Forvis Mazars Wealth Advisors LLC Trims Stake in The Home Depot, Inc. $HD

Forvis Mazars Wealth Advisors LLC lowered its position in The Home Depot, Inc. (NYSE:HD) by 3.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 7,567 shares of the home improvement retailer’s stock after selling 263 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in Home Depot were worth $2,774,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in HD. Legend Financial Advisors Inc. purchased a new stake in Home Depot in the second quarter valued at approximately $28,000. Abound Financial LLC purchased a new position in Home Depot in the 1st quarter worth approximately $31,000. Iron Horse Wealth Management LLC increased its holdings in shares of Home Depot by 86.8% in the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer’s stock worth $36,000 after buying an additional 46 shares during the last quarter. Global X Japan Co. Ltd. purchased a new stake in shares of Home Depot during the 2nd quarter valued at $40,000. Finally, GFG Capital LLC purchased a new stake in shares of Home Depot during the 2nd quarter valued at $40,000. Institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

HD has been the subject of several research reports. Oppenheimer upped their target price on shares of Home Depot from $400.00 to $420.00 and gave the stock a “market perform” rating in a research report on Thursday, September 25th. 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 report on Wednesday, August 20th. Mizuho raised their price objective on Home Depot from $435.00 to $450.00 and gave the company an “outperform” rating in a report on Wednesday, August 20th. Truist Financial boosted their target price on Home Depot from $417.00 to $433.00 and gave the stock a “buy” rating in a research report on Wednesday, August 13th. Finally, Robert W. Baird increased their price target on shares of Home Depot from $425.00 to $450.00 and gave the company an “outperform” rating in a research report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and an average target price of $435.42.

Insiders Place Their Bets

In other Home Depot news, EVP William D. Bastek sold 2,303 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $423.12, for a total value of $974,445.36. Following the transaction, the executive vice president 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $413.23, for a total transaction of $2,265,740.09. Following the sale, the executive vice president owned 16,057 shares of the company’s stock, valued at approximately $6,635,234.11. This represents a 25.45% decrease in their ownership of the stock. 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. 0.10% of the stock is currently owned by insiders.

Home Depot Trading Up 1.1%

Shares of HD stock opened at $391.79 on Monday. The business has a 50-day moving average of $403.70 and a 200 day moving average of $378.12. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.34. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37. The stock has a market capitalization of $389.98 billion, a PE ratio of 26.62, a P/E/G ratio of 3.72 and a beta of 1.00.

Home Depot (NYSE:HD) last announced its quarterly earnings data 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). The company had revenue of $45.28 billion during the quarter, compared to the consensus estimate of $45.43 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, sell-side 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. Shareholders of record on Thursday, September 4th were given 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 2.3%. Home Depot’s dividend payout ratio 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.