Provenance Wealth Advisors LLC Buys 6,299 Shares of The Home Depot, Inc. $HD

Key Points

• Provenance Wealth Advisors increased its Home Depot stake by 520.1% in the third quarter, buying 6,299 shares and bringing its holdings to 7,510 shares, worth about $2.14 million.
• Institutional investors and hedge funds own 70.86% of Home Depot shares; meanwhile, company insiders sold 9,829 shares worth approximately $3.34 million over the past three months.
• Home Depot beat quarterly earnings and revenue estimates, with sales up 5.7% year over year. Analysts give the stock a consensus “Moderate Buy” rating and an average price target of $375.31.

Provenance Wealth Advisors LLC lifted its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 520.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,510 shares of the home improvement retailer's stock after buying an additional 6,299 shares during the quarter. Provenance Wealth Advisors LLC's holdings in Home Depot were worth $2,137,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Integras Partners LLC grew its stake in shares of Home Depot by 2.1% during the third quarter. Integras Partners LLC now owns 10,948 shares of the home improvement retailer's stock valued at $3,115,000 after acquiring an additional 227 shares in the last quarter. Associated Banc Corp purchased a new stake in shares of Home Depot during the third quarter worth about $6,149,000. Putney Financial Group LLC purchased a new stake in shares of Home Depot during the third quarter worth about $80,000. Watershed Private Wealth LLC lifted its stake in shares of Home Depot by 52.3% in the third quarter. Watershed Private Wealth LLC now owns 1,156 shares of the home improvement retailer's stock worth $329,000 after acquiring an additional 397 shares in the last quarter. Finally, Richwood Investment Advisors LLC lifted its stake in shares of Home Depot by 6.1% in the third quarter. Richwood Investment Advisors LLC now owns 4,818 shares of the home improvement retailer's stock worth $1,371,000 after acquiring an additional 279 shares in the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Kimberly Scardino sold 675 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $305.95, for a total transaction of $206,516.25. Following the sale, the chief accounting officer directly owned 8,189 shares in the company, valued at approximately $2,505,424.55. This represents a 7.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Rowe sold 710 shares of the firm's stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $336.76, for a total value of $239,099.60. Following the completion of the sale, the executive vice president directly owned 6,838 shares in the company, valued at approximately $2,302,764.88. This trade represents a 9.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 9,829 shares of company stock valued at $3,339,314 over the last three months. 0.08% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on HD shares. Weiss Ratings reissued a "hold (c)" rating on shares of Home Depot in a report on Friday, October 2nd. Guggenheim restated a "buy" rating and set a $425.00 price objective on shares of Home Depot in a report on Wednesday, August 19th. Argus reaffirmed a "buy" rating and issued a $400.00 target price on shares of Home Depot in a research report on Wednesday, August 19th. Melius Research set a $397.00 target price on Home Depot in a research report on Tuesday, October 6th. Finally, UBS Group reiterated a "buy" rating on shares of Home Depot in a research note on Thursday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $375.31.

Home Depot Price Performance

Shares of NYSE:HD opened at $333.49 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 Home Depot, Inc. has a fifty-two week low of $277.15 and a fifty-two week high of $397.63. The firm has a 50-day simple moving average of $308.48 and a 200 day simple moving average of $334.51. The company has a market cap of $332.72 billion, a PE ratio of 23.34, a P/E/G ratio of 2.43 and a beta of 0.93.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings data on Tuesday, August 18th. The home improvement retailer reported $4.92 earnings per share for the quarter, topping the consensus estimate of $4.73 by $0.19. Home Depot had a net margin of 8.41% and a return on equity of 106.42%. The firm had revenue of $47.86 billion for the quarter, compared to analyst estimates of $47.24 billion. During the same quarter in the prior year, the business earned $4.68 earnings per share. Home Depot's quarterly revenue was up 5.7% on a year-over-year basis. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 17th. Stockholders of record on Thursday, September 3rd were issued a dividend of $2.33 per share. The ex-dividend date of this dividend was Thursday, September 3rd. This represents a $9.32 annualized dividend and a dividend yield of 2.8%. Home Depot's dividend payout ratio is 65.22%.

Home Depot News Summary

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

• Positive Sentiment: Home Depot recently beat earnings expectations, supporting optimism about its ability to deliver results even in a challenging housing environment. Home Depot Stock Could Be Poised for a Turnaround
• Positive Sentiment: Coverage highlights Home Depot’s 17 consecutive years of dividend increases and its scale, which may help it remain resilient and sustain shareholder returns through a weak housing cycle. Home Depot Has Raised Its Dividend 17 Straight Years
• Neutral Sentiment: Analyst-oriented coverage says Home Depot has a record of earnings surprises and may be positioned to beat estimates again; this is a forecast, not a reported result. The company will hold its third-quarter earnings call on November 17. Will Home Depot Beat Estimates Again? Third Quarter Earnings Call Announcement
• Negative Sentiment: The stock’s weakness amid a broader-market uptick suggests investors remain cautious. Recent commentary cites a historically sluggish housing market and shares being down for the year as factors that could weigh on expectations for renovation-related spending. Home Depot Stock Falls Amid Market Uptick

About Home Depot

The Home Depot, Inc is a home improvement retailer serving do-it-yourself customers, professional contractors, and other building and maintenance professionals. The company sells a broad selection of building materials, hardware, tools, appliances, paint, plumbing and electrical supplies, flooring, lighting, lawn and garden products, and home décor.

In addition to merchandise, Home Depot offers services such as product delivery, tool and equipment rental, credit services, and installation for selected products.

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