ERn Financial LLC Lowers Stock Position in The Home Depot, Inc. $HD

ERn Financial LLC cut its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 71.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 890 shares of the home improvement retailer’s stock after selling 2,186 shares during the period. ERn Financial LLC’s holdings in Home Depot were worth $326,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of HD. Asset Planning Services Inc. LA ADV grew its position in shares of Home Depot by 99,400.7% during 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 acquiring an additional 18,956,701 shares during the last quarter. Nuveen LLC purchased a new position in shares of Home Depot during the first quarter worth approximately $2,076,592,000. Price T Rowe Associates Inc. MD grew its position in shares of Home Depot by 19.3% during 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 acquiring an additional 1,494,261 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in shares of Home Depot during the second quarter worth approximately $418,486,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Home Depot by 6.6% during 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 acquiring an additional 891,326 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Home Depot

In related news, EVP William D. Bastek sold 3,783 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $410.23, for a total value of $1,551,900.09. Following the completion of the transaction, the executive vice president owned 24,235 shares of the company’s stock, valued at approximately $9,941,924.05. The trade was a 13.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Edward P. Decker sold 32,897 shares of Home Depot stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $397.22, for a total value of $13,067,346.34. Following the completion of the sale, the chief executive officer owned 122,425 shares of the company’s stock, valued at $48,629,658.50. This trade represents a 21.18% 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 in the last ninety days. Company insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

HD has been the subject of several recent research reports. Stifel Nicolaus increased their price target on Home Depot from $425.00 to $432.00 and gave the stock a “buy” rating in a report on Monday, August 18th. Truist Financial increased their price target on Home Depot from $417.00 to $433.00 and gave the stock a “buy” rating in a report on Wednesday, August 13th. Wolfe Research initiated coverage on Home Depot in a report on Thursday, September 18th. They set an “outperform” rating and a $497.00 price target for the company. TD Securities downgraded Home Depot to a “buy” rating in a report on Monday, June 2nd. Finally, JPMorgan Chase & Co. decreased their price target on Home Depot from $460.00 to $452.00 and set an “overweight” rating for the company in a report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $436.40.

Home Depot Trading Up 0.7%

Shares of HD stock opened at $410.16 on Monday. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The stock has a market cap of $408.27 billion, a P/E ratio of 27.86, a P/E/G ratio of 3.89 and a beta of 1.00. The business has a fifty day simple moving average of $399.85 and a 200-day simple moving average of $374.87. 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) last announced its quarterly 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 net margin of 8.86% and a return on equity of 193.99%. The firm had revenue of $45.28 billion during the quarter, compared to analysts’ expectations of $45.43 billion. During the same quarter in the prior 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. On average, analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company 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 yield of 2.2%. Home Depot’s payout ratio is presently 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.