the 2nd quarter worth about $40,000. Finally, GFG Capital LLC purchased a new stake in shares of Home Depot in the 2nd quarter worth about $40,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Home Depot

In other news, EVP William D. Bastek sold 3,783 shares of the company's stock in a transaction dated 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 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 SEC, which is available through this link. Also, CEO Edward P. Decker sold 32,897 shares of the company's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the transaction, the chief executive officer directly owned 122,425 shares of the company's stock, valued at approximately $48,629,658.50. This represents a 21.18% 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 in the last ninety days. Company insiders own 0.10% of the company's stock.

Home Depot Trading Down 0.2%

Shares of HD stock opened at $387.40 on Friday. The firm has a 50-day moving average price of $403.62 and a 200 day moving average price of $377.73. 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 $385.61 billion, a price-to-earnings ratio of 26.32, a PEG ratio of 3.68 and a beta of 1.00. 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 announced its 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 firm had revenue of $45.28 billion during the quarter, compared to analyst estimates of $45.43 billion. During the same period in the previous year, the firm posted $4.60 EPS. 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 forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were paid 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 2.4%. Home Depot's payout ratio is presently 62.50%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on HD shares. Oppenheimer boosted their price objective on shares of Home Depot from $400.00 to $420.00 and gave the stock a "market perform" rating in a research report on Thursday, September 25th. Wolfe Research started coverage on shares of Home Depot in a research report on Thursday, September 18th. They issued an "outperform" rating and a $497.00 price objective on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Home Depot from $460.00 to $452.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 20th. DA Davidson reiterated a "buy" rating and issued a $450.00 price objective on shares of Home Depot in a research report on Tuesday, August 19th. Finally, Telsey Advisory Group reiterated an "outperform" rating and issued a $455.00 price objective on shares of Home Depot in a research report on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Home Depot has a consensus rating of "Moderate Buy" and a consensus price target of $435.42.

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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