Rockland Trust Co. Sells 1,984 Shares of The Home Depot, Inc. $HD

Key Points

• Rockland Trust Co. reduced its holdings in The Home Depot, Inc. by 6.0% during the second quarter, now owning 30,888 shares valued at approximately $11.3 million.
• Home Depot reported a Q2 EPS of $4.68, missing the consensus estimate by $0.01, with revenues reaching $45.28 billion during the quarter.
• The company declared a quarterly dividend of $2.30 per share, reflecting an annualized yield of 2.2% with a payout ratio of 62.50%.

Rockland Trust Co. cut its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 6.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,888 shares of the home improvement retailer's stock after selling 1,984 shares during the period. Rockland Trust Co.'s holdings in Home Depot were worth $11,325,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in HD. Abound Financial LLC purchased a new stake in shares of Home Depot during the 1st quarter worth approximately $31,000. Iron Horse Wealth Management LLC increased its stake in shares of Home Depot by 86.8% during the 1st 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 during the last quarter. Compass Financial Services Inc purchased a new stake in shares of Home Depot during the 1st quarter worth approximately $41,000. Livelsberger Financial Advisory purchased a new stake in shares of Home Depot during the 2nd quarter worth approximately $41,000. Finally, Quest 10 Wealth Builders Inc. increased its stake in shares of Home Depot by 35.7% during the 1st 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 during the last quarter. 70.86% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Angie Brown sold 1,000 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total transaction of $404,070.00. Following the completion of the sale, the executive vice president directly 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 document filed with the SEC, which is accessible through this hyperlink. Also, EVP William D. Bastek sold 3,783 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $410.23, for a total transaction of $1,551,900.09. Following the sale, the executive vice president owned 24,235 shares of the company's stock, valued at approximately $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. 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 corporate insiders.

Home Depot Trading Down 0.7%

Home Depot stock traded down $2.83 during mid-day trading on Monday, hitting $412.86. The company's stock had a trading volume of 2,655,518 shares, compared to its average volume of 3,792,485. 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 stock has a market cap of $410.96 billion, a price-to-earnings ratio of 28.05, a price-to-earnings-growth ratio of 3.94 and a beta of 1.00. The business has a 50 day moving average price of $395.79 and a 200-day moving average price of $373.58. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly 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 business had revenue of $45.28 billion during the quarter, compared to the consensus estimate of $45.43 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The business's revenue for the quarter was up 4.9% on a year-over-year basis. During the same period 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. As a group, analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were paid a $2.30 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $9.20 annualized dividend and a yield of 2.2%. Home Depot's payout ratio is currently 62.50%.

Analyst Ratings Changes

A number of research analysts recently weighed in on HD shares. Wells Fargo & Company lifted their price objective on shares of Home Depot from $420.00 to $450.00 and gave the company an "overweight" rating in a research note on Wednesday, August 20th. TD Securities lowered shares of Home Depot to a "buy" rating in a research note on Monday, June 2nd. Truist Financial lifted their price objective on shares of Home Depot from $417.00 to $433.00 and gave the company a "buy" rating in a research note on Wednesday, August 13th. Mizuho lifted their price objective on shares of Home Depot from $435.00 to $450.00 and gave the company an "outperform" rating in a research note on Wednesday, August 20th. Finally, Telsey Advisory Group reiterated an "outperform" rating and issued a $455.00 price objective on shares of Home Depot in a research note on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Home Depot currently has an average rating of "Moderate Buy" and an average price target of $435.00.

Home Depot Company 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.