Mechanics Financial Corp Buys 34 Shares of The Home Depot, Inc. $HD

Mechanics Financial Corp boosted its stake in shares of The Home Depot, Inc. (NYSE:HD) by 1.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,053 shares of the home improvement retailer’s stock after purchasing an additional 34 shares during the quarter. Mechanics Financial Corp’s holdings in Home Depot were worth $1,119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Legend Financial Advisors Inc. acquired a new stake in Home Depot in the second quarter worth about $28,000. Abound Financial LLC purchased a new position in Home Depot during the first quarter valued at approximately $31,000. Iron Horse Wealth Management LLC raised its position 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 acquiring an additional 46 shares in the last quarter. Global X Japan Co. Ltd. purchased a new position in Home Depot during the second quarter valued at approximately $40,000. Finally, Compass Financial Services Inc purchased a new stake in shares of Home Depot in the first quarter valued at approximately $41,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Insider Activity at Home Depot

In other news, CEO Edward P. Decker sold 32,897 shares of the 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 completion of the transaction, the chief executive officer directly owned 122,425 shares of the company’s stock, valued at approximately $48,629,658.50. This represents a 21.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP William D. Bastek sold 2,303 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $423.12, for a total value of $974,445.36. Following the transaction, the executive vice president directly owned 24,235 shares of the company’s stock, valued at approximately $10,254,313.20. This trade represents a 8.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,835 shares of company stock worth $19,623,432 in the last ninety days. Company insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on HD shares. JPMorgan Chase & Co. cut their price objective on Home Depot from $460.00 to $452.00 and set an “overweight” rating for the company in a research report on Wednesday, August 20th. Telsey Advisory Group reissued an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a research note on Tuesday, August 19th. Wells Fargo & Company upped their price target on Home Depot from $420.00 to $450.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. Oppenheimer boosted their price objective on Home Depot from $400.00 to $420.00 and gave the company a “market perform” rating in a report on Thursday, September 25th. Finally, Wolfe Research initiated coverage on Home Depot in a report on Thursday, September 18th. They issued an “outperform” rating and a $497.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Home Depot has an average rating of “Moderate Buy” and an average target price of $436.40.

Home Depot Stock Down 0.6%

Shares of NYSE HD opened at $394.56 on Friday. The stock has a market cap of $392.74 billion, a PE ratio of 26.80, a price-to-earnings-growth ratio of 3.76 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. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37. The business has a 50-day moving average price of $402.24 and a 200 day moving average price of $375.89.

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 analysts’ consensus estimates of $4.69 by ($0.01). The firm had revenue of $45.28 billion during the quarter, compared to analyst estimates of $45.43 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the company earned $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 disclosed a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Thursday, September 4th. Home Depot’s dividend payout ratio (DPR) is presently 62.50%.

About Home Depot

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.