The Home Depot, Inc. $HD Stake Cut by New England Asset Management Inc.

Key Points

• New England Asset Management Inc. reduced its stake in Home Depot by 16.6% during the first quarter, now holding 8,809 shares valued at approximately $3.23 million.
• Home Depot reported Q2 earnings of $4.68 per share, missing the consensus estimate by $0.01, while revenues from the quarter reached $45.28 billion.
• The company declared a quarterly dividend of $2.30, scheduled to be paid on September 18th, representing a 2.2% yield.

New England Asset Management Inc. decreased its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 16.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,809 shares of the home improvement retailer's stock after selling 1,755 shares during the quarter. New England Asset Management Inc.'s holdings in Home Depot were worth $3,228,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Abound Financial LLC bought a new position in shares of Home Depot in the first quarter worth $31,000. Iron Horse Wealth Management LLC grew its stake in shares of Home Depot by 86.8% in the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock worth $36,000 after purchasing an additional 46 shares in the last quarter. Quest 10 Wealth Builders Inc. grew its stake in shares of Home Depot by 35.7% in the first quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock worth $42,000 after purchasing an additional 30 shares in the last quarter. Spurstone Advisory Services LLC bought a new position in shares of Home Depot in the fourth quarter worth $45,000. Finally, Vega Investment Solutions bought a new position in shares of Home Depot in the fourth quarter worth $46,000. Institutional investors own 70.86% of the company's stock.

Home Depot Price Performance

HD stock traded up $1.25 during trading hours on Monday, hitting $420.20. 3,740,170 shares of the stock traded hands, compared to its average volume of 3,709,986. 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 one year low of $326.31 and a one year high of $439.37. The company has a market cap of $418.26 billion, a P/E ratio of 28.55, a P/E/G ratio of 3.97 and a beta of 1.00. The stock has a 50-day simple moving average of $386.27 and a 200 day simple moving average of $371.38.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share for the quarter, missing analysts' consensus estimates of $4.69 by ($0.01). Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The company had revenue of $45.28 billion during the quarter, compared to analyst estimates of $45.43 billion. During the same quarter last year, the business earned $4.60 EPS. The company'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 forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be given a $2.30 dividend. The ex-dividend date 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 62.50%.

Insiders Place Their Bets

In related news, 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 in the company, valued at $18,348,365.30. This trade represents a 6.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $413.23, for a total value of $2,265,740.09. Following the completion of the transaction, the executive vice president owned 16,057 shares of the company's stock, valued at $6,635,234.11. This trade represents a 25.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,532 shares of company stock worth $18,648,987 over the last three months. Company insiders own 0.10% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Evercore ISI set a $400.00 price target on Home Depot and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Royal Bank Of Canada decreased their target price on Home Depot from $424.00 to $399.00 and set a "sector perform" rating for the company in a research note on Thursday, May 15th. Guggenheim reaffirmed a "buy" rating and set a $450.00 target price on shares of Home Depot in a research note on Wednesday, May 21st. JPMorgan Chase & Co. decreased their target price on Home Depot from $460.00 to $452.00 and set an "overweight" rating for the company in a research note on Wednesday, August 20th. Finally, Stifel Nicolaus raised their target price on Home Depot from $425.00 to $432.00 and gave the company a "buy" rating in a research note on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $432.52.

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.