NewEdge Advisors LLC Buys 10,048 Shares of The Home Depot, Inc. $HD

Key Points

• NewEdge Advisors LLC increased its stake in The Home Depot, Inc. by 5.1%, acquiring an additional 10,048 shares, bringing their total ownership to 208,773 shares, valued at $76.5 million.
• Several institutional investors have also made moves in Home Depot, with a significant 70.86% of the company's stock now owned by these investors.
• The Home Depot reported a quarterly earnings miss with $4.68 EPS, falling short of analyst estimates by one cent.

NewEdge Advisors LLC lifted its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 5.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 208,773 shares of the home improvement retailer's stock after buying an additional 10,048 shares during the period. NewEdge Advisors LLC's holdings in Home Depot were worth $76,513,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of HD. Abound Financial LLC acquired a new position in shares of Home Depot during the 1st quarter worth approximately $31,000. Iron Horse Wealth Management LLC increased its position in shares of Home Depot by 86.8% during 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 during the last quarter. Quest 10 Wealth Builders Inc. increased its position in shares of Home Depot by 35.7% during 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 during the last quarter. Spurstone Advisory Services LLC acquired a new position in shares of Home Depot during the 4th quarter worth approximately $45,000. Finally, Vega Investment Solutions acquired a new position in shares of Home Depot during the 4th quarter worth approximately $46,000. 70.86% of the stock is currently owned by institutional investors.

Insider Activity at Home Depot

In other Home Depot news, CEO Edward P. Decker sold 32,897 shares of the firm's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the transaction, the chief executive officer owned 122,425 shares in the company, valued at $48,629,658.50. This trade represents a 21.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $413.23, for a total value of $2,265,740.09. Following the transaction, the executive vice president owned 16,057 shares in the company, valued at approximately $6,635,234.11. This trade represents a 25.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,532 shares of company stock valued at $18,648,987 in the last 90 days. Corporate insiders own 0.10% of the company's stock.

Home Depot Stock Performance

Shares of NYSE HD traded up $7.01 during trading hours on Friday, reaching $418.70. 5,854,063 shares of the stock were exchanged, compared to its average volume of 3,709,986. The firm has a market capitalization of $416.77 billion, a price-to-earnings ratio of 28.44, a P/E/G ratio of 3.97 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 52 week low of $326.31 and a 52 week high of $439.37. The stock's fifty day simple moving average is $385.21 and its 200 day simple moving average is $371.13.

Home Depot (NYSE:HD - Get Free Report) last announced 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 firm had revenue of $45.28 billion for the quarter, compared to the consensus estimate of $45.43 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.Home Depot's revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Sell-side analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be paid a dividend of $2.30 per share. The ex-dividend date is Thursday, September 4th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.2%. Home Depot's dividend payout ratio (DPR) is 62.50%.

Analyst Ratings Changes

Several research firms have weighed in on HD. Royal Bank Of Canada lowered their price target on Home Depot from $424.00 to $399.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 15th. Morgan Stanley raised their price objective on Home Depot from $415.00 to $430.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. Truist Financial raised their price objective on Home Depot from $417.00 to $433.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. Guggenheim reaffirmed a "buy" rating and issued a $450.00 price objective on shares of Home Depot in a research report on Wednesday, May 21st. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $398.00 price objective (up from $380.00) on shares of Home Depot in a research report on Wednesday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Home Depot presently has an average rating of "Moderate Buy" and an average price target of $432.52.

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.