New Century Financial Group LLC Sells 1,421 Shares of The Home Depot, Inc. $HD

Key Points

• New Century Financial Group LLC has reduced its stake in The Home Depot by 68.1%, now holding only 665 shares valued at $244,000.
• Multiple institutional investors have increased their holdings in Home Depot, with Vanguard Group Inc. acquiring an additional 720,447 shares, bringing their total ownership to over $35 billion.
• The recent quarterly earnings report showed Home Depot's EPS at $4.68, missing estimates, while the company also declared a quarterly dividend of $2.30 per share.

New Century Financial Group LLC lowered its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 68.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 665 shares of the home improvement retailer's stock after selling 1,421 shares during the period. New Century Financial Group LLC's holdings in Home Depot were worth $244,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Home Depot by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 96,484,199 shares of the home improvement retailer's stock valued at $35,360,494,000 after purchasing an additional 720,447 shares in the last quarter. Asset Planning Services Inc. LA ADV lifted its holdings in shares of Home Depot by 99,400.7% during the 1st quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock valued at $6,954,431,000 after purchasing an additional 18,956,701 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Home Depot by 6.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 14,415,278 shares of the home improvement retailer's stock valued at $5,282,398,000 after purchasing an additional 891,326 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Home Depot by 19.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,253,292 shares of the home improvement retailer's stock valued at $3,391,240,000 after purchasing an additional 1,494,261 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Home Depot by 5.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,949,404 shares of the home improvement retailer's stock valued at $3,279,867,000 after purchasing an additional 477,192 shares in the last quarter. Institutional investors own 70.86% of the company's stock.

Insider Activity at Home Depot

In other news, CFO Richard V. Mcphail sold 3,369 shares of the company's stock in a transaction that occurred on 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 sale, the chief financial officer owned 45,455 shares in the company, valued at $18,348,365.30. This represents a 6.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Angie Brown sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $404.07, for a total value of $404,070.00. Following the sale, the executive vice president owned 3,837 shares in the company, valued at approximately $1,550,416.59. This represents a 20.67% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,835 shares of company stock worth $19,623,432. Insiders own 0.10% of the company's stock.

Home Depot Trading Down 0.0%

NYSE HD opened at $394.88 on Friday. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The stock has a market capitalization of $393.06 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 3.75 and a beta of 1.00. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15. The stock's 50 day moving average price is $402.63 and its two-hundred day moving average price is $376.21.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings data on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.69 by ($0.01). Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The company had revenue of $45.28 billion for the quarter, compared to the consensus estimate of $45.43 billion. During the same quarter in the prior year, the company earned $4.60 EPS. The company's revenue for the quarter was up 4.9% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were paid a dividend of $2.30 per share. The ex-dividend date was Thursday, September 4th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.3%. Home Depot's dividend payout ratio is currently 62.50%.

Analysts Set New Price Targets

Several research firms have recently weighed in on HD. Robert W. Baird lifted their price objective on Home Depot from $425.00 to $450.00 and gave the company an "outperform" rating in a report on Wednesday, August 20th. Morgan Stanley lifted their price objective on Home Depot from $415.00 to $430.00 and gave the company an "overweight" rating in a report on Wednesday, August 20th. Wells Fargo & Company boosted their target price on Home Depot from $420.00 to $450.00 and gave the company an "overweight" rating in a research note on Wednesday, August 20th. 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. Finally, Telsey Advisory Group restated an "outperform" rating and issued a $455.00 target price on shares of Home Depot in a research note on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Home Depot presently has an average rating of "Moderate Buy" and a consensus price target of $436.40.

Home Depot Company 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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