Maryland State Retirement & Pension System Acquires New Position in The Home Depot, Inc. $HD

Key Points

• Maryland State Retirement & Pension System acquired 61,261 Home Depot shares in the third quarter, worth approximately $17.4 million.
• Other institutional investors also increased or initiated positions; institutional investors collectively own 70.86% of Home Depot’s stock. Company insiders sold 9,829 shares worth about $3.34 million over the last quarter.
• Home Depot beat quarterly earnings expectations, reporting $4.92 per share versus analysts’ $4.73 estimate, while revenue rose 5.7% year over year. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $375.90.

Maryland State Retirement & Pension System acquired a new stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 61,261 shares of the home improvement retailer's stock, valued at approximately $17,428,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Pavion Blue Capital LLC purchased a new position in shares of Home Depot in the third quarter worth $1,169,000. NBH Bank boosted its position in Home Depot by 2.0% during the 3rd quarter. NBH Bank now owns 3,999 shares of the home improvement retailer's stock valued at $1,138,000 after buying an additional 79 shares during the period. Joel Isaacson & Co. LLC boosted its position in Home Depot by 2.6% during the 3rd quarter. Joel Isaacson & Co. LLC now owns 17,028 shares of the home improvement retailer's stock valued at $4,844,000 after buying an additional 425 shares during the period. Jacobi Capital Management LLC boosted its position in Home Depot by 2.8% during the 3rd quarter. Jacobi Capital Management LLC now owns 10,506 shares of the home improvement retailer's stock valued at $2,989,000 after buying an additional 283 shares during the period. Finally, Jefferies Financial Group Inc. boosted its position in Home Depot by 245.6% during the 3rd quarter. Jefferies Financial Group Inc. now owns 70,348 shares of the home improvement retailer's stock valued at $20,013,000 after buying an additional 49,994 shares during the period. Hedge funds and other institutional investors own 70.86% of the company's stock.

Insider Activity at Home Depot

In related news, EVP Teresa Roseborough sold 2,455 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $328.77, for a total value of $807,130.35. Following the completion of the transaction, the executive vice president directly owned 14,061 shares of the company's stock, valued at $4,622,834.97. This represents a 14.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael F. Rowe sold 710 shares of the stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $336.76, for a total transaction of $239,099.60. Following the completion of the transaction, the executive vice president directly owned 6,838 shares of the company's stock, valued at approximately $2,302,764.88. The trade was a 9.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 9,829 shares of company stock worth $3,339,314. 0.08% of the stock is currently owned by company insiders.

More Home Depot News

These are some of the HD news items that stood out recently:

• Positive Sentiment: Bank of America Securities maintained its Buy rating on HD, signaling continued confidence in the shares. Bank of America Securities Sticks to Their Buy Rating for Home Depot
• Neutral Sentiment: Bernstein raised its price target from $344 to $357 but kept a Market Perform rating, suggesting a modestly improved valuation view without a bullish change in recommendation. Bernstein price-target update
• Negative Sentiment: HD is facing technical pressure ahead of earnings, which could weigh on the shares in the near term, particularly if results or guidance disappoint. Home Depot Stock Running into Technical Pressure Before Earnings

Home Depot Stock Performance

Shares of HD stock opened at $351.36 on Thursday. The stock has a fifty day moving average of $310.98 and a 200 day moving average of $333.61. The Home Depot, Inc. has a 52 week low of $277.15 and a 52 week high of $397.63. The firm has a market capitalization of $350.55 billion, a price-to-earnings ratio of 24.59, a PEG ratio of 2.50 and a beta of 0.93. The company has a quick ratio of 0.31, a current ratio of 1.08 and a debt-to-equity ratio of 2.64.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings results on Tuesday, August 18th. The home improvement retailer reported $4.92 earnings per share for the quarter, beating the consensus estimate of $4.73 by $0.19. The business had revenue of $47.86 billion for the quarter, compared to analysts' expectations of $47.24 billion. Home Depot had a net margin of 8.41% and a return on equity of 106.42%. The firm's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.68 earnings per share. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. As a group, research analysts expect that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 17th. Stockholders of record on Thursday, September 3rd were given a $2.33 dividend. This represents a $9.32 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Thursday, September 3rd. Home Depot's dividend payout ratio (DPR) is currently 65.22%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of Home Depot from $396.00 to $400.00 and gave the stock an "overweight" rating in a report on Monday. Mizuho upped their price objective on shares of Home Depot from $385.00 to $390.00 and gave the company an "outperform" rating in a research note on Wednesday, August 19th. DA Davidson reiterated a "buy" rating and set a $377.00 target price on shares of Home Depot in a report on Wednesday, August 19th. Jefferies Financial Group reissued a "buy" rating and issued a $398.00 target price on shares of Home Depot in a research note on Tuesday, August 18th. Finally, KeyCorp restated a "sector weight" rating on shares of Home Depot in a report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Home Depot presently has a consensus rating of "Moderate Buy" and a consensus target price of $375.90.

Home Depot Company Profile

The Home Depot, Inc. is a home improvement retailer serving do-it-yourself customers, professional contractors and other businesses. The company sells building materials, tools, hardware, appliances, paint, flooring, and products for home maintenance, repair and renovation, as well as lawn and garden supplies. In addition to its retail stores and online channels, Home Depot offers services such as product delivery, equipment rental and home improvement installation. The company was founded in 1978 and is headquartered in Atlanta, Georgia.

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