Blodgett Wealth Advisors LLC Boosts Stock Holdings in The Home Depot, Inc. $HD

Blodgett Wealth Advisors LLC boosted its position in The Home Depot, Inc. (NYSE:HD) by 0.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,856 shares of the home improvement retailer’s stock after purchasing an additional 31 shares during the period. Home Depot comprises approximately 1.7% of Blodgett Wealth Advisors LLC’s portfolio, making the stock its 12th biggest holding. Blodgett Wealth Advisors LLC’s holdings in Home Depot were worth $2,147,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. Abound Financial LLC bought a new stake in Home Depot during the 1st quarter valued at $31,000. Iron Horse Wealth Management LLC raised its holdings in Home Depot by 86.8% during the 1st 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 during the period. Compass Financial Services Inc bought a new stake in Home Depot during the 1st quarter valued at $41,000. Livelsberger Financial Advisory bought a new stake in Home Depot during the 2nd quarter valued at $41,000. Finally, Quest 10 Wealth Builders Inc. raised its holdings in Home Depot by 35.7% during the 1st quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer’s stock valued at $42,000 after acquiring an additional 30 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

Home Depot stock opened at $421.87 on Wednesday. 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 firm has a 50-day moving average of $392.22 and a 200-day moving average of $372.74. The firm has a market cap of $419.93 billion, a P/E ratio of 28.66, a P/E/G ratio of 4.01 and a beta of 1.00. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share for the quarter, missing analysts’ consensus estimates of $4.69 by ($0.01). The firm had revenue of $45.28 billion for the quarter, compared to analysts’ expectations of $45.43 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Sell-side analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

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

Insider Activity at Home Depot

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,483 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 16,057 shares in the company, valued at $6,635,234.11. This trade represents a 25.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Richard V. Mcphail sold 3,369 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $403.66, for a total transaction of $1,359,930.54. Following the completion of the sale, the chief financial officer owned 45,455 shares of the company’s stock, valued at $18,348,365.30. This trade represents a 6.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,835 shares of company stock valued at $19,623,432 in the last quarter. 0.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Guggenheim reissued a “buy” rating and set a $450.00 target price on shares of Home Depot in a report on Wednesday, May 21st. Stifel Nicolaus boosted their target price on shares of Home Depot from $425.00 to $432.00 and gave the company a “buy” rating in a report on Monday, August 18th. Wells Fargo & Company boosted their target price on shares of Home Depot from $420.00 to $450.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $398.00 price target (up previously from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. Finally, Truist Financial upped their price target on shares of Home Depot from $417.00 to $433.00 and gave the stock a “buy” rating in a report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $432.52.

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.