NewEdge Wealth LLC Invests $80.35 Million in The Home Depot, Inc. $HD

Key Points

• NewEdge Wealth LLC initiated an approximately $80.35 million position in Home Depot, purchasing 227,836 shares in the second quarter. The stock now represents about 0.8% of the firm’s portfolio, while institutional investors collectively own 70.86% of HD.
• Home Depot reported quarterly revenue of $47.86 billion, up 5.7% year over year, and EPS of $4.92, exceeding analyst expectations. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $375.54.
• The company declared a quarterly dividend of $2.33 per share, equivalent to an annualized $9.32 and a 2.8% yield. However, CFO Richard McPhail sold approximately $2.1 million in company stock, reducing his holdings by 11.07%.

NewEdge Wealth LLC bought a new stake in The Home Depot, Inc. (NYSE:HD - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 227,836 shares of the home improvement retailer's stock, valued at approximately $80,353,000. Home Depot comprises approximately 0.8% of NewEdge Wealth LLC's investment portfolio, making the stock its 26th largest position.

A number of other large investors also recently made changes to their positions in the company. Curio Wealth LLC grew its position in Home Depot by 13.5% in the 4th quarter. Curio Wealth LLC now owns 218 shares of the home improvement retailer's stock worth $76,000 after purchasing an additional 26 shares in the last quarter. Canandaigua National Trust Co of Florida lifted its position in shares of Home Depot by 1.3% during the 4th quarter. Canandaigua National Trust Co of Florida now owns 2,178 shares of the home improvement retailer's stock worth $749,000 after buying an additional 27 shares in the last quarter. Moneco Advisors LLC lifted its position in shares of Home Depot by 0.3% during the 4th quarter. Moneco Advisors LLC now owns 8,743 shares of the home improvement retailer's stock worth $3,008,000 after buying an additional 27 shares in the last quarter. Noesis Capital Mangement Corp boosted its stake in shares of Home Depot by 1.5% in the 4th quarter. Noesis Capital Mangement Corp now owns 1,770 shares of the home improvement retailer's stock worth $609,000 after buying an additional 27 shares during the last quarter. Finally, Eubel Brady & Suttman Asset Management Inc. boosted its stake in shares of Home Depot by 1.3% in the 4th quarter. Eubel Brady & Suttman Asset Management Inc. now owns 2,130 shares of the home improvement retailer's stock worth $733,000 after buying an additional 27 shares during the last quarter. 70.86% of the stock is owned by institutional investors.

Home Depot Trading Up 0.2%

Shares of HD stock opened at $337.97 on Wednesday. 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 firm has a market cap of $337.00 billion, a P/E ratio of 23.65, a PEG ratio of 3.72 and a beta of 0.95. The company has a 50 day moving average of $341.04 and a 200-day moving average of $339.54. The Home Depot, Inc. has a 12-month low of $289.10 and a 12-month high of $426.75.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings data on Tuesday, August 18th. The home improvement retailer reported $4.92 EPS for the quarter, beating the consensus estimate of $4.73 by $0.19. Home Depot had a return on equity of 106.42% and a net margin of 8.41%.The business had revenue of $47.86 billion for the quarter, compared to the consensus estimate of $47.24 billion. During the same quarter in the prior year, the business earned $4.68 earnings per share. Home Depot's revenue for the quarter was up 5.7% on a year-over-year basis. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. Sell-side analysts anticipate that The Home Depot, Inc. will post 14.99 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Thursday, September 3rd will be given a dividend of $2.33 per share. This represents a $9.32 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Thursday, September 3rd. Home Depot's dividend payout ratio is currently 65.22%.

Analyst Upgrades and Downgrades

HD has been the subject of a number of research analyst reports. Evercore decreased their price target on Home Depot from $415.00 to $400.00 and set an "outperform" rating for the company in a research report on Wednesday, May 20th. Argus reissued a "buy" rating and issued a $400.00 price objective on shares of Home Depot in a research report on Wednesday, August 19th. KeyCorp restated a "sector weight" rating on shares of Home Depot in a research note on Wednesday, August 19th. Morgan Stanley decreased their target price on Home Depot from $420.00 to $400.00 and set an "overweight" rating for the company in a research report on Wednesday, May 20th. Finally, Wells Fargo & Company lifted their target price on Home Depot from $360.00 to $400.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 11th. Eighteen analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Home Depot presently has a consensus rating of "Moderate Buy" and a consensus target price of $375.54.

Insider Buying and Selling at Home Depot

In other news, CFO Richard V. Mcphail sold 5,989 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $348.40, for a total transaction of $2,086,567.60. Following the completion of the transaction, the chief financial officer owned 48,104 shares in the company, valued at approximately $16,759,433.60. This represents a 11.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.08% of the company's stock.

Key Home Depot News

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

• Positive Sentiment: Home Depot reported quarterly revenue of $47.86 billion, up 5.7% year over year and above expectations, while adjusted diluted EPS of $4.92 exceeded the $4.73 consensus estimate. The results provided support for the stock, although they did not yet indicate a broad-based recovery in home improvement. Home Depot Q2 estimates and tariff refund
• Positive Sentiment: Management commentary indicated that smaller projects are driving growth as high mortgage rates and housing affordability challenges weigh on larger purchases. This suggests customers remain active, even if demand is shifting toward lower-cost jobs. Home Depot Q2 earnings call transcript
• Positive Sentiment: Home Depot’s 17-year dividend growth streak remains an attraction for income-oriented investors who can collect dividends while waiting for housing and renovation demand to improve. Home Depot dividend streak
• Neutral Sentiment: A $685 million tariff refund contributed to the quarterly outcome, raising concerns that part of the earnings strength may be one-time rather than driven by ongoing operating improvement. Home Depot tariff refund analysis
• Neutral Sentiment: The nationwide launch of three-hour delivery expands Home Depot’s e-commerce and fulfillment capabilities, but its effect on sales and margins remains unproven. Home Depot three-hour delivery
• Neutral Sentiment: Articles highlighting HD’s long-term multibagger returns and ownership by prominent investors may reinforce the company’s appeal, but they are not immediate earnings catalysts. Home Depot long-term returns
• Negative Sentiment: Home Depot’s CFO sold approximately $2.1 million of company stock. While insider selling can reflect personal financial planning, it may weigh modestly on sentiment. Home Depot CFO stock sale

Home Depot Company Profile

The Home Depot, Inc NYSE: HD is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.

Home Depot's core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source