Sagespring Wealth Partners LLC Grows Stock Position in The Home Depot, Inc. $HD

Sagespring Wealth Partners LLC raised its holdings in The Home Depot, Inc. (NYSE:HD) by 8.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 38,594 shares of the home improvement retailer’s stock after buying an additional 3,073 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Home Depot were worth $14,150,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legend Financial Advisors Inc. purchased a new position in shares of Home Depot in the second quarter worth about $28,000. Abound Financial LLC purchased a new position in shares of Home Depot in the first quarter worth about $31,000. Iron Horse Wealth Management LLC raised its stake in shares of 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 worth $36,000 after purchasing an additional 46 shares during the last quarter. Global X Japan Co. Ltd. purchased a new position in shares of Home Depot in the second quarter worth about $40,000. Finally, GFG Capital LLC purchased a new position in shares of Home Depot in the second quarter worth about $40,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Stock Up 2.2%

Shares of HD opened at $387.72 on Wednesday. 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 12 month low of $326.31 and a 12 month high of $439.37. The stock’s 50 day moving average is $403.56 and its two-hundred day moving average is $377.52. The firm has a market cap of $385.94 billion, a P/E ratio of 26.34, a PEG ratio of 3.60 and a beta of 1.00.

Home Depot (NYSE:HD) last issued its quarterly earnings data 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 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 period in the previous year, the business posted $4.60 earnings per share. The firm’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. Analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

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

Insider Buying and Selling

In related news, EVP William D. Bastek sold 2,303 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $423.12, for a total transaction of $974,445.36. Following the completion of the sale, the executive vice president directly owned 24,235 shares in the company, valued at approximately $10,254,313.20. The trade was a 8.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $413.23, for a total value of $2,265,740.09. Following the sale, 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 disclosure for this sale can be found here. Insiders sold 48,835 shares of company stock valued at $19,623,432 in the last 90 days. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on HD shares. Robert W. Baird raised their price objective on Home Depot from $425.00 to $450.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 20th. Truist Financial lifted their price target on Home Depot from $417.00 to $433.00 and gave the company a “buy” rating in a research report on Wednesday, August 13th. DA Davidson reiterated a “buy” rating and set a $450.00 price target on shares of Home Depot in a research report on Tuesday, August 19th. Morgan Stanley lifted their price target on Home Depot from $415.00 to $430.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. Finally, Oppenheimer lifted their price target on Home Depot from $400.00 to $420.00 and gave the company a “market perform” rating in a research report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $435.42.

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.