Flputnam Investment Management Co. Sells 35,764 Shares of The Home Depot, Inc. $HD

Key Points

• Flputnam Investment Management cut its Home Depot position by 36.4% in the second quarter, selling 35,764 shares and retaining 62,423 shares valued at approximately $22.0 million. Institutional investors collectively own 70.86% of HD.
• Home Depot’s latest quarterly results exceeded expectations, with EPS of $4.92 versus a $4.73 consensus and revenue of $47.86 billion, up 5.7% year over year. The company also declared a quarterly dividend of $2.33, equivalent to a 2.9% annualized yield.
• Analysts maintain a “Moderate Buy” consensus and a $375.54 price target, but housing-market weakness, elevated mortgage rates and downward revisions to future earnings estimates remain risks for the stock.

Flputnam Investment Management Co. lowered its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 36.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 62,423 shares of the home improvement retailer's stock after selling 35,764 shares during the quarter. Flputnam Investment Management Co.'s holdings in Home Depot were worth $22,015,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Provident Trust Co. grew its position in shares of Home Depot by 9.9% in the 2nd quarter. Provident Trust Co. now owns 831,190 shares of the home improvement retailer's stock worth $293,144,000 after buying an additional 74,910 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of Home Depot by 5.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 336,110 shares of the home improvement retailer's stock worth $118,539,000 after acquiring an additional 18,005 shares in the last quarter. Rational Advisors Inc. lifted its position in Home Depot by 13.9% during the 2nd quarter. Rational Advisors Inc. now owns 369 shares of the home improvement retailer's stock valued at $130,000 after acquiring an additional 45 shares during the period. Hennessy Advisors Inc. lifted its position in Home Depot by 12.1% during the 2nd quarter. Hennessy Advisors Inc. now owns 28,640 shares of the home improvement retailer's stock valued at $10,101,000 after acquiring an additional 3,090 shares during the period. Finally, Spinnaker Trust boosted its stake in Home Depot by 0.7% during the second quarter. Spinnaker Trust now owns 43,155 shares of the home improvement retailer's stock worth $15,220,000 after acquiring an additional 282 shares in the last quarter. Institutional investors own 70.86% of the company's stock.

Home Depot Stock Down 0.2%

Home Depot stock opened at $317.79 on Friday. The firm has a market cap of $317.06 billion, a price-to-earnings ratio of 22.24, a PEG ratio of 3.51 and a beta of 0.95. The stock has a fifty day simple moving average of $339.90 and a two-hundred day simple moving average of $336.51. The Home Depot, Inc. has a 12 month low of $289.10 and a 12 month high of $426.75. The company has a current ratio of 1.08, a quick ratio of 0.31 and a debt-to-equity ratio of 2.64.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings results on Tuesday, August 18th. The home improvement retailer reported $4.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.73 by $0.19. Home Depot had a return on equity of 106.42% and a net margin of 8.41%.The firm had revenue of $47.86 billion for the quarter, compared to the consensus estimate of $47.24 billion. During the same period in the prior year, the company posted $4.68 earnings per share. The company's quarterly revenue was up 5.7% on a year-over-year basis. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. Equities analysts predict that The Home Depot, Inc. will post 15 EPS for the current fiscal year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Thursday, September 3rd will be given a $2.33 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $9.32 dividend on an annualized basis and a yield of 2.9%. Home Depot's payout ratio is 65.22%.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Teresa Roseborough sold 2,455 shares of the company's stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $328.77, for a total transaction of $807,130.35. Following the transaction, the executive vice president owned 14,061 shares in the company, valued at approximately $4,622,834.97. This represents a 14.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Rowe sold 710 shares of the firm's stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $336.76, for a total transaction of $239,099.60. Following the sale, the executive vice president directly owned 6,838 shares in the company, valued at approximately $2,302,764.88. The trade was a 9.41% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 9,154 shares of company stock worth $3,132,798. Company insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

HD has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of Home Depot from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, July 7th. Wolfe Research lowered shares of Home Depot from an "outperform" rating to a "peer perform" rating in a report on Tuesday, June 23rd. Piper Sandler dropped their price target on Home Depot from $422.00 to $421.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 20th. Robert W. Baird cut their price target on Home Depot from $430.00 to $380.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 20th. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating and set a $354.00 price objective on shares of Home Depot in a research report on Wednesday, August 19th. Eighteen investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $375.54.

Key Headlines Impacting Home Depot

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

• Positive Sentiment: Home Depot’s professional-customer growth and technology investments could support a recovery. The company has expanded its AI-powered Magic Apron tools across U.S. stores, while one analysis argues the stock may be about 15% undervalued if its Pro business gains momentum. Home Depot Could Be 15% Undervalued on Its Pro Growth Narrative
• Neutral Sentiment: Zacks Research raised its fiscal 2027 EPS forecast slightly to $15.03 from $14.95, broadly matching the current consensus estimate of $15.00. However, this isolated increase was accompanied by several reductions to later quarterly and annual forecasts. Home Depot Analyst Estimates
• Neutral Sentiment: Recent operating results remain a support for the shares: Home Depot exceeded quarterly earnings and revenue expectations, with revenue up 5.7% year over year. The key concern is whether that growth can accelerate amid a weak housing environment.
• Negative Sentiment: Mortgage rates have reached a one-year high following a global bond sell-off. Higher borrowing costs can discourage home purchases, renovations and moves, limiting demand for big-ticket projects at Home Depot and Lowe’s. Mortgage Rates Just Hit a One-Year High
• Negative Sentiment: Homeowners remain locked into older, cheaper mortgages, and the probability of moving within 12 months has fallen to a record-low 13.5%. Home Depot reportedly sees “no sign” of a housing turnaround, pressuring near-term sales prospects. Americans Stop Moving as Mortgage Lock-In Persists
• Negative Sentiment: Analysts have cut multiple future EPS estimates, including fiscal 2028 EPS to $16.05 from $16.23 and fiscal 2029 EPS to $17.41 from $17.62. The revisions suggest slower expected growth and weigh on valuation. The Gap Between HD Stock and Its Own Numbers
• Negative Sentiment: Comparisons with Costco and Lowe’s highlight concerns about Home Depot’s relative performance, dividend coverage and competitive position. Bearish options activity, including a proposed bear put spread, further reflects expectations that the stock could remain under pressure. Home Depot Bear Put Spread Could Return 181 Percent

Home Depot 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source