The Home Depot, Inc. $HD Stock Sold by Provident Trust Co.

Key Points

• Provident Trust Co. cut its Home Depot stake by 23.1% in the third quarter, selling 192,419 shares and retaining 638,771 shares worth approximately $181.7 million. Institutional investors and hedge funds collectively own 70.86% of the company.
• Home Depot reported quarterly revenue of $47.86 billion, up 5.7% year over year, and earnings per share of $4.92, exceeding analyst expectations of $4.73. The company also announced a quarterly dividend of $2.33 per share, representing a 2.8% annualized yield.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $375.31, despite some insider selling and mixed individual ratings.

Provident Trust Co. trimmed its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 23.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 638,771 shares of the home improvement retailer's stock after selling 192,419 shares during the quarter. Home Depot makes up 5.6% of Provident Trust Co.'s portfolio, making the stock its 8th biggest position. Provident Trust Co. owned 0.06% of Home Depot worth $181,724,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of Home Depot in the 2nd quarter worth about $28,771,247,000. State Street Corp lifted its position in shares of Home Depot by 1.1% during the second quarter. State Street Corp now owns 47,175,026 shares of the home improvement retailer's stock worth $16,637,688,000 after purchasing an additional 499,168 shares during the last quarter. Bank of America Corp DE bought a new position in shares of Home Depot during the second quarter worth about $5,780,468,000. Bank of New York Mellon Corp acquired a new position in Home Depot in the second quarter worth about $2,777,396,000. Finally, Amundi grew its stake in Home Depot by 26.4% in the second quarter. Amundi now owns 7,339,614 shares of the home improvement retailer's stock worth $2,588,535,000 after purchasing an additional 1,533,276 shares in the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Trading Up 0.0%

NYSE HD opened at $329.31 on Monday. The company has a debt-to-equity ratio of 2.64, a quick ratio of 0.31 and a current ratio of 1.08. The Home Depot, Inc. has a one year low of $277.15 and a one year high of $397.63. The company has a 50-day simple moving average of $308.45 and a 200-day simple moving average of $334.91. The firm has a market capitalization of $328.55 billion, a PE ratio of 23.04, a price-to-earnings-growth ratio of 2.34 and a beta of 1.00.

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

Home Depot Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have issued reports on HD shares. Wells Fargo & Company upped their price objective on Home Depot from $360.00 to $400.00 and gave the company an "overweight" rating in a research note on Tuesday, August 11th. KeyCorp reaffirmed a "sector weight" rating on shares of Home Depot in a report on Wednesday, August 19th. Jefferies Financial Group reiterated a "buy" rating and issued a $398.00 target price on shares of Home Depot in a research report on Tuesday, August 18th. Truist Financial boosted their price target on Home Depot from $369.00 to $373.00 and gave the company a "buy" rating in a report on Wednesday, August 19th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Home Depot in a research report on Friday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $375.31.

Insider Buying and Selling

In other news, EVP Teresa Roseborough sold 2,455 shares of the business's stock in a transaction on Friday, August 28th. The shares were sold at an average price of $328.77, for a total transaction of $807,130.35. Following the completion of the transaction, the executive vice president owned 14,061 shares of the company's stock, valued at approximately $4,622,834.97. The trade was a 14.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Kimberly Scardino sold 675 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $2,505,424.55. This represents a 7.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 9,829 shares of company stock valued at $3,339,314. 0.08% of the stock is owned by corporate insiders.

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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