Louisiana State Employees Retirement System Decreases Stock Holdings in The Home Depot, Inc. $HD

Louisiana State Employees Retirement System reduced its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 1.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,400 shares of the home improvement retailer's stock after selling 1,000 shares during the quarter. Louisiana State Employees Retirement System's holdings in Home Depot were worth $19,212,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Legend Financial Advisors Inc. purchased a new position in shares of Home Depot in the second quarter valued at $28,000. Abound Financial LLC purchased a new position in shares of Home Depot in the first quarter valued at $31,000. Iron Horse Wealth Management LLC boosted its stake in shares of Home Depot by 86.8% in the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock valued at $36,000 after purchasing an additional 46 shares during the period. Global X Japan Co. Ltd. purchased a new position in shares of Home Depot in the second quarter valued at $40,000. Finally, Compass Financial Services Inc purchased a new position in shares of Home Depot in the first quarter valued at $41,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Stock Down 0.6%

Shares of NYSE:HD opened at $386.84 on Wednesday. The stock has a market capitalization of $385.06 billion, a price-to-earnings ratio of 26.28, a price-to-earnings-growth ratio of 3.69 and a beta of 1.00. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37. The company's fifty day moving average is $403.07 and its two-hundred day moving average is $376.85. 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 issued 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). The business had revenue of $45.28 billion for the quarter, compared to analyst estimates of $45.43 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The firm's revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the company posted $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Equities analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Thursday, September 4th. Home Depot's dividend payout ratio is 62.50%.

Insider Activity at Home Depot

In other Home Depot news, EVP William D. Bastek sold 2,303 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $423.12, for a total transaction of $974,445.36. Following the sale, the executive vice president directly owned 24,235 shares of the company's stock, valued at approximately $10,254,313.20. This represents a 8.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Richard V. Mcphail sold 3,369 shares of the 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 completion of the sale, the chief financial officer directly owned 45,455 shares in the company, valued at approximately $18,348,365.30. This trade represents a 6.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,835 shares of company stock valued at $19,623,432 in the last ninety days. 0.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on HD. DA Davidson restated a "buy" rating and issued a $450.00 target price on shares of Home Depot in a research note on Tuesday, August 19th. Wells Fargo & Company increased their price objective on shares of Home Depot from $420.00 to $450.00 and gave the company an "overweight" rating in a research note on Wednesday, August 20th. Wolfe Research assumed coverage on shares of Home Depot in a research note on Thursday, September 18th. They set an "outperform" rating and a $497.00 price objective on the stock. Mizuho increased their price objective on shares of Home Depot from $435.00 to $450.00 and gave the company an "outperform" rating in a research note on Wednesday, August 20th. Finally, Stifel Nicolaus increased their price objective on shares of Home Depot from $425.00 to $432.00 and gave the company a "buy" rating in a research note on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $436.40.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.