Pinnacle Associates Ltd. Has $57.27 Million Position in The Home Depot, Inc. $HD

Pinnacle Associates Ltd. boosted its holdings in The Home Depot, Inc. (NYSE:HD) by 0.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 156,212 shares of the home improvement retailer’s stock after acquiring an additional 676 shares during the quarter. Home Depot accounts for approximately 0.8% of Pinnacle Associates Ltd.’s portfolio, making the stock its 22nd largest position. Pinnacle Associates Ltd.’s holdings in Home Depot were worth $57,273,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Mainstay Capital Management LLC ADV acquired a new stake in Home Depot in the second quarter worth $263,000. WealthPlan Investment Management LLC acquired a new stake in Home Depot in the second quarter worth $1,149,000. Tower View Wealth Management LLC raised its holdings in Home Depot by 4.3% in the second quarter. Tower View Wealth Management LLC now owns 16,196 shares of the home improvement retailer’s stock worth $5,938,000 after purchasing an additional 671 shares during the period. Ransom Advisory Ltd acquired a new stake in Home Depot in the first quarter worth $3,851,000. Finally, Shell Asset Management Co. raised its holdings in Home Depot by 45.2% in the second quarter. Shell Asset Management Co. now owns 48,175 shares of the home improvement retailer’s stock worth $17,663,000 after purchasing an additional 15,002 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Home Depot

In other Home Depot news, EVP Angie Brown sold 1,000 shares of Home Depot stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total value of $404,070.00. Following the sale, the executive vice president directly owned 3,837 shares in the company, valued at approximately $1,550,416.59. The trade was a 20.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Richard V. Mcphail sold 3,369 shares of Home Depot stock in a transaction 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 completion of the sale, the chief financial officer owned 45,455 shares in the company, valued at $18,348,365.30. The trade was a 6.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 48,835 shares of company stock worth $19,623,432. 0.10% of the stock is owned by insiders.

Analyst Ratings Changes

HD has been the topic of a number of research analyst reports. Robert W. Baird raised their price objective on shares of Home Depot from $425.00 to $450.00 and gave the stock an “outperform” rating in a report on Wednesday, August 20th. Stifel Nicolaus raised their price objective on shares of Home Depot from $425.00 to $432.00 and gave the stock a “buy” rating in a report on Monday, August 18th. Oppenheimer raised their price objective on shares of Home Depot from $400.00 to $420.00 and gave the stock a “market perform” rating in a report on Thursday, September 25th. Wells Fargo & Company raised their price objective on shares of Home Depot from $420.00 to $450.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. Finally, Mizuho raised their price objective on shares of Home Depot from $435.00 to $450.00 and gave the stock an “outperform” rating in a report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and an average target price of $434.35.

Home Depot Stock Up 0.4%

Shares of HD stock opened at $379.39 on Friday. 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 Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37. The firm’s fifty day moving average price is $401.23 and its two-hundred day moving average price is $380.29. The firm has a market capitalization of $377.64 billion, a P/E ratio of 25.77, a PEG ratio of 3.59 and a beta of 1.00.

Home Depot (NYSE:HD) last issued its quarterly 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). Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The business had revenue of $45.28 billion during the quarter, compared to analyst estimates of $45.43 billion. During the same quarter in the previous year, the firm posted $4.60 earnings per share. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, equities analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were paid a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.4%. The ex-dividend date was Thursday, September 4th. 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.