KLP Kapitalforvaltning AS Acquires 14,000 Shares of The Home Depot, Inc. $HD

Key Points

• KLP Kapitalforvaltning AS increased its stake in The Home Depot by 3.7%, acquiring an additional 14,000 shares to reach a total of 397,042 shares, valued at approximately $145.57 million.
• The Home Depot reported Q2 earnings of $4.68 per share, falling slightly short of analyst expectations of $4.69, with a net revenue of $45.28 billion.
• In its latest dividend announcement, Home Depot declared a quarterly dividend of $2.30 per share, equating to an annualized yield of 2.4% and a payout ratio of 62.50%.

KLP Kapitalforvaltning AS lifted its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 3.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 397,042 shares of the home improvement retailer's stock after purchasing an additional 14,000 shares during the period. Home Depot accounts for about 0.6% of KLP Kapitalforvaltning AS's portfolio, making the stock its 21st biggest position. KLP Kapitalforvaltning AS's holdings in Home Depot were worth $145,571,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in HD. Brighton Jones LLC boosted its position in shares of Home Depot by 36.5% during the 4th quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer's stock valued at $10,471,000 after purchasing an additional 7,203 shares in the last quarter. Patriot Financial Group Insurance Agency LLC boosted its position in shares of Home Depot by 3.3% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 3,197 shares of the home improvement retailer's stock valued at $1,172,000 after purchasing an additional 102 shares in the last quarter. Wedge Capital Management L L P NC boosted its position in shares of Home Depot by 4.1% during the 1st quarter. Wedge Capital Management L L P NC now owns 1,698 shares of the home improvement retailer's stock valued at $622,000 after purchasing an additional 67 shares in the last quarter. 25 LLC boosted its holdings in Home Depot by 8.7% in the first quarter. 25 LLC now owns 1,281 shares of the home improvement retailer's stock worth $470,000 after acquiring an additional 102 shares in the last quarter. Finally, First Citizens Bank & Trust Co. boosted its holdings in Home Depot by 1.5% in the first quarter. First Citizens Bank & Trust Co. now owns 59,141 shares of the home improvement retailer's stock worth $21,675,000 after acquiring an additional 894 shares in the last quarter. Institutional investors own 70.86% of the company's stock.

Home Depot Stock Down 1.4%

HD stock opened at $389.56 on Tuesday. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31. The stock's 50 day moving average is $402.88 and its 200-day moving average is $376.78. The firm has a market capitalization of $387.76 billion, a PE ratio of 26.46, a P/E/G ratio of 3.75 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last posted its earnings results 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 quarter in the prior year, the business earned $4.60 EPS. The firm'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. Sell-side analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were issued 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 was Thursday, September 4th. Home Depot's dividend payout ratio (DPR) is currently 62.50%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on HD. Robert W. Baird increased their price target on Home Depot from $425.00 to $450.00 and gave the stock an "outperform" rating in a report on Wednesday, August 20th. Wells Fargo & Company increased their price target on Home Depot from $420.00 to $450.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. Mizuho increased their price target on Home Depot from $435.00 to $450.00 and gave the stock an "outperform" rating in a report on Wednesday, August 20th. Oppenheimer increased their price target on Home Depot from $400.00 to $420.00 and gave the stock a "market perform" rating in a report on Thursday, September 25th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Home Depot in a report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $436.40.

Insider Buying and Selling

In other news, CEO Edward P. Decker sold 32,897 shares of the firm'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 transaction, the chief executive officer 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of the 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 sale, the executive vice president directly owned 16,057 shares of the company's stock, 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. Over the last ninety days, insiders have sold 48,835 shares of company stock valued at $19,623,432. 0.10% of the stock is currently owned by company 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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