Trust Point Inc. Boosts Stock Holdings in The Home Depot, Inc. $HD

Key Points

• Trust Point Inc. increased its stake in The Home Depot, Inc. by 8.9%, owning 7,450 shares valued at approximately $2.73 million as of the end of the second quarter.
• Home Depot reported $4.68 earnings per share for the last quarter, slightly below analyst expectations, and showed 4.9% revenue growth year-over-year.
• Insider selling activity included CFO Richard V. Mcphail and EVP William D. Bastek, who sold shares totaling over $2.33 million in recent months.

Trust Point Inc. boosted its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 8.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,450 shares of the home improvement retailer's stock after acquiring an additional 607 shares during the period. Trust Point Inc.'s holdings in Home Depot were worth $2,731,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of HD. Brighton Jones LLC grew its stake in Home Depot by 36.5% during the fourth quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer's stock valued at $10,471,000 after acquiring an additional 7,203 shares in the last quarter. Bank Pictet & Cie Europe AG grew its stake in shares of Home Depot by 4.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 12,204 shares of the home improvement retailer's stock worth $4,747,000 after buying an additional 565 shares in the last quarter. State of Wyoming increased its holdings in shares of Home Depot by 29.1% in the 4th quarter. State of Wyoming now owns 666 shares of the home improvement retailer's stock worth $259,000 after buying an additional 150 shares during the last quarter. Novem Group purchased a new stake in shares of Home Depot during the 4th quarter valued at about $941,000. Finally, Mosaic Family Wealth Partners LLC grew its position in Home Depot by 6.2% in the fourth quarter. Mosaic Family Wealth Partners LLC now owns 1,876 shares of the home improvement retailer's stock worth $730,000 after acquiring an additional 110 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Home Depot

In related news, CFO Richard V. Mcphail sold 3,369 shares of Home Depot stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $403.66, for a total transaction of $1,359,930.54. Following the completion of the sale, the chief financial officer owned 45,455 shares in the company, valued at $18,348,365.30. This trade represents a 6.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP William D. Bastek sold 2,303 shares of the business's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $423.12, for a total transaction of $974,445.36. Following the completion of the sale, the executive vice president owned 24,235 shares of the company's stock, valued at approximately $10,254,313.20. This represents a 8.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,835 shares of company stock worth $19,623,432 over the last ninety days. 0.10% of the stock is currently owned by company insiders.

Home Depot Price Performance

Home Depot stock opened at $417.66 on Friday. 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 price of $394.02 and a 200-day moving average price of $373.24. The firm has a market capitalization of $415.73 billion, a PE ratio of 28.37, a price-to-earnings-growth ratio of 3.95 and a beta of 1.00. The company has a current ratio of 1.15, a quick ratio of 0.34 and a debt-to-equity ratio of 4.31.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings data 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 net margin of 8.86% and a return on equity of 193.99%. The company had revenue of $45.28 billion for the quarter, compared to the consensus estimate of $45.43 billion. During the same quarter in the previous year, the business earned $4.60 EPS. The company'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. As a group, equities research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The business also recently disclosed 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. The ex-dividend date was Thursday, September 4th. This represents a $9.20 dividend on an annualized basis and a yield of 2.2%. Home Depot's dividend payout ratio (DPR) is presently 62.50%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Telsey Advisory Group restated an "outperform" rating and set a $455.00 price objective on shares of Home Depot in a research report on Tuesday, August 19th. Morgan Stanley upped their price objective on Home Depot from $415.00 to $430.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. DA Davidson restated a "buy" rating and set a $450.00 price objective on shares of Home Depot in a research report on Tuesday, August 19th. Evercore ISI set a $400.00 price objective on Home Depot and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Finally, Stifel Nicolaus raised their target price 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. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $435.00.

About Home Depot

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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