Elm3 Financial Group LLC Cuts Stock Holdings in The Home Depot, Inc. $HD

Elm3 Financial Group LLC cut its position in shares of The Home Depot, Inc. (NYSE:HD) by 4.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,071 shares of the home improvement retailer’s stock after selling 188 shares during the period. Home Depot accounts for 1.2% of Elm3 Financial Group LLC’s holdings, making the stock its 21st biggest position. Elm3 Financial Group LLC’s holdings in Home Depot were worth $1,493,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legend Financial Advisors Inc. acquired a new stake in shares of Home Depot during the 2nd quarter valued at about $28,000. Abound Financial LLC purchased a new position in Home Depot during the first quarter worth approximately $31,000. Iron Horse Wealth Management LLC grew its holdings in Home Depot by 86.8% in 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 during the period. Global X Japan Co. Ltd. purchased a new stake in shares of Home Depot in 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 Buying and Selling at Home Depot

In other Home Depot news, CFO Richard V. Mcphail sold 3,369 shares of the business’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $403.66, for a total value of $1,359,930.54. Following the transaction, the chief financial officer directly owned 45,455 shares in the company, valued at $18,348,365.30. The trade was a 6.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Angie Brown sold 1,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total transaction of $404,070.00. Following the completion of the sale, the executive vice president directly owned 3,837 shares of the company’s stock, valued at approximately $1,550,416.59. This trade represents a 20.67% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,835 shares of company stock worth $19,623,432. Corporate insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Telsey Advisory Group reiterated an “outperform” rating and set a $455.00 target price on shares of Home Depot in a research report on Tuesday, August 19th. DA Davidson reaffirmed a “buy” rating and set a $450.00 price objective on shares of Home Depot in a report on Tuesday, August 19th. Wells Fargo & Company boosted their target price on shares of Home Depot from $420.00 to $450.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. Stifel Nicolaus upped their price target on shares of Home Depot from $425.00 to $432.00 and gave the stock a “buy” rating in a research report on Monday, August 18th. Finally, Robert W. Baird lifted their price objective on Home Depot from $425.00 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, twenty have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $436.40.

Home Depot Stock Down 1.4%

HD stock opened at $389.56 on Tuesday. The company has a market cap of $387.76 billion, a price-to-earnings ratio of 26.46, a PEG ratio of 3.75 and a beta of 1.00. The firm has a 50-day moving average of $402.88 and a two-hundred day moving average of $376.78. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37. The company has a current ratio of 1.15, a quick ratio of 0.34 and a debt-to-equity ratio of 4.31.

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

Home Depot Announces Dividend

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 dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Thursday, September 4th. Home Depot’s payout ratio is currently 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.