Miller Howard Investments Inc. NY Makes New $30.20 Million Investment in The Home Depot, Inc. $HD

Key Points

• Miller Howard Investments initiated a $30.20 million position in Home Depot during the third quarter by purchasing 106,152 shares. Institutional investors and hedge funds collectively own 70.86% of the company.
• Wall Street maintains a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $375.31. Recent quarterly results exceeded expectations, with $4.92 EPS and $47.86 billion in revenue.
• Home Depot pays a quarterly dividend of $2.33 per share, representing an annualized $9.32 payout and an approximately 2.9% yield. However, recent dividend growth has slowed amid concerns about housing activity, retail conditions, and free cash flow.

Miller Howard Investments Inc. NY purchased a new position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 106,152 shares of the home improvement retailer's stock, valued at approximately $30,199,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Bank of Nova Scotia acquired a new position in Home Depot during the second quarter worth about $118,723,000. AFT Forsyth & Company Inc. bought a new stake in Home Depot in the second quarter worth about $1,896,000. Field & Main Bank bought a new stake in Home Depot in the second quarter worth about $6,286,000. State Street Corp raised its position in Home Depot by 1.1% in the second quarter. State Street Corp now owns 47,175,026 shares of the home improvement retailer's stock worth $16,637,688,000 after acquiring an additional 499,168 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in Home Depot by 9.6% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 49,096 shares of the home improvement retailer's stock valued at $17,315,000 after acquiring an additional 4,292 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company's stock.

Key Stories Impacting Home Depot

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

• Positive Sentiment: Home Depot attracted approximately $62.1 million of net ETF buying, suggesting continued institutional and passive-investment demand for HD shares. However, ETF flows are a technical signal rather than evidence of improving operating fundamentals. Home Depot Sees $62.1 Million in Net ETF Buying on Thursday
• Positive Sentiment: Dividend-focused coverage emphasizes Home Depot’s 2.84% yield, more than a decade of annual increases, and a 238% payout increase over the past decade. The company’s long-term dividend record may support the stock’s appeal to income-oriented investors. Home Depot Dividend Analysis
• Neutral Sentiment: Home Depot’s digital shelf labels are intended to display delivery timing and assist employees with online-order fulfillment—not to charge different prices to different shoppers. The initiative could improve operational efficiency while limiting concerns about personalized pricing. Home Depot Digital Price Tags
• Neutral Sentiment: Recent market commentary asks whether Home Depot can navigate shifting retail conditions, while another report benchmarks its second-quarter results against home-furnishing and improvement retailers. These articles frame HD’s outlook relative to industry trends rather than announcing a new company-specific catalyst. Can Home Depot Navigate a Shifting Market? Home Improvement Retail Q2 Benchmarking
• Negative Sentiment: Dividend analyses caution that the latest increases have slowed considerably compared with Home Depot’s historical growth. Pressure on housing activity, retail operations, and free cash flow could limit future payout growth and raise questions about how comfortably the dividend can expand. Home Depot Dividend Growth Analysis

Insiders Place Their Bets

In other Home Depot news, CAO Kimberly Scardino sold 675 shares of Home Depot stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $305.95, for a total transaction of $206,516.25. Following the transaction, the chief accounting officer owned 8,189 shares of the company's stock, valued at $2,505,424.55. The trade was a 7.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Richard McPhail sold 5,989 shares of the company's stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $348.40, for a total value of $2,086,567.60. Following the completion of the transaction, the chief financial officer owned 48,104 shares in the company, valued at $16,759,433.60. This represents a 11.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 9,829 shares of company stock valued at $3,339,314. 0.08% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Guggenheim restated a "buy" rating and set a $425.00 price objective on shares of Home Depot in a research report on Wednesday, August 19th. UBS Group reiterated a "buy" rating on shares of Home Depot in a report on Thursday, September 17th. Mizuho increased their target price 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. Weiss Ratings restated a "hold (c)" rating on shares of Home Depot in a report on Friday, October 2nd. Finally, TD Cowen restated a "buy" rating on shares of Home Depot in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $375.31.

Home Depot Stock Performance

Shares of Home Depot stock opened at $319.71 on Tuesday. The stock has a market cap of $318.97 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 2.27 and a beta of 1.00. The business has a fifty day simple moving average of $310.03 and a 200-day simple moving average of $335.88. The company has a quick ratio of 0.31, a current ratio of 1.08 and a debt-to-equity ratio of 2.64. The Home Depot, Inc. has a 12 month low of $277.15 and a 12 month high of $397.63.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings results on Tuesday, August 18th. The home improvement retailer reported $4.92 earnings per share for the quarter, beating analysts' consensus estimates of $4.73 by $0.19. The business had revenue of $47.86 billion for the quarter, compared to the consensus estimate of $47.24 billion. Home Depot had a return on equity of 106.42% and a net margin of 8.41%. Home Depot'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 company posted $4.68 earnings per share. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 17th. Shareholders of record on Thursday, September 3rd were given a dividend of $2.33 per share. The ex-dividend date was Thursday, September 3rd. This represents a $9.32 dividend on an annualized basis and a yield of 2.9%. Home Depot's dividend payout ratio (DPR) is presently 65.22%.

About Home Depot

The Home Depot, Inc is a home improvement retailer serving do-it-yourself customers, professional contractors, and other building and maintenance professionals. The company sells a broad selection of building materials, hardware, tools, appliances, paint, plumbing and electrical supplies, flooring, lighting, lawn and garden products, and home décor.

In addition to merchandise, Home Depot offers services such as product delivery, tool and equipment rental, credit services, and installation for selected products.

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