Praxis Investment Management Inc. Has $12.97 Million Stake in The Home Depot, Inc. $HD

Key Points

• Praxis Investment Management Inc. reduced its stake in The Home Depot by 2.8%, holding 35,378 shares valued at approximately $12.97 million as of the end of the second quarter.
• Home Depot reported Q2 earnings of $4.68 EPS, missing expectations by $0.01 and generating revenue of $45.28 billion, which was slightly below analyst estimates.
• The company recently declared a quarterly dividend of $2.30 per share, resulting in an annualized yield of 2.4%, with a dividend payout ratio of 62.50%.

Praxis Investment Management Inc. trimmed its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 2.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,378 shares of the home improvement retailer's stock after selling 1,020 shares during the quarter. Home Depot comprises about 0.8% of Praxis Investment Management Inc.'s portfolio, making the stock its 20th biggest position. Praxis Investment Management Inc.'s holdings in Home Depot were worth $12,971,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HD. Mainstay Capital Management LLC ADV acquired a new position in Home Depot in the second quarter valued at approximately $263,000. Tower View Wealth Management LLC lifted its position in shares of Home Depot by 4.3% during the 2nd quarter. Tower View Wealth Management LLC now owns 16,196 shares of the home improvement retailer's stock valued at $5,938,000 after acquiring an additional 671 shares during the period. Ransom Advisory Ltd acquired a new position in shares of Home Depot during the 1st quarter valued at $3,851,000. Shell Asset Management Co. lifted its position in shares of Home Depot by 45.2% during the 2nd quarter. Shell Asset Management Co. now owns 48,175 shares of the home improvement retailer's stock valued at $17,663,000 after acquiring an additional 15,002 shares during the period. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of Home Depot during the 1st quarter valued at $406,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Stock Performance

Shares of Home Depot stock opened at $387.40 on Friday. The company has a market cap of $385.61 billion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 3.68 and a beta of 1.00. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The business has a 50 day moving average price of $403.62 and a 200-day moving average price of $377.73. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $45.28 billion during the quarter, compared to analysts' expectations 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 for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the company earned $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Equities analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on HD shares. Telsey Advisory Group reiterated an "outperform" rating and set a $455.00 price objective on shares of Home Depot in a report on Tuesday, August 19th. Truist Financial upped their price target on Home Depot from $417.00 to $433.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Home Depot in a research note on Wednesday, October 8th. Oppenheimer upped their target price on Home Depot from $400.00 to $420.00 and gave the stock a "market perform" rating in a research report on Thursday, September 25th. Finally, DA Davidson reaffirmed a "buy" rating and set a $450.00 target price on shares of Home Depot in a research report on Tuesday, August 19th. 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, the company has a consensus rating of "Moderate Buy" and a consensus price target of $435.42.

Insider Buying and Selling

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,483 shares of the 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 completion of the sale, 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 transaction was disclosed in a filing with the SEC, which is accessible through 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 sale, the chief executive officer owned 122,425 shares of the company's stock, valued at approximately $48,629,658.50. This trade represents a 21.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,835 shares of company stock valued at $19,623,432 over the last 90 days. 0.10% of the stock is currently owned by company insiders.

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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