Tower View Wealth Management LLC Raises Stock Position in The Home Depot, Inc. $HD

Key Points

• Tower View Wealth Management LLC increased its stake in The Home Depot by 4.3%, now owning 16,196 shares valued at approximately $5,938,000.
• The Home Depot reported an earnings miss for the last quarter with $4.68 EPS, slightly below the consensus estimate of $4.69.
• Home Depot recently announced a $2.30 quarterly dividend, which results in an annualized dividend of $9.20 and a yield of 2.3%.

Tower View Wealth Management LLC boosted its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 4.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,196 shares of the home improvement retailer's stock after purchasing an additional 671 shares during the quarter. Home Depot comprises 3.1% of Tower View Wealth Management LLC's investment portfolio, making the stock its 13th biggest position. Tower View Wealth Management LLC's holdings in Home Depot were worth $5,938,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Legend Financial Advisors Inc. purchased a new stake in shares of Home Depot in the second quarter worth $28,000. Abound Financial LLC purchased a new position in Home Depot during the first quarter worth about $31,000. Iron Horse Wealth Management LLC increased its stake 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 acquiring an additional 46 shares during the last quarter. Global X Japan Co. Ltd. purchased a new stake in shares of Home Depot in the 2nd quarter valued at about $40,000. Finally, Compass Financial Services Inc purchased a new stake in shares of Home Depot in the 1st quarter valued at about $41,000. 70.86% of the stock is owned by institutional investors.

Home Depot Stock Performance

Shares of HD stock opened at $394.56 on Friday. The company has a market capitalization of $392.74 billion, a P/E ratio of 26.80, a PEG ratio of 3.76 and a beta of 1.00. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15. The stock has a 50 day moving average price of $402.24 and a two-hundred day moving average price of $375.89.

Home Depot (NYSE:HD - Get Free Report) last issued its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 EPS for the quarter, missing the consensus estimate of $4.69 by ($0.01). Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The firm had revenue of $45.28 billion during the quarter, compared to analysts' expectations of $45.43 billion. During the same period in the previous year, the firm earned $4.60 earnings per share. The firm's quarterly revenue was up 4.9% compared to the same quarter last year. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Investors 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 dividend yield of 2.3%. Home Depot's dividend payout ratio (DPR) is presently 62.50%.

Insider Activity at Home Depot

In other Home Depot news, CEO Edward P. Decker sold 32,897 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the completion of the transaction, the chief executive officer owned 122,425 shares of the company's stock, valued at $48,629,658.50. This represents a 21.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of Home Depot stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $413.23, for a total value of $2,265,740.09. Following the completion of the sale, the executive vice president owned 16,057 shares in the company, valued at approximately $6,635,234.11. This represents a 25.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 48,835 shares of company stock worth $19,623,432 over the last 90 days. 0.10% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently weighed in on HD. Truist Financial upped their price objective on shares of Home Depot from $417.00 to $433.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. Stifel Nicolaus increased their price target on shares of Home Depot from $425.00 to $432.00 and gave the stock a "buy" rating in a report on Monday, August 18th. JPMorgan Chase & Co. lowered their price objective on shares of Home Depot from $460.00 to $452.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 20th. Wolfe Research initiated coverage on shares of Home Depot in a research report on Thursday, September 18th. They issued an "outperform" rating and a $497.00 target price for the company. Finally, Wells Fargo & Company raised their price target on Home Depot from $420.00 to $450.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $436.40.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.