The Home Depot, Inc. $HD Shares Bought by SteelPeak Wealth LLC

Key Points

• SteelPeak Wealth LLC increased its stake in The Home Depot by 31.9% in the second quarter, holding a total of 28,065 shares valued at approximately $10.29 million.
• Insider selling was reported with EVP William D. Bastek and CFO Richard V. Mcphail selling shares valued at $1.55 million and $1.36 million, respectively, resulting in ownership decreases of 13.50% and 6.90%.
• Home Depot reported earnings of $4.68 per share for the most recent quarter, missing analysts' expectations, while also declaring a quarterly dividend of $2.30 per share.

SteelPeak Wealth LLC grew its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 31.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,065 shares of the home improvement retailer's stock after buying an additional 6,785 shares during the quarter. SteelPeak Wealth LLC's holdings in Home Depot were worth $10,290,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tower View Wealth Management LLC grew its holdings in Home Depot by 4.3% during the second quarter. Tower View Wealth Management LLC now owns 16,196 shares of the home improvement retailer's stock worth $5,938,000 after acquiring an additional 671 shares during the period. Ransom Advisory Ltd acquired a new stake in Home Depot during the first quarter worth about $3,851,000. Financial Gravity Asset Management Inc. acquired a new stake in Home Depot during the first quarter worth about $406,000. Arbor Capital Management Inc. ADV grew its holdings in Home Depot by 4.8% during the first quarter. Arbor Capital Management Inc. ADV now owns 4,784 shares of the home improvement retailer's stock worth $1,757,000 after acquiring an additional 221 shares during the period. Finally, Focus Partners Wealth increased its stake in shares of Home Depot by 4.1% in the 1st quarter. Focus Partners Wealth now owns 423,287 shares of the home improvement retailer's stock valued at $155,131,000 after purchasing an additional 16,654 shares in the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Home Depot

In related news, EVP William D. Bastek sold 3,783 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 24,235 shares in the company, 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 legal filing with the SEC, which is accessible through this link. Also, CFO Richard V. Mcphail sold 3,369 shares of the firm'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 sale, the chief financial officer directly owned 45,455 shares of the company's stock, valued at approximately $18,348,365.30. This trade represents a 6.90% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,835 shares of company stock worth $19,623,432. 0.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on HD shares. DA Davidson reissued a "buy" rating and issued a $450.00 price objective on shares of Home Depot in a report on Tuesday, August 19th. Telsey Advisory Group reissued an "outperform" rating and issued a $455.00 price target on shares of Home Depot in a research note on Tuesday, August 19th. Mizuho boosted their price target on shares of Home Depot from $435.00 to $450.00 and gave the stock an "outperform" rating in a report on Wednesday, August 20th. Oppenheimer increased their price objective on shares of Home Depot from $400.00 to $420.00 and gave the company a "market perform" rating in a report on Thursday, September 25th. Finally, Morgan Stanley boosted their target price on shares of Home Depot from $415.00 to $430.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $436.40.

Home Depot Trading Down 1.4%

Shares of Home Depot stock opened at $389.56 on Tuesday. The stock has a market cap of $387.76 billion, a P/E ratio of 26.46, a P/E/G ratio of 3.75 and a beta of 1.00. The stock's 50 day simple moving average is $402.88 and its 200-day simple moving average is $376.78. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.34.

Home Depot (NYSE:HD - Get Free Report) last issued its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share for the quarter, missing the consensus estimate of $4.69 by ($0.01). The company had revenue of $45.28 billion for the quarter, compared to analyst estimates of $45.43 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The company's revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter 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. Analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

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

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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