The Home Depot, Inc. $HD Shares Sold by Highland Capital Management LLC

Key Points

• Highland Capital Management LLC reduced its holdings in Home Depot by 18.8%, owning 13,423 shares worth approximately $4.92 million after selling 3,105 shares in the second quarter.
• Several institutional investors made significant adjustments to their positions, including a massive 99,400.7% increase by Asset Planning Services Inc. LA ADV, resulting in ownership of nearly 19 million shares valued at around $6.95 billion.
• Home Depot reported earnings of $4.68 per share for the latest quarter, slightly missing expectations, while also announcing a quarterly dividend of $2.30, reflecting a yield of 2.3%.

Highland Capital Management LLC lessened its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 18.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,423 shares of the home improvement retailer's stock after selling 3,105 shares during the quarter. Highland Capital Management LLC's holdings in Home Depot were worth $4,922,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Asset Planning Services Inc. LA ADV increased its stake in 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 worth $6,954,431,000 after buying an additional 18,956,701 shares during the period. Nuveen LLC purchased a new stake in Home Depot during the 1st quarter worth approximately $2,076,592,000. Price T Rowe Associates Inc. MD increased its stake in Home Depot by 19.3% during the 1st 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 buying an additional 1,494,261 shares during the period. Kingstone Capital Partners Texas LLC purchased a new stake in Home Depot during the 2nd quarter worth approximately $418,486,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Home Depot by 6.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 14,415,278 shares of the home improvement retailer's stock worth $5,282,398,000 after buying an additional 891,326 shares during the period. Hedge funds and other institutional investors own 70.86% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on HD shares. Truist Financial boosted their price objective on Home Depot from $417.00 to $433.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. Wolfe Research started coverage on Home Depot in a research report on Thursday, September 18th. They set an "outperform" rating and a $497.00 price objective for the company. Morgan Stanley boosted their price objective on Home Depot from $415.00 to $430.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. Wells Fargo & Company boosted their price objective on Home Depot from $420.00 to $450.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Home Depot in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $436.40.

Home Depot Price Performance

Home Depot stock opened at $394.88 on Friday. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month 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. The business has a 50 day simple moving average of $402.63 and a 200-day simple moving average of $376.37. The stock has a market capitalization of $393.06 billion, a PE ratio of 26.83, a price-to-earnings-growth ratio of 3.75 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 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 company had revenue of $45.28 billion for the quarter, compared to analysts' expectations of $45.43 billion. During the same quarter last year, the company earned $4.60 EPS. Home Depot's revenue for the quarter 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. Equities analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current 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 was Thursday, September 4th. This represents a $9.20 annualized dividend and a yield of 2.3%. Home Depot's dividend payout ratio is presently 62.50%.

Insider Transactions at Home Depot

In other Home Depot news, EVP Angie Brown sold 1,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $404.07, for a total value of $404,070.00. Following the completion of the transaction, the executive vice president owned 3,837 shares in the company, valued at approximately $1,550,416.59. This represents a 20.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Richard V. Mcphail sold 3,369 shares of the 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 owned 45,455 shares of the company's stock, valued at $18,348,365.30. The trade was a 6.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,835 shares of company stock valued at $19,623,432 in the last three months. Insiders own 0.10% of the company's stock.

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.

Want to see what other hedge funds are holding HD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Home Depot, Inc. (NYSE:HD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.