Kinsale Capital Group Inc. Acquires 17,409 Shares of The Home Depot, Inc. $HD

Kinsale Capital Group Inc. grew its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 45.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,785 shares of the home improvement retailer’s stock after buying an additional 17,409 shares during the quarter. Home Depot makes up 2.1% of Kinsale Capital Group Inc.’s portfolio, making the stock its 14th largest position. Kinsale Capital Group Inc.’s holdings in Home Depot were worth $15,870,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of HD. BlackRock Inc. acquired a new stake in shares of Home Depot in the second quarter valued at about $28,771,247,000. Bank of America Corp DE bought a new stake in Home Depot during the second quarter worth about $5,780,468,000. Bank of New York Mellon Corp acquired a new position in Home Depot during the second quarter valued at approximately $2,777,396,000. Corient Private Wealth LP acquired a new position in Home Depot during the second quarter valued at approximately $390,913,000. Finally, Legal & General Group Plc acquired a new position in Home Depot during the second quarter valued at approximately $1,953,883,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on HD. Melius Research set a $397.00 price target on Home Depot in a research note on Tuesday, October 6th. JPMorgan Chase & Co. upped their price objective on Home Depot from $396.00 to $400.00 and gave the stock an “overweight” rating in a research note on Monday. Royal Bank Of Canada dropped their price objective on Home Depot from $343.00 to $342.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 19th. Truist Financial increased their price objective on Home Depot from $369.00 to $373.00 and gave the company a “buy” rating in a report on Wednesday, August 19th. Finally, Wells Fargo & Company raised their target price on shares of Home Depot from $360.00 to $400.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $375.45.

Key Home Depot News

Here are the key news stories impacting Home Depot this week:

• Positive Sentiment: JPMorgan raised its price target to $400 from $396 and maintained an “overweight” rating, implying potential upside from the share price cited in the report. JPMorgan rating information
• Positive Sentiment: HD rose in the latest trading session and outperformed the broader market, according to reports. Home Depot rises higher than market
• Neutral Sentiment: Analysts remain cautiously optimistic about Home Depot’s outlook despite the stock’s underperformance relative to the broader market over the past year. Home Depot analyst estimates and ratings
• Negative Sentiment: A housing slowdown, costly debt and a high valuation are cited as challenges, while the stock’s lack of progress over the past five years may weigh on investor confidence. Home Depot’s long-term shareholder returns and challenges

Insiders Place Their Bets

In other news, EVP Teresa Roseborough sold 2,455 shares of Home Depot stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $328.77, for a total transaction of $807,130.35. Following the completion of the transaction, the executive vice president directly owned 14,061 shares in the company, valued at approximately $4,622,834.97. The trade was a 14.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Richard McPhail sold 5,989 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $348.40, for a total value of $2,086,567.60. Following the transaction, the chief financial officer directly owned 48,104 shares in the company, valued at $16,759,433.60. The trade was a 11.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 9,829 shares of company stock valued at $3,339,314. 0.08% of the stock is owned by insiders.

Home Depot Stock Up 3.0%

Shares of HD stock opened at $353.77 on Tuesday. The Home Depot, Inc. has a 52-week low of $277.15 and a 52-week high of $397.63. The stock has a market cap of $352.95 billion, a price-to-earnings ratio of 24.76, a PEG ratio of 2.53 and a beta of 0.93. The firm’s 50-day moving average is $309.90 and its 200-day moving average is $333.92. The company has a debt-to-equity ratio of 2.64, a quick ratio of 0.31 and a current ratio of 1.08.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, August 18th. The home improvement retailer reported $4.92 EPS for the quarter, topping analysts’ consensus estimates of $4.73 by $0.19. The business had revenue of $47.86 billion during the quarter, compared to analysts’ expectations of $47.24 billion. Home Depot had a return on equity of 106.42% and a net margin of 8.41%. Home Depot’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the company posted $4.68 earnings per share. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. Sell-side analysts predict that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 17th. Stockholders of record on Thursday, September 3rd were given a $2.33 dividend. This represents a $9.32 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Thursday, September 3rd. Home Depot’s dividend payout ratio (DPR) is presently 65.22%.

Home Depot Profile

The Home Depot, Inc is a home improvement retailer serving do-it-yourself customers, professional contractors and other businesses. The company sells building materials, tools, hardware, appliances, paint, flooring, and products for home maintenance, repair and renovation, as well as lawn and garden supplies.

In addition to its retail stores and online channels, Home Depot offers services such as product delivery, equipment rental and home improvement installation. The company was founded in 1978 and is headquartered in Atlanta, Georgia.