United Bank Lowers Stock Holdings in The Home Depot, Inc. $HD

Key Points

• United Bank has reduced its stock holdings in The Home Depot, Inc. by 14.1%, resulting in ownership of 4,317 shares valued at approximately $1.58 million.
• Insider selling activity has been significant, with executives from Home Depot selling a combined total of 48,835 shares worth over $19.6 million in recent transactions.
• Several analysts have upgraded their price targets for Home Depot, with Mizuho raising its target from $435 to $450, reflecting positive sentiments about the stock's performance.

United Bank trimmed its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 14.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,317 shares of the home improvement retailer's stock after selling 706 shares during the quarter. United Bank's holdings in Home Depot were worth $1,583,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Legend Financial Advisors Inc. purchased a new position in shares of Home Depot in the 2nd quarter valued at about $28,000. Abound Financial LLC purchased a new position in shares of Home Depot in the 1st quarter valued at about $31,000. Iron Horse Wealth Management LLC boosted its stake in shares of 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 valued at $36,000 after buying an additional 46 shares during the period. Global X Japan Co. Ltd. purchased a new position in shares of Home Depot in the 2nd quarter valued at about $40,000. Finally, GFG Capital LLC purchased a new position in shares of Home Depot in the 2nd quarter valued at about $40,000. Hedge funds and other institutional investors own 70.86% of the company's stock.

Insiders Place Their Bets

In other news, EVP Angie Brown sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $404.07, for a total value of $404,070.00. Following the transaction, the executive vice president owned 3,837 shares of the company's stock, valued at approximately $1,550,416.59. The trade was a 20.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Richard V. Mcphail sold 3,369 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $403.66, for a total value of $1,359,930.54. Following the completion of the transaction, the chief financial officer directly owned 45,455 shares in the company, valued at approximately $18,348,365.30. The trade was a 6.90% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,835 shares of company stock valued at $19,623,432. 0.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

HD has been the subject of several recent research reports. Stifel Nicolaus lifted their price objective on Home Depot from $425.00 to $432.00 and gave the company a "buy" rating in a research note on Monday, August 18th. Mizuho boosted their target price on Home Depot from $435.00 to $450.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 20th. Robert W. Baird boosted their target price on Home Depot from $425.00 to $450.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 20th. JPMorgan Chase & Co. decreased their target price on Home Depot from $460.00 to $452.00 and set an "overweight" rating for the company in a research note on Wednesday, August 20th. Finally, DA Davidson reaffirmed a "buy" rating and set a $450.00 price target on shares of Home Depot in a research report on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $435.42.

Home Depot Trading Up 1.1%

HD opened at $391.79 on Friday. The firm has a market cap of $389.98 billion, a price-to-earnings ratio of 26.62, a price-to-earnings-growth ratio of 3.68 and a beta of 1.00. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The business's 50 day moving average is $403.70 and its two-hundred day moving average is $377.92. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31.

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

Home Depot Dividend Announcement

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

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.

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