Triton Wealth Management PLLC Invests $609,000 in The Home Depot, Inc. $HD

Key Points

• Triton Wealth Management PLLC has invested approximately $609,000 in 1,631 shares of The Home Depot, adding to the existing interest from institutional investors.
• The Home Depot's stock has a consensus rating of "Moderate Buy" with an average target price of $435.42, along with favorable ratings from several research analysts.
• The company reported quarterly earnings of $4.68 per share, falling short of analysts' estimates, with revenue reported at $45.28 billion.

Triton Wealth Management PLLC purchased a new position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,631 shares of the home improvement retailer's stock, valued at approximately $609,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Legend Financial Advisors Inc. purchased a new position in shares of Home Depot during the 2nd quarter valued at $28,000. Abound Financial LLC purchased a new position in shares of Home Depot during the 1st quarter valued at $31,000. Iron Horse Wealth Management LLC lifted its stake in shares of Home Depot by 86.8% during the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock valued at $36,000 after buying an additional 46 shares in the last quarter. Global X Japan Co. Ltd. purchased a new position in shares of Home Depot during the 2nd quarter valued at $40,000. Finally, GFG Capital LLC purchased a new position in shares of Home Depot during the 2nd quarter valued at $40,000. Hedge funds and other institutional investors own 70.86% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on HD shares. Telsey Advisory Group restated an "outperform" rating and set a $455.00 target price on shares of Home Depot in a research note on Tuesday, August 19th. Weiss Ratings restated a "buy (b)" rating on shares of Home Depot in a research note on Wednesday, October 8th. Stifel Nicolaus lifted their price target on shares of Home Depot from $425.00 to $432.00 and gave the company a "buy" rating in a report on Monday, August 18th. Morgan Stanley lifted their price target on shares of Home Depot from $415.00 to $430.00 and gave the company an "overweight" rating in a report on Wednesday, August 20th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Home Depot from $460.00 to $452.00 and set an "overweight" rating on the stock in a report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $435.42.

Home Depot Stock Performance

Home Depot stock opened at $387.72 on Wednesday. The company's 50-day moving average price is $403.56 and its 200-day moving average price is $377.52. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31. The company has a market cap of $385.94 billion, a PE ratio of 26.34, a price-to-earnings-growth ratio of 3.60 and a beta of 1.00.

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

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were issued a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.4%. The ex-dividend date was Thursday, September 4th. Home Depot's dividend payout ratio is presently 62.50%.

Insider Activity at Home Depot

In related news, EVP Angie Brown sold 1,000 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total transaction of $404,070.00. Following the transaction, the executive vice president directly owned 3,837 shares in the company, valued at approximately $1,550,416.59. This represents a 20.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Edward P. Decker sold 32,897 shares of the company's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the transaction, the chief executive officer owned 122,425 shares in the company, valued at $48,629,658.50. The trade was a 21.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,835 shares of company stock worth $19,623,432 in the last three months. 0.10% of the stock is owned by insiders.

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.

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