The Home Depot, Inc. $HD Shares Sold by New Vernon Investment Management LLC

Key Points

• New Vernon Investment Management LLC reduced its holdings in The Home Depot, Inc. by 95.8% in the first quarter, owning only 2,500 shares after selling 56,767 shares.
• Insider sales included Teresa Wynn Roseborough, who sold 5,483 shares, and William D. Bastek, who sold 3,783 shares, indicating a notable decrease in their stock ownership.
• Home Depot plans to pay a quarterly dividend of $2.30 on September 18th, which reflects an annualized dividend yield of 2.3%.

New Vernon Investment Management LLC cut its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 95.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,500 shares of the home improvement retailer's stock after selling 56,767 shares during the quarter. Home Depot makes up approximately 1.2% of New Vernon Investment Management LLC's portfolio, making the stock its 25th largest holding. New Vernon Investment Management LLC's holdings in Home Depot were worth $916,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HD. Abound Financial LLC purchased a new position in Home Depot in the 1st quarter valued at about $31,000. Iron Horse Wealth Management LLC lifted its stake in Home Depot by 86.8% in the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock worth $36,000 after purchasing an additional 46 shares in the last quarter. Quarry LP lifted its stake in Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock worth $37,000 after purchasing an additional 66 shares in the last quarter. Quest 10 Wealth Builders Inc. lifted its stake in Home Depot by 35.7% in the 1st quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock worth $42,000 after purchasing an additional 30 shares in the last quarter. Finally, Spurstone Advisory Services LLC purchased a new position in Home Depot in the 4th quarter worth approximately $45,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Down 0.1%

Shares of NYSE:HD traded down $0.36 during trading on Tuesday, hitting $406.41. The company's stock had a trading volume of 3,328,301 shares, compared to its average volume of 3,544,990. The business has a 50 day moving average price of $381.41 and a two-hundred day moving average price of $370.83. The company has a market capitalization of $404.53 billion, a PE ratio of 27.61, a P/E/G ratio of 3.86 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 Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 EPS for the quarter, missing the consensus estimate of $4.69 by ($0.01). The business had revenue of $45.28 billion during 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 business's revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the firm earned $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be paid a $2.30 dividend. The ex-dividend date is Thursday, September 4th. This represents a $9.20 annualized dividend and a dividend yield of 2.3%. Home Depot's payout ratio is 62.50%.

Analyst Ratings Changes

A number of research firms have weighed in on HD. Jefferies Financial Group decreased their target price on shares of Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. TD Securities lowered shares of Home Depot to a "buy" rating in a research report on Monday, June 2nd. JPMorgan Chase & Co. reduced their price target on shares of Home Depot from $460.00 to $452.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 20th. Robert W. Baird lifted their price target on shares of Home Depot from $425.00 to $450.00 and gave the company an "outperform" rating in a research report on Wednesday, August 20th. Finally, Gordon Haskett lifted their price target on shares of Home Depot from $350.00 to $360.00 in a research report on Tuesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Home Depot presently has an average rating of "Moderate Buy" and an average target price of $432.52.

Insiders Place Their Bets

In other Home Depot news, EVP Angie Brown sold 1,000 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total value of $404,070.00. Following the completion of the transaction, the executive vice president owned 3,837 shares in the company, valued at $1,550,416.59. The trade was a 20.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP William D. Bastek sold 3,783 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $410.23, for a total transaction of $1,551,900.09. Following the completion of the transaction, the executive vice president owned 24,235 shares of the company's stock, valued at approximately $9,941,924.05. This trade represents a 13.50% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,532 shares of company stock valued at $18,648,987. Corporate insiders own 0.10% of the company's stock.

Home Depot 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.