The Home Depot, Inc. (NYSE:HD) Shares Sold by Eagle Global Advisors LLC

Key Points

• Eagle Global Advisors LLC reduced its holdings in Home Depot by 1.3%, now owning 62,683 shares valued at approximately $22.97 million.
• Home Depot's quarterly earnings report showed a missed estimate with $3.56 earnings per share, although revenues increased 9.4% year-over-year to $39.86 billion.
• The company recently declared a $2.30 quarterly dividend, yielding 2.4%, with a payout ratio of 62.42%.

Eagle Global Advisors LLC reduced its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 1.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 62,683 shares of the home improvement retailer's stock after selling 829 shares during the quarter. Home Depot makes up approximately 0.9% of Eagle Global Advisors LLC's investment portfolio, making the stock its 25th biggest position. Eagle Global Advisors LLC's holdings in Home Depot were worth $22,973,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Navigoe LLC bought a new position in Home Depot in the 4th quarter worth $29,000. Abound Financial LLC bought a new position in Home Depot in the 1st quarter worth $31,000. Iron Horse Wealth Management LLC raised its holdings in Home Depot by 86.8% in 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 period. Quarry LP raised its holdings in Home Depot by 220.0% during the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock valued at $37,000 after acquiring an additional 66 shares during the period. Finally, Quest 10 Wealth Builders Inc. raised its holdings in Home Depot by 35.7% during the first quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock valued at $42,000 after acquiring an additional 30 shares during the period. 70.86% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on HD shares. TD Securities cut Home Depot to a "buy" rating in a report on Monday, June 2nd. JPMorgan Chase & Co. raised their price target on Home Depot from $410.00 to $418.00 and gave the company an "overweight" rating in a report on Wednesday, May 21st. DA Davidson decreased their price target on Home Depot from $470.00 to $450.00 in a report on Tuesday, May 20th. Royal Bank Of Canada decreased their price target on Home Depot from $424.00 to $399.00 and set a "sector perform" rating on the stock in a report on Thursday, May 15th. Finally, Truist Financial reissued a "buy" rating and set a $433.00 price target (up from $417.00) on shares of Home Depot in a report on Wednesday. Seven analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $427.48.

Insider Buying and Selling

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total value of $1,996,327.68. Following the completion of the transaction, the executive vice president owned 17,367 shares of the company's stock, valued at $6,413,285.76. The trade was a 23.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Fahim Siddiqui sold 2,600 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total transaction of $954,564.00. Following the completion of the transaction, the executive vice president directly owned 7,951 shares of the company's stock, valued at $2,919,130.14. This trade represents a 24.64% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.

Home Depot Trading Down 0.6%

Shares of NYSE:HD traded down $2.23 during trading hours on Friday, hitting $398.09. 1,992,410 shares of the company's stock traded hands, compared to its average volume of 3,504,644. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37. The business has a fifty day moving average price of $369.83 and a 200-day moving average price of $372.03. The firm has a market capitalization of $396.07 billion, a P/E ratio of 27.01, a price-to-earnings-growth ratio of 3.87 and a beta of 1.00. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). The firm had revenue of $39.86 billion during the quarter, compared to analysts' expectations of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.63 EPS. Equities analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were issued a $2.30 dividend. The ex-dividend date was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.3%. Home Depot's payout ratio is presently 62.42%.

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.