Conning Inc. Reduces Holdings in The Home Depot, Inc. $HD

Conning Inc. trimmed its stake in The Home Depot, Inc. (NYSE:HD) by 0.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 96,445 shares of the home improvement retailer’s stock after selling 356 shares during the period. Home Depot accounts for about 1.2% of Conning Inc.’s investment portfolio, making the stock its 29th biggest holding. Conning Inc.’s holdings in Home Depot were worth $35,361,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mainstay Capital Management LLC ADV bought a new stake in shares of Home Depot in the second quarter worth approximately $263,000. Tower View Wealth Management LLC grew its stake in shares of 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 acquiring an additional 671 shares during the period. Ransom Advisory Ltd bought a new stake in shares of Home Depot in the first quarter worth approximately $3,851,000. Shell Asset Management Co. grew its stake in shares of 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 acquiring an additional 15,002 shares during the period. Finally, Financial Gravity Asset Management Inc. bought a new stake in shares of Home Depot in the first quarter worth approximately $406,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,483 shares of Home Depot stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $413.23, for a total transaction of $2,265,740.09. Following the transaction, the executive vice president owned 16,057 shares of the company’s stock, valued at $6,635,234.11. The trade was a 25.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Edward P. Decker sold 32,897 shares of Home Depot stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the transaction, the chief executive officer directly owned 122,425 shares in the company, valued at $48,629,658.50. This 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 valued at $19,623,432. 0.10% of the stock is currently owned by company insiders.

Home Depot Stock Performance

Shares of NYSE HD opened at $375.86 on Friday. The firm has a 50 day moving average of $403.54 and a 200 day moving average of $377.09. 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 firm has a market capitalization of $374.13 billion, a price-to-earnings ratio of 25.53, a price-to-earnings-growth ratio of 3.58 and a beta of 1.00. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share 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 firm had revenue of $45.28 billion for the quarter, compared to analysts’ expectations of $45.43 billion. During the same period in the prior year, the firm earned $4.60 EPS. Home Depot’s revenue for the quarter was up 4.9% compared to the same quarter last year. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were issued a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $9.20 annualized dividend and a yield of 2.4%. Home Depot’s payout ratio is currently 62.50%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HD. Stifel Nicolaus lifted their price target on shares of Home Depot from $425.00 to $432.00 and gave the stock a “buy” rating in a research note on Monday, August 18th. Telsey Advisory Group reiterated an “outperform” rating and issued a $455.00 price target on shares of Home Depot in a research note on Tuesday, August 19th. Truist Financial lifted their price target on shares of Home Depot from $417.00 to $433.00 and gave the stock a “buy” rating in a research note on Wednesday, August 13th. DA Davidson restated a “buy” rating and set a $450.00 target price on shares of Home Depot in a research report on Tuesday, August 19th. Finally, Wolfe Research began coverage on shares of Home Depot in a research report on Thursday, September 18th. They set an “outperform” rating and a $497.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $435.42.

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.