Truist Financial Corp Has $400.19 Million Stock Position in The Home Depot, Inc. $HD

Key Points

• Truist Financial Corp reduced its stake in The Home Depot by 2.8% in Q2, now holding approximately 1,091,505 shares valued at $400.19 million.
• Institutional investors own 70.86% of Home Depot's stock, with firms like Vanguard and Price T Rowe Associates significantly increasing their holdings recently.
• Home Depot reported earnings of $4.68 EPS, slightly missing expectations, and announced a quarterly dividend of $2.30 per share, yielding 2.3%.

Truist Financial Corp trimmed its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 2.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,091,505 shares of the home improvement retailer's stock after selling 31,114 shares during the quarter. Truist Financial Corp owned approximately 0.11% of Home Depot worth $400,190,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Home Depot by 0.8% in the first quarter. Vanguard Group Inc. now owns 96,484,199 shares of the home improvement retailer's stock worth $35,360,494,000 after buying an additional 720,447 shares during the period. Asset Planning Services Inc. LA ADV boosted its holdings in shares of Home Depot by 99,400.7% in the first quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock worth $6,954,431,000 after buying an additional 18,956,701 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Home Depot by 6.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 14,415,278 shares of the home improvement retailer's stock worth $5,282,398,000 after buying an additional 891,326 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Home Depot by 19.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,253,292 shares of the home improvement retailer's stock worth $3,391,240,000 after buying an additional 1,494,261 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Home Depot by 5.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,949,404 shares of the home improvement retailer's stock worth $3,279,867,000 after buying an additional 477,192 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP William D. Bastek sold 2,303 shares of Home Depot stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $423.12, for a total value of $974,445.36. Following the transaction, the executive vice president owned 24,235 shares of the company's stock, valued at $10,254,313.20. This trade represents a 8.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of Home Depot stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $413.23, for a total transaction of $2,265,740.09. Following the completion of the transaction, the executive vice president directly owned 16,057 shares in the company, valued at approximately $6,635,234.11. This represents a 25.45% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,835 shares of company stock valued at $19,623,432. 0.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. DA Davidson reiterated a "buy" rating and issued a $450.00 target price on shares of Home Depot in a report on Tuesday, August 19th. Truist Financial raised their price target on shares of Home Depot from $417.00 to $433.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. Wells Fargo & Company raised their price target on shares of Home Depot from $420.00 to $450.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. JPMorgan Chase & Co. decreased their price target on shares of Home Depot from $460.00 to $452.00 and set an "overweight" rating for the company in a report on Wednesday, August 20th. Finally, Oppenheimer raised their price target on shares of Home Depot from $400.00 to $420.00 and gave the stock a "market perform" rating in a report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $436.40.

Home Depot Stock Performance

HD stock opened at $405.25 on Wednesday. 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 capitalization of $403.38 billion, a price-to-earnings ratio of 27.53, a P/E/G ratio of 3.86 and a beta of 1.00. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37. The firm has a 50 day moving average of $401.39 and a two-hundred day moving average of $375.46.

Home Depot (NYSE:HD - Get Free Report) last posted 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). The business had revenue of $45.28 billion during the quarter, compared to the consensus estimate of $45.43 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The business's revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, equities analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were given a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Thursday, September 4th. Home Depot's payout ratio is currently 62.50%.

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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