Conning Inc. Lowers Position in The Home Depot, Inc. $HD

Conning Inc. lessened its stake in The Home Depot, Inc. (NYSE:HD) by 0.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 96,445 shares of the home improvement retailer’s stock after selling 356 shares during the quarter. Home Depot makes up about 1.2% of Conning Inc.’s investment portfolio, making the stock its 29th largest position. Conning Inc.’s holdings in Home Depot were worth $35,361,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of HD. Legend Financial Advisors Inc. purchased a new stake in Home Depot during the second quarter valued at $28,000. Abound Financial LLC purchased a new stake in Home Depot during the first quarter valued at $31,000. Iron Horse Wealth Management LLC raised its stake in Home Depot by 86.8% during the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer’s stock valued at $36,000 after purchasing an additional 46 shares in the last quarter. Global X Japan Co. Ltd. purchased a new stake in Home Depot during the second quarter valued at $40,000. Finally, GFG Capital LLC purchased a new stake in Home Depot during the second quarter valued at $40,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Transactions at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 5,483 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $413.23, for a total value of $2,265,740.09. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP William D. Bastek sold 3,783 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $410.23, for a total transaction of $1,551,900.09. Following the completion of the sale, the executive vice president directly owned 24,235 shares of the company’s stock, valued at approximately $9,941,924.05. This trade represents a 13.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,835 shares of company stock valued at $19,623,432. Company insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on HD shares. Mizuho upped their price target on shares of Home Depot from $435.00 to $450.00 and gave the company an “outperform” rating in a research note on Wednesday, August 20th. Wells Fargo & Company boosted their price objective on shares of Home Depot from $420.00 to $450.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. JPMorgan Chase & Co. cut their price objective on shares of Home Depot from $460.00 to $452.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 20th. Truist Financial boosted their price objective on shares of Home Depot from $417.00 to $433.00 and gave the company a “buy” rating in a research report on Wednesday, August 13th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Home Depot in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $435.42.

Home Depot Trading Down 0.5%

NYSE HD opened at $375.86 on Friday. The company’s 50-day moving average price is $403.54 and its 200-day moving average price is $377.09. The company has a current ratio of 1.15, a quick ratio of 0.34 and a debt-to-equity ratio of 4.31. The stock has a market cap of $374.13 billion, a PE ratio of 25.53, a PEG ratio of 3.58 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.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 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 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 company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Equities research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently declared 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 was Thursday, September 4th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.4%. Home Depot’s dividend 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.