Watershed Private Wealth LLC Cuts Stock Position in The Home Depot, Inc. $HD

Watershed Private Wealth LLC lowered its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 2.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,262 shares of the home improvement retailer’s stock after selling 38 shares during the quarter. Watershed Private Wealth LLC’s holdings in Home Depot were worth $463,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in HD. Brighton Jones LLC grew its holdings in Home Depot by 36.5% during the 4th quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock valued at $10,471,000 after buying an additional 7,203 shares in the last quarter. Wedge Capital Management L L P NC grew its stake in Home Depot by 4.1% during the first quarter. Wedge Capital Management L L P NC now owns 1,698 shares of the home improvement retailer’s stock valued at $622,000 after acquiring an additional 67 shares in the last quarter. NewSquare Capital LLC grew its stake in Home Depot by 181.4% during the first quarter. NewSquare Capital LLC now owns 287 shares of the home improvement retailer’s stock valued at $105,000 after acquiring an additional 185 shares in the last quarter. Pallas Capital Advisors LLC grew its position in shares of Home Depot by 2.9% during the first quarter. Pallas Capital Advisors LLC now owns 2,416 shares of the home improvement retailer’s stock valued at $885,000 after purchasing an additional 69 shares in the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of Home Depot during the first quarter valued at about $13,856,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

NYSE HD opened at $386.84 on Wednesday. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15. The stock’s fifty day moving average is $403.07 and its two-hundred day moving average is $376.85. The firm has a market capitalization of $385.06 billion, a P/E ratio of 26.28, a price-to-earnings-growth ratio of 3.69 and a beta of 1.00. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week 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 the consensus estimate of $4.69 by ($0.01). Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The company had revenue of $45.28 billion for the quarter, compared to analysts’ expectations of $45.43 billion. During the same quarter in the prior year, the firm earned $4.60 EPS. The firm’s 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, research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were issued a dividend of $2.30 per share. 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 (DPR) is currently 62.50%.

Analyst Ratings Changes

Several equities analysts have weighed in on HD shares. Wolfe Research started 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. DA Davidson restated a “buy” rating and issued a $450.00 price target on shares of Home Depot in a research note on Tuesday, August 19th. Morgan Stanley upped their target price on Home Depot from $415.00 to $430.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. Mizuho boosted their price objective on Home Depot from $435.00 to $450.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 20th. Finally, Truist Financial raised their target price on Home Depot from $417.00 to $433.00 and gave the company a “buy” rating in a research report on Wednesday, August 13th. One investment 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $436.40.

Insider Buying and Selling at Home Depot

In other Home Depot news, CFO Richard V. Mcphail sold 3,369 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Edward P. Decker sold 32,897 shares of the firm’s stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $397.22, for a total value of $13,067,346.34. Following the sale, the chief executive officer directly owned 122,425 shares of the company’s stock, valued at approximately $48,629,658.50. This trade represents a 21.18% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,835 shares of company stock worth $19,623,432. Insiders own 0.10% of the company’s stock.

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.