The Home Depot, Inc. $HD Shares Bought by Nordea Investment Management AB

Key Points

• Nordea Investment Management AB increased its stake in Home Depot by 1.2%, now owning approximately 948,793 shares valued at $347.1 million.
• Home Depot reported quarterly earnings of $4.68 per share, missing analyst expectations, with revenue of $45.28 billion, up 4.9% from the previous year.
• The company announced a quarterly dividend of $2.30 per share, with a dividend yield of 2.4% and a payout ratio of 62.50%.

Nordea Investment Management AB boosted its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 1.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 948,793 shares of the home improvement retailer's stock after buying an additional 11,709 shares during the quarter. Nordea Investment Management AB owned 0.10% of Home Depot worth $347,125,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of HD. Client 1ST Advisory Group LLC boosted its holdings in shares of Home Depot by 1.5% in the first quarter. Client 1ST Advisory Group LLC now owns 1,878 shares of the home improvement retailer's stock valued at $688,000 after acquiring an additional 27 shares in the last quarter. Financial Insights Inc. lifted its stake in shares of Home Depot by 3.3% in the first quarter. Financial Insights Inc. now owns 880 shares of the home improvement retailer's stock valued at $323,000 after purchasing an additional 28 shares during the period. Wayfinding Financial LLC lifted its stake in shares of Home Depot by 1.2% in the first quarter. Wayfinding Financial LLC now owns 2,353 shares of the home improvement retailer's stock valued at $862,000 after purchasing an additional 28 shares during the period. Pure Portfolios Holdings LLC lifted its stake in shares of Home Depot by 4.7% in the first quarter. Pure Portfolios Holdings LLC now owns 623 shares of the home improvement retailer's stock valued at $228,000 after purchasing an additional 28 shares during the period. Finally, First Interstate Bank lifted its stake in shares of Home Depot by 0.3% in the first quarter. First Interstate Bank now owns 9,020 shares of the home improvement retailer's stock valued at $3,306,000 after purchasing an additional 28 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Home Depot

In other news, EVP William D. Bastek sold 3,783 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $410.23, for a total transaction 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. The trade was a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Edward P. Decker sold 32,897 shares of the business's stock in a transaction on 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 in the company, valued at approximately $48,629,658.50. The trade was a 21.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,835 shares of company stock valued at $19,623,432. 0.10% of the stock is owned by company insiders.

Home Depot Price Performance

HD opened at $387.40 on Friday. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37. The company has a 50 day moving average of $403.62 and a two-hundred day moving average of $377.73. The company has a market cap of $385.61 billion, a P/E ratio of 26.32, a P/E/G ratio of 3.68 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last released 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). Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The business had revenue of $45.28 billion for the quarter, compared to analysts' expectations of $45.43 billion. During the same quarter in the prior year, the firm earned $4.60 earnings per share. Home Depot's quarterly revenue was up 4.9% compared to the same quarter last year. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Mizuho lifted their target price on shares of Home Depot from $435.00 to $450.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 20th. Truist Financial lifted their target price on shares of Home Depot from $417.00 to $433.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. DA Davidson restated a "buy" rating and set a $450.00 target price on shares of Home Depot in a research report on Tuesday, August 19th. Robert W. Baird boosted their price objective on shares of Home Depot from $425.00 to $450.00 and gave the company an "outperform" rating in a research report on Wednesday, August 20th. Finally, Stifel Nicolaus boosted their target price on shares of Home Depot from $425.00 to $432.00 and gave the company a "buy" rating in a report on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $435.42.

Home Depot Profile

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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