The Home Depot, Inc. $HD Stock Purchased by Norris Perne & French LLP MI

Key Points

• Norris Perne & French LLP MI increased its Home Depot stake by 198.3% in the third quarter, adding 32,906 shares to hold 49,502 shares worth approximately $14.1 million. Institutional investors collectively own 70.86% of the company.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $375.93. Recent targets range from $340 to $400.
• Home Depot reported quarterly earnings of $4.92 per share and revenue of $47.86 billion, exceeding expectations, while shares opened at $319.73 and the company maintained a quarterly dividend of $2.33 per share.

Norris Perne & French LLP MI grew its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 198.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,502 shares of the home improvement retailer's stock after buying an additional 32,906 shares during the quarter. Norris Perne & French LLP MI's holdings in Home Depot were worth $14,083,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Bank of Nova Scotia acquired a new position in shares of Home Depot during the 2nd quarter valued at $118,723,000. AFT Forsyth & Company Inc. bought a new stake in shares of Home Depot in the 2nd quarter worth $1,896,000. Field & Main Bank bought a new stake in shares of Home Depot in the 2nd quarter worth $6,286,000. State Street Corp lifted its holdings in shares of Home Depot by 1.1% in the second quarter. State Street Corp now owns 47,175,026 shares of the home improvement retailer's stock valued at $16,637,688,000 after buying an additional 499,168 shares during the period. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Home Depot by 9.6% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 49,096 shares of the home improvement retailer's stock valued at $17,315,000 after buying an additional 4,292 shares during the period. 70.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on HD. Mizuho raised their target price on Home Depot from $385.00 to $390.00 and gave the company an "outperform" rating in a research note on Wednesday, August 19th. Stifel Nicolaus boosted their price target on shares of Home Depot from $320.00 to $340.00 and gave the stock a "hold" rating in a research report on Monday, August 17th. Argus reiterated a "buy" rating and issued a $400.00 price target on shares of Home Depot in a research report on Wednesday, August 19th. Jefferies Financial Group reissued a "buy" rating and issued a $398.00 price target on shares of Home Depot in a report on Tuesday, August 18th. Finally, Melius Research set a $397.00 price objective on shares of Home Depot in a research report on Tuesday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $375.93.

More Home Depot News

Here are the key news stories impacting Home Depot this week:

• Positive Sentiment: Home Depot is developing the “Orange Exchange,” a supplier initiative intended to connect the retailer with more small businesses. The effort could improve product quality, assortment and availability while supporting long-term customer demand. Home Depot's latest move is good for customers and the U.S. economy
• Positive Sentiment: Recent coverage highlights potential support from lower interest rates, which could gradually stimulate home sales, remodeling activity and larger renovation projects. Home Depot stock rebounds as rate cuts stir home-improvement demand
• Positive Sentiment: Analyst earnings and revenue estimate revisions, along with the company’s growing distribution capabilities, have renewed attention on Home Depot’s valuation. The latest quarterly results also exceeded consensus expectations, with earnings of $4.92 per share and revenue of $47.86 billion.
• Positive Sentiment: Several major institutional investors increased their Home Depot holdings during the latest reported quarter, while the median analyst price target cited by Quiver Quantitative is $375, implying potential upside from recent trading levels.
• Neutral Sentiment: The Home Depot Foundation pledged $1 billion through 2032 for veteran housing and related causes. The announcement strengthens the company’s social-impact profile but is unlikely to materially affect near-term earnings. The Home Depot Foundation Pledges $1 Billion to Veteran Causes by 2032
• Negative Sentiment: Risk-off trading, higher oil prices and persistently elevated mortgage rates are weighing on housing activity and economically sensitive retailers. Soft home sales and affordability concerns could delay big-ticket renovation demand.
• Negative Sentiment: Reported insider activity showed four sales and no purchases over the past six months, a potentially cautious signal, although the transactions do not necessarily indicate a change in the company’s fundamentals.

Home Depot Trading Down 2.4%

Shares of HD opened at $319.73 on Friday. The business's 50-day moving average price is $309.69 and its 200 day moving average price is $323.89. The stock has a market capitalization of $318.99 billion, a P/E ratio of 22.37, a P/E/G ratio of 2.27 and a beta of 1.00. The Home Depot, Inc. has a 1-year low of $277.15 and a 1-year high of $397.63. The company has a current ratio of 1.08, a quick ratio of 0.31 and a debt-to-equity ratio of 2.64.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings data on Tuesday, August 18th. The home improvement retailer reported $4.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.73 by $0.19. Home Depot had a return on equity of 106.42% and a net margin of 8.41%. The firm had revenue of $47.86 billion for the quarter, compared to the consensus estimate of $47.24 billion. During the same quarter in the previous year, the company earned $4.68 EPS. The business's revenue for the quarter was up 5.7% compared to the same quarter last year. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. Analysts expect that The Home Depot, Inc. will post 15.01 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 17th. Stockholders of record on Thursday, September 3rd were given a $2.33 dividend. This represents a $9.32 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Thursday, September 3rd. Home Depot's dividend payout ratio (DPR) is 65.22%.

Insider Activity

In related news, EVP Michael F. Rowe sold 710 shares of the firm's stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $336.76, for a total value of $239,099.60. Following the completion of the transaction, the executive vice president owned 6,838 shares of the company's stock, valued at approximately $2,302,764.88. This trade represents a 9.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Kimberly R. Scardino sold 675 shares of Home Depot stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $305.95, for a total transaction of $206,516.25. Following the transaction, the chief accounting officer owned 8,189 shares in the company, valued at approximately $2,505,424.55. The trade was a 7.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 9,829 shares of company stock worth $3,339,314 over the last three months. 0.08% of the stock is owned by insiders.

About Home Depot

The Home Depot, Inc is a home improvement retailer serving do-it-yourself customers, professional contractors, and other building and maintenance professionals. The company sells a broad selection of building materials, hardware, tools, appliances, paint, plumbing and electrical supplies, flooring, lighting, lawn and garden products, and home décor.

In addition to merchandise, Home Depot offers services such as product delivery, tool and equipment rental, credit services, and installation for selected products.

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