Silicon Valley Capital Partners Grows Stake in The Home Depot, Inc. $HD

Key Points

• Silicon Valley Capital Partners increased its stake in The Home Depot by 38.3% during the first quarter, owning 32,812 shares valued at approximately $11.8 million.
• Several institutional investors significantly boosted their holdings in Home Depot, including Asset Planning Services and GAMMA Investing, indicating strong institutional interest in the company.
• Home Depot reported lower-than-expected quarterly earnings of $4.68 per share, missing estimates by $0.01, despite a year-over-year revenue increase of 4.9% to $45.28 billion.

Silicon Valley Capital Partners boosted its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 38.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 32,812 shares of the home improvement retailer's stock after buying an additional 9,094 shares during the period. Home Depot makes up about 1.5% of Silicon Valley Capital Partners' holdings, making the stock its 19th largest holding. Silicon Valley Capital Partners' holdings in Home Depot were worth $11,752,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Asset Planning Services Inc. LA ADV boosted its position in shares of Home Depot by 99,400.7% during the 1st quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock valued at $6,954,431,000 after acquiring an additional 18,956,701 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Home Depot by 39,194.1% in the 1st quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock worth $37,517,230,000 after buying an additional 10,210,851 shares during the last quarter. Nuveen LLC purchased a new position in shares of Home Depot during the first quarter valued at about $2,076,592,000. Price T Rowe Associates Inc. MD grew its stake in Home Depot by 19.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,253,292 shares of the home improvement retailer's stock worth $3,391,240,000 after purchasing an additional 1,494,261 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Home Depot by 6.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 14,415,278 shares of the home improvement retailer's stock valued at $5,282,398,000 after purchasing an additional 891,326 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Home Depot

In other news, EVP William D. Bastek sold 3,783 shares of the stock in a transaction dated 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 directly owned 24,235 shares of the company's stock, valued at approximately $9,941,924.05. This represents a 13.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard V. Mcphail sold 3,369 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $403.66, for a total transaction of $1,359,930.54. Following the transaction, the chief financial officer owned 45,455 shares of the company's stock, valued at $18,348,365.30. This represents a 6.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,532 shares of company stock valued at $18,648,987. Company insiders own 0.10% of the company's stock.

Home Depot Price Performance

NYSE:HD opened at $413.50 on Thursday. The business's 50-day simple moving average is $387.95 and its two-hundred day simple moving average is $371.97. The stock has a market cap of $411.59 billion, a PE ratio of 28.09, a P/E/G ratio of 3.94 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 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 earnings per share (EPS) for the quarter, missing the consensus estimate 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%.The firm's revenue was up 4.9% on a year-over-year basis. 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. As a group, analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be issued a $2.30 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.2%. Home Depot's dividend payout ratio (DPR) is currently 62.50%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wells Fargo & Company upped their price objective on Home Depot from $420.00 to $450.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. DA Davidson reiterated a "buy" rating and issued a $450.00 price objective on shares of Home Depot in a report on Tuesday, August 19th. Gordon Haskett upped their target price on shares of Home Depot from $350.00 to $360.00 in a research note on Tuesday, May 20th. Morgan Stanley boosted their price objective on shares of Home Depot from $415.00 to $430.00 and gave the company an "overweight" rating in a report on Wednesday, August 20th. Finally, TD Securities downgraded shares of Home Depot to a "buy" rating in a research report on Monday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $432.52.

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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