Advisors Capital Management LLC Boosts Stake in The Home Depot, Inc. $HD

Advisors Capital Management LLC increased its position in The Home Depot, Inc. (NYSE:HD) by 10.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 134,949 shares of the home improvement retailer’s stock after purchasing an additional 12,815 shares during the period. Advisors Capital Management LLC’s holdings in Home Depot were worth $49,458,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Client 1ST Advisory Group LLC lifted its holdings in shares of Home Depot by 1.5% in the 1st quarter. Client 1ST Advisory Group LLC now owns 1,878 shares of the home improvement retailer’s stock valued at $688,000 after purchasing an additional 27 shares during the last quarter. Invst LLC increased its position in Home Depot by 0.4% in the 4th quarter. Invst LLC now owns 6,738 shares of the home improvement retailer’s stock valued at $2,621,000 after acquiring an additional 28 shares during the period. Financial Insights Inc. increased its position in Home Depot by 3.3% in the 1st quarter. Financial Insights Inc. now owns 880 shares of the home improvement retailer’s stock valued at $323,000 after acquiring an additional 28 shares during the period. Wayfinding Financial LLC increased its position in Home Depot by 1.2% in the 1st quarter. Wayfinding Financial LLC now owns 2,353 shares of the home improvement retailer’s stock valued at $862,000 after acquiring an additional 28 shares during the period. Finally, Pure Portfolios Holdings LLC increased its position in Home Depot by 4.7% in the 1st quarter. Pure Portfolios Holdings LLC now owns 623 shares of the home improvement retailer’s stock valued at $228,000 after acquiring an additional 28 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on HD shares. Truist Financial boosted 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. Jefferies Financial Group dropped their price target on Home Depot from $461.00 to $456.00 in a research report on Tuesday, May 20th. Royal Bank Of Canada dropped their price target on Home Depot from $424.00 to $399.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 15th. JPMorgan Chase & Co. dropped their price target on Home Depot from $460.00 to $452.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 20th. Finally, TD Securities cut Home Depot to a “buy” rating in a research report on Monday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and an average target price of $432.52.

Home Depot Stock Performance

NYSE HD opened at $413.50 on Thursday. 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 business’s 50 day moving average is $387.95 and its two-hundred day moving average is $371.97. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37. The stock has a market capitalization of $411.59 billion, a price-to-earnings ratio of 28.09, a PEG ratio of 3.94 and a beta of 1.00.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $45.43 billion. During the same quarter in the previous year, the firm posted $4.60 EPS. The business’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. Research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be paid a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $9.20 annualized dividend and a dividend yield of 2.2%. Home Depot’s payout ratio is 62.50%.

Insider Buying and Selling at Home Depot

In other news, 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 transaction 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Edward P. Decker sold 32,897 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $397.22, for a total value of $13,067,346.34. Following the sale, the chief executive officer directly owned 122,425 shares in the company, valued at $48,629,658.50. This trade represents a 21.18% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,532 shares of company stock worth $18,648,987. Corporate insiders own 0.10% of the company’s stock.

Home Depot Company 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.