The Home Depot, Inc. $HD Stock Sold by Factory Mutual Insurance Co.

Key Points

• Factory Mutual Insurance Co. cut its Home Depot stake by 33% in the third quarter, selling 45,400 shares and retaining 92,100 shares worth about $26.2 million.
• Analysts have a “Moderate Buy” consensus and an average price target of $375.31; ratings include 18 Buys, 13 Holds, one Strong Buy, and one Sell.
• Home Depot beat quarterly earnings and revenue estimates, with earnings of $4.92 per share and revenue of $47.86 billion. The article also notes share-price weakness amid a sluggish housing market.

Factory Mutual Insurance Co. decreased its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 33.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,100 shares of the home improvement retailer's stock after selling 45,400 shares during the quarter. Factory Mutual Insurance Co.'s holdings in Home Depot were worth $26,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of HD. BlackRock Inc. purchased a new position in shares of Home Depot during the second quarter worth approximately $28,771,247,000. State Street Corp boosted its stake in shares of Home Depot by 1.1% in the 2nd quarter. State Street Corp now owns 47,175,026 shares of the home improvement retailer's stock valued at $16,637,688,000 after purchasing an additional 499,168 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of Home Depot in the 2nd quarter valued at $5,780,468,000. Bank of New York Mellon Corp purchased a new stake in shares of Home Depot in the 2nd quarter valued at $2,777,396,000. Finally, Corient Private Wealth LP purchased a new stake in shares of Home Depot in the 2nd quarter valued at $390,913,000. Hedge funds and other institutional investors own 70.86% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on HD shares. Sanford C. Bernstein reduced their target price on shares of Home Depot from $354.00 to $344.00 and set a "market perform" rating on the stock in a report on Wednesday, September 9th. TD Cowen reissued a "buy" rating on shares of Home Depot in a research note on Monday, August 10th. Mizuho upped their price target on shares of Home Depot from $385.00 to $390.00 and gave the company an "outperform" rating in a research report on Wednesday, August 19th. Jefferies Financial Group restated a "buy" rating and set a $398.00 price target on shares of Home Depot in a research report on Tuesday, August 18th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Home Depot in a research note on Friday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $375.31.

Insider Activity

In related news, CAO Kimberly R. Scardino sold 675 shares of the firm's stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $305.95, for a total value of $206,516.25. Following the sale, the chief accounting officer directly owned 8,189 shares of the company's stock, valued at $2,505,424.55. This trade represents a 7.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael F. Rowe sold 710 shares of the business's stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $336.76, for a total value of $239,099.60. Following the transaction, the executive vice president owned 6,838 shares in the company, valued at approximately $2,302,764.88. This represents a 9.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 9,829 shares of company stock valued at $3,339,314. 0.08% of the stock is currently owned by insiders.

Key Stories Impacting Home Depot

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

• Positive Sentiment: Home Depot recently beat earnings expectations, supporting optimism about its ability to deliver results even in a challenging housing environment. Home Depot Stock Could Be Poised for a Turnaround
• Positive Sentiment: Coverage highlights Home Depot’s 17 consecutive years of dividend increases and its scale, which may help it remain resilient and sustain shareholder returns through a weak housing cycle. Home Depot Has Raised Its Dividend 17 Straight Years
• Neutral Sentiment: Analyst-oriented coverage says Home Depot has a record of earnings surprises and may be positioned to beat estimates again; this is a forecast, not a reported result. The company will hold its third-quarter earnings call on November 17. Will Home Depot Beat Estimates Again? Third Quarter Earnings Call Announcement
• Negative Sentiment: The stock’s weakness amid a broader-market uptick suggests investors remain cautious. Recent commentary cites a historically sluggish housing market and shares being down for the year as factors that could weigh on expectations for renovation-related spending. Home Depot Stock Falls Amid Market Uptick

Home Depot Stock Down 2.2%

Shares of NYSE HD opened at $333.49 on Wednesday. The company has a quick ratio of 0.31, a current ratio of 1.08 and a debt-to-equity ratio of 2.64. The Home Depot, Inc. has a 52 week low of $277.15 and a 52 week high of $397.63. The firm's fifty day moving average is $308.48 and its 200 day moving average is $334.51. The company has a market cap of $332.72 billion, a price-to-earnings ratio of 23.34, a PEG ratio of 2.43 and a beta of 0.93.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings results on Tuesday, August 18th. The home improvement retailer reported $4.92 EPS for the quarter, beating analysts' consensus estimates of $4.73 by $0.19. The company had revenue of $47.86 billion during the quarter, compared to analyst estimates of $47.24 billion. Home Depot had a net margin of 8.41% and a return on equity of 106.42%. The firm's revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business posted $4.68 EPS. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. On average, equities research analysts expect that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 17th. Stockholders of record on Thursday, September 3rd were paid a dividend of $2.33 per share. This represents a $9.32 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Thursday, September 3rd. Home Depot's dividend payout ratio is 65.22%.

Home Depot Profile

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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