WealthPLAN Partners LLC Cuts Holdings in The Home Depot, Inc. $HD

WealthPLAN Partners LLC cut its position in shares of The Home Depot, Inc. (NYSE:HD) by 3.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,828 shares of the home improvement retailer’s stock after selling 127 shares during the quarter. WealthPLAN Partners LLC’s holdings in Home Depot were worth $1,403,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HD. Evernest Financial Advisors LLC raised its position in Home Depot by 6.7% in the second quarter. Evernest Financial Advisors LLC now owns 3,646 shares of the home improvement retailer’s stock worth $1,337,000 after acquiring an additional 229 shares during the period. Omnia Family Wealth LLC raised its position in Home Depot by 43.8% in the second quarter. Omnia Family Wealth LLC now owns 1,765 shares of the home improvement retailer’s stock worth $647,000 after acquiring an additional 538 shares during the period. Turtle Creek Wealth Advisors LLC raised its position in Home Depot by 9.4% in the second quarter. Turtle Creek Wealth Advisors LLC now owns 23,797 shares of the home improvement retailer’s stock worth $8,725,000 after acquiring an additional 2,048 shares during the period. Nvest Financial LLC bought a new stake in Home Depot in the second quarter worth about $221,000. Finally, WealthPlan Investment Management LLC bought a new stake in Home Depot in the second quarter worth about $1,149,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Stock Performance

NYSE HD opened at $388.49 on Thursday. The company’s 50 day moving average is $403.59 and its 200-day moving average is $377.59. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31. The firm has a market cap of $386.70 billion, a P/E ratio of 26.39, a price-to-earnings-growth ratio of 3.68 and a beta of 1.00.

Home Depot (NYSE:HD) last posted its 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). The firm had revenue of $45.28 billion for 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 business’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the company posted $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Sell-side analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently announced 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. This represents a $9.20 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Thursday, September 4th. Home Depot’s dividend payout ratio is 62.50%.

Insider Buying and Selling at Home Depot

In related news, CFO Richard V. Mcphail sold 3,369 shares of the company’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 approximately $18,348,365.30. This represents a 6.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Edward P. Decker sold 32,897 shares of the company’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the sale, the chief executive officer directly owned 122,425 shares in the company, 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. Insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on HD shares. Mizuho lifted their price objective on shares of Home Depot from $435.00 to $450.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 20th. Morgan Stanley lifted their price objective on shares of Home Depot from $415.00 to $430.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. JPMorgan Chase & Co. lowered 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. Oppenheimer boosted their price target on shares of Home Depot from $400.00 to $420.00 and gave the company a “market perform” rating in a research report on Thursday, September 25th. Finally, Wolfe Research assumed coverage on shares of Home Depot in a research report on Thursday, September 18th. They issued an “outperform” rating and a $497.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and a consensus target price of $435.42.

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.