Profund Advisors LLC Reduces Holdings in The Home Depot, Inc. $HD

Profund Advisors LLC cut its stake in The Home Depot, Inc. (NYSE:HD) by 5.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,955 shares of the home improvement retailer’s stock after selling 1,013 shares during the quarter. Profund Advisors LLC’s holdings in Home Depot were worth $6,583,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Legend Financial Advisors Inc. purchased a new stake in shares of Home Depot during the 2nd quarter worth $28,000. LFA Lugano Financial Advisors SA purchased a new stake in Home Depot during the second quarter worth about $32,000. Legacy Investment Solutions LLC purchased a new position in Home Depot during the 2nd quarter valued at about $35,000. Iron Horse Wealth Management LLC lifted its position 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 valued at $36,000 after acquiring an additional 46 shares in the last quarter. Finally, Global X Japan Co. Ltd. acquired a new stake in Home Depot during the second quarter worth approximately $40,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Home Depot from $460.00 to $452.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 20th. Mizuho lifted their price objective on shares of Home Depot from $435.00 to $450.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 20th. Truist Financial lowered their target price on shares of Home Depot from $454.00 to $421.00 and set a “buy” rating on the stock in a research report on Friday. Oppenheimer boosted their price target on Home Depot from $400.00 to $420.00 and gave the company a “market perform” rating in a research note on Thursday, September 25th. Finally, Stifel Nicolaus raised their price target on Home Depot from $425.00 to $432.00 and gave the company a “buy” rating in a report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and an average price target of $434.82.

Home Depot Stock Performance

NYSE HD opened at $370.71 on Monday. 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 has a fifty day simple moving average of $397.28 and a 200 day simple moving average of $381.63. 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 $369.00 billion, a P/E ratio of 25.18, a PEG ratio of 3.59 and a beta of 1.00.

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). Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The business had revenue of $45.28 billion during the quarter, compared to analysts’ expectations of $45.43 billion. During the same period in the prior year, the firm posted $4.60 EPS. 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. Sell-side analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were issued a $2.30 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $9.20 annualized dividend and a dividend yield of 2.5%. Home Depot’s dividend payout ratio (DPR) is presently 62.50%.

Insider Activity at Home Depot

In other Home Depot news, EVP William D. Bastek sold 2,303 shares of the company’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $423.12, for a total value of $974,445.36. Following the completion of the transaction, the executive vice president directly owned 24,235 shares in the company, valued at approximately $10,254,313.20. This represents a 8.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Richard V. Mcphail sold 3,369 shares of Home Depot stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $403.66, for a total transaction of $1,359,930.54. Following the transaction, the chief financial officer owned 45,455 shares of the company’s stock, valued at $18,348,365.30. The trade was a 6.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 48,835 shares of company stock worth $19,623,432 in the last three months. 0.10% of the stock is owned by insiders.

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.