Lighthouse Financial Services Inc. ADV Makes New Investment in The Home Depot, Inc. $HD

Key Points

• Lighthouse Financial Services opened a new position in Home Depot during the fourth quarter, buying 7,054 shares worth about $2.43 million.
• Home Depot reported better-than-expected quarterly earnings of $2.72 per share on revenue of $38.20 billion, though revenue still fell 3.8% year over year.
• The company raised its quarterly dividend to $2.33 per share, while analysts currently rate the stock a Moderate Buy with an average price target of $412.24.

Lighthouse Financial Services Inc. ADV bought a new position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 7,054 shares of the home improvement retailer's stock, valued at approximately $2,427,000.

Other hedge funds also recently added to or reduced their stakes in the company. Parvin Asset Management LLC lifted its holdings in Home Depot by 110.0% during the 3rd quarter. Parvin Asset Management LLC now owns 63 shares of the home improvement retailer's stock worth $26,000 after buying an additional 33 shares in the last quarter. Financially Speaking Inc acquired a new stake in Home Depot during the 3rd quarter worth approximately $31,000. Key Capital Management INC acquired a new stake in Home Depot during the 4th quarter worth approximately $28,000. Imprint Wealth LLC acquired a new stake in Home Depot during the 3rd quarter worth approximately $34,000. Finally, AXS Investments LLC acquired a new stake in Home Depot during the 3rd quarter worth approximately $38,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Price Performance

Shares of HD opened at $317.43 on Friday. The Home Depot, Inc. has a twelve month low of $310.40 and a twelve month high of $426.75. The firm's fifty day simple moving average is $339.65 and its 200-day simple moving average is $357.57. The firm has a market capitalization of $316.17 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 3.72 and a beta of 1.00. The company has a current ratio of 1.06, a quick ratio of 0.26 and a debt-to-equity ratio of 3.62.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings data on Tuesday, February 24th. The home improvement retailer reported $2.72 earnings per share for the quarter, beating analysts' consensus estimates of $2.52 by $0.20. The business had revenue of $38.20 billion for the quarter, compared to analyst estimates of $38.01 billion. Home Depot had a net margin of 8.60% and a return on equity of 134.32%. The company's revenue was down 3.8% on a year-over-year basis. During the same period last year, the business earned $3.13 EPS. Home Depot has set its FY 2026 guidance at 14.230-14.799 EPS. Equities analysts forecast that The Home Depot, Inc. will post 15.03 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Thursday, March 12th were given a $2.33 dividend. This is a positive change from Home Depot's previous quarterly dividend of $2.30. The ex-dividend date of this dividend was Thursday, March 12th. This represents a $9.32 dividend on an annualized basis and a dividend yield of 2.9%. Home Depot's payout ratio is 65.50%.

Analysts Set New Price Targets

A number of research firms have issued reports on HD. KeyCorp reiterated a "sector weight" rating on shares of Home Depot in a report on Wednesday, February 25th. Zacks Research upgraded shares of Home Depot from a "strong sell" rating to a "hold" rating in a report on Monday, February 9th. Royal Bank Of Canada raised their price objective on shares of Home Depot from $363.00 to $377.00 and gave the company a "sector perform" rating in a report on Wednesday, February 25th. Citigroup raised their price objective on shares of Home Depot from $407.00 to $450.00 and gave the company a "buy" rating in a report on Thursday, February 12th. Finally, Bank of America assumed coverage on shares of Home Depot in a report on Tuesday. They issued a "buy" rating and a $374.00 price objective on the stock. Twenty analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $412.24.

Insider Activity at Home Depot

In related news, CFO Richard V. Mcphail sold 2,550 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $368.89, for a total value of $940,669.50. Following the transaction, the chief financial officer directly owned 44,566 shares of the company's stock, valued at $16,439,951.74. This trade represents a 5.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.08% of the stock is owned by company insiders.

About Home Depot

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.

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