Strs Ohio Invests $134.11 Million in The Home Depot, Inc. $HD

Key Points

• Strs Ohio has invested approximately $134.11 million in The Home Depot, acquiring 365,943 shares, making it the 23rd largest position in their portfolio.
• The company's CEO, Edward P. Decker, recently sold 32,897 shares, reducing his holdings by 21.18%.
• The Home Depot announced a quarterly dividend of $2.30 per share, which represents an annualized yield of 2.2% and a payout ratio of 62.50%.

Strs Ohio bought a new position in The Home Depot, Inc. (NYSE:HD - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 365,943 shares of the home improvement retailer's stock, valued at approximately $134,114,000. Home Depot comprises about 0.6% of Strs Ohio's portfolio, making the stock its 23rd largest position.

A number of other institutional investors have also recently modified their holdings of HD. Brighton Jones LLC lifted its holdings in shares of Home Depot by 36.5% during the fourth quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer's stock valued at $10,471,000 after purchasing an additional 7,203 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its holdings in shares of Home Depot by 4.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 12,204 shares of the home improvement retailer's stock valued at $4,747,000 after purchasing an additional 565 shares in the last quarter. Lighthouse Investment Partners LLC bought a new position in shares of Home Depot during the fourth quarter valued at $2,549,000. Northeast Financial Consultants Inc lifted its holdings in shares of Home Depot by 0.9% during the fourth quarter. Northeast Financial Consultants Inc now owns 23,305 shares of the home improvement retailer's stock valued at $9,065,000 after purchasing an additional 208 shares in the last quarter. Finally, NorthRock Partners LLC lifted its holdings in shares of Home Depot by 149.6% during the fourth quarter. NorthRock Partners LLC now owns 16,274 shares of the home improvement retailer's stock valued at $6,330,000 after purchasing an additional 9,753 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 related news, CEO Edward P. Decker sold 32,897 shares of the company's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the transaction, the chief executive officer directly owned 122,425 shares of the company's stock, valued at $48,629,658.50. This represents a 21.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP William D. Bastek sold 3,783 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were 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 in the company, valued at $9,941,924.05. This represents a 13.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,532 shares of company stock worth $18,648,987 over the last ninety days. Corporate insiders own 0.10% of the company's stock.

Home Depot Trading Down 0.4%

HD opened at $413.50 on Thursday. The firm has a market cap of $411.59 billion, a price-to-earnings ratio of 28.09, a PEG ratio of 3.94 and a beta of 1.00. The company has a current ratio of 1.15, a quick ratio of 0.34 and a debt-to-equity ratio of 4.31. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37. The stock has a fifty day moving average price of $387.95 and a 200-day moving average price of $371.97.

Home Depot (NYSE:HD - Get Free Report) last announced its earnings results 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). Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The business had revenue of $45.28 billion for the quarter, compared to analyst estimates of $45.43 billion. During the same period in the prior year, the company earned $4.60 earnings per share. The company's quarterly revenue was up 4.9% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, equities research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be given a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, September 4th. Home Depot's dividend payout ratio is currently 62.50%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Royal Bank Of Canada lowered their target price on Home Depot from $424.00 to $399.00 and set a "sector perform" rating on the stock in a report on Thursday, May 15th. Wells Fargo & Company increased their target price on Home Depot from $420.00 to $450.00 and gave the company an "overweight" rating in a report on Wednesday, August 20th. Stifel Nicolaus raised their price objective on Home Depot from $425.00 to $432.00 and gave the stock a "buy" rating in a research note on Monday, August 18th. Jefferies Financial Group cut their target price on Home Depot from $461.00 to $456.00 in a research report on Tuesday, May 20th. Finally, Robert W. Baird raised their price target on Home Depot from $425.00 to $450.00 and gave the company an "outperform" rating in a report on Wednesday, August 20th. 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. Based on data from MarketBeat, Home Depot presently has a consensus rating of "Moderate Buy" and an average target price 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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