Probity Advisors Inc. Cuts Stake in The Home Depot, Inc. $HD

Probity Advisors Inc. reduced its stake in The Home Depot, Inc. (NYSE:HD) by 15.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 2,600 shares of the home improvement retailer’s stock after selling 486 shares during the period. Probity Advisors Inc.’s holdings in Home Depot were worth $953,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mainstay Capital Management LLC ADV purchased a new position in shares of Home Depot in the 2nd quarter worth about $263,000. WealthPlan Investment Management LLC purchased a new position in shares of Home Depot in the second quarter worth about $1,149,000. Tower View Wealth Management LLC increased 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 purchasing an additional 671 shares in the last quarter. Ransom Advisory Ltd bought a new stake in shares of Home Depot in the first quarter valued at approximately $3,851,000. Finally, Shell Asset Management Co. lifted its stake in shares of Home Depot by 45.2% during the 2nd quarter. Shell Asset Management Co. now owns 48,175 shares of the home improvement retailer’s stock valued at $17,663,000 after buying an additional 15,002 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Teresa Wynn Roseborough sold 5,483 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $413.23, for a total value of $2,265,740.09. Following the transaction, the executive vice president directly owned 16,057 shares in the company, valued at approximately $6,635,234.11. This represents a 25.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William D. Bastek sold 3,783 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $410.23, for a total transaction of $1,551,900.09. Following the completion of the transaction, the executive vice president owned 24,235 shares in the company, valued at approximately $9,941,924.05. This trade represents a 13.50% 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. 0.10% of the stock is owned by company insiders.

Home Depot Trading Down 0.8%

Shares of Home Depot stock opened at $388.91 on Tuesday. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37. The company has a market cap of $387.12 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 3.72 and a beta of 1.00. 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 company’s 50-day moving average price is $403.72 and its 200-day moving average price is $378.37.

Home Depot (NYSE:HD) last posted 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 return on equity of 193.99% and a net margin of 8.86%.The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the company posted $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, equities analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were given a $2.30 dividend. 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 dividend payout ratio is 62.50%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Morgan Stanley raised their price objective on shares of Home Depot from $415.00 to $430.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. Robert W. Baird raised their price objective on shares of Home Depot from $425.00 to $450.00 and gave the stock an “outperform” rating in a report on Wednesday, August 20th. JPMorgan Chase & Co. cut their price objective on shares of Home Depot from $460.00 to $452.00 and set an “overweight” rating for the company in a report on Wednesday, August 20th. Wells Fargo & Company raised their price objective on shares of Home Depot from $420.00 to $450.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. Finally, Mizuho raised their price objective on shares of Home Depot from $435.00 to $450.00 and gave the stock an “outperform” rating in a 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 assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.