QRG Capital Management Inc. Has $59.50 Million Stock Holdings in The Home Depot, Inc. $HD

Key Points

• QRG Capital Management Inc. increased its stake in The Home Depot by 7.3%, now holding approximately $59.5 million worth of shares, making it one of their top 28 holdings.
• Home Depot reported quarterly earnings of $4.68 per share, slightly missing analysts' expectations, with revenue increasing by 4.9% year-over-year but still below projections.
• The company's quarterly dividend of $2.30, reflecting an annual yield of 2.3%, was recently paid to shareholders, with a payout ratio of 62.50%.

QRG Capital Management Inc. grew its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 7.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 162,279 shares of the home improvement retailer's stock after purchasing an additional 11,107 shares during the quarter. Home Depot makes up 0.5% of QRG Capital Management Inc.'s holdings, making the stock its 28th biggest holding. QRG Capital Management Inc.'s holdings in Home Depot were worth $59,498,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Legend Financial Advisors Inc. bought a new stake in Home Depot in the second quarter worth approximately $28,000. Abound Financial LLC bought a new stake in Home Depot in the first quarter worth approximately $31,000. Iron Horse Wealth Management LLC increased its holdings 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 worth $36,000 after purchasing an additional 46 shares in the last quarter. Global X Japan Co. Ltd. bought a new stake in Home Depot in the second quarter worth approximately $40,000. Finally, Compass Financial Services Inc bought a new stake in Home Depot in the first quarter worth approximately $41,000. 70.86% of the stock is currently owned by institutional investors.

Home Depot Price Performance

HD opened at $394.88 on Friday. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.34. The company has a market capitalization of $393.06 billion, a price-to-earnings ratio of 26.83, a P/E/G ratio of 3.75 and a beta of 1.00. The firm's fifty day moving average price is $402.63 and its two-hundred day moving average price is $376.21. 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 posted its quarterly earnings data on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share (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 analysts' expectations of $45.43 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.Home Depot's revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were given a $2.30 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $9.20 annualized dividend and a yield of 2.3%. Home Depot's payout ratio is currently 62.50%.

Insiders Place Their Bets

In other Home Depot news, EVP William D. Bastek sold 3,783 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $410.23, for a total value of $1,551,900.09. Following the transaction, the executive vice president owned 24,235 shares of the company's stock, valued at approximately $9,941,924.05. The trade was a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Richard V. Mcphail sold 3,369 shares of the business's stock in a transaction 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 completion of the transaction, the chief financial officer directly owned 45,455 shares in the company, valued at approximately $18,348,365.30. This represents a 6.90% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,835 shares of company stock valued at $19,623,432. 0.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

HD has been the subject of several recent research reports. Telsey Advisory Group restated an "outperform" rating and set a $455.00 price objective on shares of Home Depot in a report on Tuesday, August 19th. Oppenheimer boosted their price objective on Home Depot from $400.00 to $420.00 and gave the company a "market perform" rating in a report on Thursday, September 25th. Wolfe Research initiated coverage on Home Depot in a report on Thursday, September 18th. They set an "outperform" rating and a $497.00 price objective for the company. Wells Fargo & Company boosted their price objective on Home Depot from $420.00 to $450.00 and gave the company an "overweight" rating in a report on Wednesday, August 20th. Finally, Stifel Nicolaus boosted their price objective on Home Depot from $425.00 to $432.00 and gave the company a "buy" rating in a report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $436.40.

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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