NorthRock Partners LLC Has $6.48 Million Holdings in The Home Depot, Inc. $HD

Key Points

• NorthRock Partners LLC increased its stake in The Home Depot, Inc. (NYSE:HD) by 9.2%, owning 17,663 shares worth approximately $6.48 million following their purchase of an additional 1,491 shares in the second quarter.
• Insider transactions included CFO Richard V. Mcphail and CEO Edward P. Decker selling 3,369 and 32,897 shares, respectively, leading to decreases in their ownership of the stock by 6.9% and 21.2%.
• Home Depot reported earnings of $4.68 EPS in the latest quarter, just shy of the consensus estimate of $4.69, with revenue of $45.28 billion, reflecting a 4.9% year-over-year increase.

NorthRock Partners LLC boosted its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 9.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,663 shares of the home improvement retailer's stock after purchasing an additional 1,491 shares during the quarter. NorthRock Partners LLC's holdings in Home Depot were worth $6,476,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Legend Financial Advisors Inc. acquired a new position in Home Depot in the second quarter valued at about $28,000. Abound Financial LLC acquired a new position in Home Depot in the first quarter valued at about $31,000. Iron Horse Wealth Management LLC raised its stake in Home Depot by 86.8% in the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock valued at $36,000 after purchasing an additional 46 shares in the last quarter. Global X Japan Co. Ltd. acquired a new position in Home Depot in the second quarter valued at about $40,000. Finally, GFG Capital LLC acquired a new position in Home Depot during the second quarter worth about $40,000. Institutional investors and hedge funds own 70.86% of the company's stock.

Insiders Place Their Bets

In related 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 value of $1,359,930.54. Following the sale, the chief financial officer directly owned 45,455 shares in the company, valued at $18,348,365.30. This represents a 6.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Edward P. Decker sold 32,897 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $397.22, for a total value of $13,067,346.34. Following the completion of the sale, the chief executive officer owned 122,425 shares in the company, valued at $48,629,658.50. The trade was a 21.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,835 shares of company stock valued at $19,623,432 over the last three months. Insiders own 0.10% of the company's stock.

Home Depot Stock Performance

NYSE:HD opened at $379.36 on Tuesday. The stock has a market cap of $377.61 billion, a P/E ratio of 25.77, a price-to-earnings-growth ratio of 3.57 and a beta of 1.00. The company has a current ratio of 1.15, a quick ratio of 0.34 and a debt-to-equity ratio of 4.31. The stock's 50-day moving average is $403.51 and its 200-day moving average is $377.45. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37.

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

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were issued a $2.30 dividend. The ex-dividend date was Thursday, September 4th. This represents a $9.20 annualized dividend and a yield of 2.4%. Home Depot's dividend payout ratio is presently 62.50%.

Analyst Ratings Changes

HD has been the subject of several research analyst reports. Wolfe Research initiated coverage on Home Depot in a research note on Thursday, September 18th. They set an "outperform" rating and a $497.00 target price for the company. Oppenheimer boosted their target price on Home Depot from $400.00 to $420.00 and gave the stock a "market perform" rating in a research note on Thursday, September 25th. Morgan Stanley boosted their target price on Home Depot from $415.00 to $430.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. Weiss Ratings reissued a "buy (b)" rating on shares of Home Depot in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company boosted their target price on Home Depot from $420.00 to $450.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $435.42.

About Home Depot

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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