Pittenger & Anderson Inc. Sells 3,808 Shares of The Home Depot, Inc. $HD

Key Points

• Pittenger & Anderson Inc. reduced its stake in The Home Depot by 8.7% during the second quarter, selling 3,808 shares and holding 39,944 shares worth approximately $14.65 million at the end of the quarter.
• Insider trading saw notable activity, with EVP Teresa Wynn Roseborough and CEO Edward P. Decker selling shares amounting to $2.27 million and $13.07 million, respectively, leading to significant decreases in their positions.
• Home Depot reported quarterly earnings with an EPS of $4.68, slightly missing expectations, but its revenue of $45.28 billion showed a year-over-year increase of 4.9%.

Pittenger & Anderson Inc. trimmed its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 8.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 39,944 shares of the home improvement retailer's stock after selling 3,808 shares during the quarter. Pittenger & Anderson Inc.'s holdings in Home Depot were worth $14,645,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Mainstay Capital Management LLC ADV bought a new position in shares of Home Depot during the 2nd quarter valued at approximately $263,000. WealthPlan Investment Management LLC bought a new stake in Home Depot during the 2nd quarter worth approximately $1,149,000. Tower View Wealth Management LLC lifted its holdings in Home Depot by 4.3% during the second quarter. Tower View Wealth Management LLC now owns 16,196 shares of the home improvement retailer's stock valued at $5,938,000 after purchasing an additional 671 shares in the last quarter. Ransom Advisory Ltd bought a new position in shares of Home Depot in the first quarter worth approximately $3,851,000. Finally, Shell Asset Management Co. increased its stake in shares of Home Depot by 45.2% in the second quarter. Shell Asset Management Co. now owns 48,175 shares of the home improvement retailer's stock worth $17,663,000 after purchasing an additional 15,002 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 5,483 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $413.23, for a total value of $2,265,740.09. Following the sale, the executive vice president directly owned 16,057 shares in the company, valued at $6,635,234.11. The trade was a 25.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Edward P. Decker sold 32,897 shares of the stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the completion of the transaction, the chief executive officer directly owned 122,425 shares of the company's stock, valued at approximately $48,629,658.50. The trade was a 21.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,835 shares of company stock valued at $19,623,432 over the last quarter. 0.10% of the stock is currently owned by insiders.

Home Depot Trading Down 0.8%

Shares of Home Depot stock opened at $388.91 on Tuesday. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31. The business has a 50-day moving average price of $403.72 and a 200-day moving average price of $378.37. The firm has a market cap of $387.12 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 3.72 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 EPS 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 net margin of 8.86% and a return on equity of 193.99%. Home Depot's quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $4.60 earnings per share. 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 EPS for the current fiscal year.

Home Depot Announces Dividend

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

Analyst Ratings Changes

HD has been the topic of a number of analyst reports. Stifel Nicolaus lifted their target price on shares of Home Depot from $425.00 to $432.00 and gave the company a "buy" rating in a research note on Monday, August 18th. Wolfe Research initiated coverage on Home Depot in a report on Thursday, September 18th. They set an "outperform" rating and a $497.00 price target on the stock. Mizuho boosted their price objective on Home Depot from $435.00 to $450.00 and gave the company an "outperform" rating in a research report on Wednesday, August 20th. JPMorgan Chase & Co. cut their target price on Home Depot from $460.00 to $452.00 and set an "overweight" rating for the company in a research report on Wednesday, August 20th. Finally, DA Davidson reissued a "buy" rating and set a $450.00 target price on shares of Home Depot in a research note on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $435.42.

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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