Fortis Capital Advisors LLC Lowers Stake in The Home Depot, Inc. $HD

Fortis Capital Advisors LLC reduced its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 42.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,602 shares of the home improvement retailer’s stock after selling 1,919 shares during the period. Fortis Capital Advisors LLC’s holdings in Home Depot were worth $954,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of HD. Client 1ST Advisory Group LLC increased its stake in Home Depot by 1.5% during the 1st quarter. Client 1ST Advisory Group LLC now owns 1,878 shares of the home improvement retailer’s stock valued at $688,000 after purchasing an additional 27 shares in the last quarter. Financial Insights Inc. increased its stake in Home Depot by 3.3% during the 1st quarter. Financial Insights Inc. now owns 880 shares of the home improvement retailer’s stock valued at $323,000 after purchasing an additional 28 shares in the last quarter. Wayfinding Financial LLC increased its stake in Home Depot by 1.2% during the 1st quarter. Wayfinding Financial LLC now owns 2,353 shares of the home improvement retailer’s stock valued at $862,000 after purchasing an additional 28 shares in the last quarter. Pure Portfolios Holdings LLC increased its stake in Home Depot by 4.7% during the 1st quarter. Pure Portfolios Holdings LLC now owns 623 shares of the home improvement retailer’s stock valued at $228,000 after purchasing an additional 28 shares in the last quarter. Finally, First Interstate Bank increased its stake in Home Depot by 0.3% during the 1st quarter. First Interstate Bank now owns 9,020 shares of the home improvement retailer’s stock valued at $3,306,000 after purchasing an additional 28 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Performance

Shares of HD stock opened at $394.88 on Friday. The company has a 50 day moving average price of $402.63 and a 200-day moving average price of $376.21. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The firm has a market capitalization of $393.06 billion, a PE ratio of 26.83, a P/E/G ratio of 3.75 and a beta of 1.00. 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 earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.69 by ($0.01). The business had revenue of $45.28 billion for the quarter, compared to the consensus estimate of $45.43 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, equities research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

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

Insider Activity at Home Depot

In related news, CEO Edward P. Decker sold 32,897 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer directly owned 122,425 shares in the company, valued at approximately $48,629,658.50. The trade was a 21.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 transaction of $1,359,930.54. Following the sale, the chief financial officer owned 45,455 shares of the company’s stock, valued at $18,348,365.30. This trade represents a 6.90% 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 valued at $19,623,432 in the last three months. Corporate insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on HD. JPMorgan Chase & Co. reduced their price objective on shares of Home Depot from $460.00 to $452.00 and set an “overweight” rating for the company in a research note on Wednesday, August 20th. Truist Financial raised their price objective on shares of Home Depot from $417.00 to $433.00 and gave the company a “buy” rating in a research note on Wednesday, August 13th. Oppenheimer raised their price objective on shares of Home Depot from $400.00 to $420.00 and gave the company a “market perform” rating in a research note on Thursday, September 25th. Weiss Ratings restated a “buy (b)” rating on shares of Home Depot in a research note on Saturday, September 27th. Finally, Robert W. Baird raised their price objective on shares of Home Depot from $425.00 to $450.00 and gave the company an “outperform” rating in a research note on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $436.40.

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.