Institute for Wealth Management LLC. Cuts Stake in The Home Depot, Inc. $HD

Institute for Wealth Management LLC. lowered its stake in shares of The Home Depot, Inc. (NYSE:HD) by 4.0% in the second quarter, Holdings Channel reports. The firm owned 5,153 shares of the home improvement retailer’s stock after selling 213 shares during the period. Institute for Wealth Management LLC.’s holdings in Home Depot were worth $1,889,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Brighton Jones LLC boosted its position in Home Depot by 36.5% during the fourth quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock worth $10,471,000 after acquiring an additional 7,203 shares during the last quarter. Affiance Financial LLC boosted its position in Home Depot by 7.3% during the first quarter. Affiance Financial LLC now owns 590 shares of the home improvement retailer’s stock worth $216,000 after acquiring an additional 40 shares during the last quarter. Merit Financial Group LLC boosted its position in Home Depot by 15.5% during the first quarter. Merit Financial Group LLC now owns 55,063 shares of the home improvement retailer’s stock worth $20,180,000 after acquiring an additional 7,397 shares during the last quarter. Kwmg LLC boosted its position in Home Depot by 1.3% during the first quarter. Kwmg LLC now owns 16,699 shares of the home improvement retailer’s stock worth $6,120,000 after acquiring an additional 210 shares during the last quarter. Finally, Sentry Investment Management LLC boosted its position in Home Depot by 20.2% during the first quarter. Sentry Investment Management LLC now owns 3,204 shares of the home improvement retailer’s stock worth $1,094,000 after acquiring an additional 539 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insiders Place Their Bets

In related news, EVP William D. Bastek sold 2,303 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $423.12, for a total transaction of $974,445.36. Following the sale, the executive vice president directly owned 24,235 shares of the company’s stock, valued at $10,254,313.20. This represents a 8.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Edward P. Decker sold 32,897 shares of the company’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 transaction of $13,067,346.34. Following the sale, the chief executive officer directly owned 122,425 shares in the company, valued at approximately $48,629,658.50. The trade was a 21.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,835 shares of company stock worth $19,623,432. Insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Truist Financial boosted their price target on shares of Home Depot from $417.00 to $433.00 and gave the stock a “buy” rating in a research report on Wednesday, August 13th. Wolfe Research initiated coverage on shares of Home Depot in a research report on Thursday, September 18th. They set an “outperform” rating and a $497.00 price target on the stock. Oppenheimer boosted their target price on shares of Home Depot from $400.00 to $420.00 and gave the company a “market perform” rating in a report on Thursday, September 25th. 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. Finally, Morgan Stanley boosted their target price on shares of Home Depot from $415.00 to $430.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $436.40.

Home Depot Price Performance

Home Depot stock opened at $405.25 on Wednesday. The company’s 50 day simple moving average is $401.39 and its 200-day simple moving average is $375.46. The company has a market capitalization of $403.38 billion, a price-to-earnings ratio of 27.53, a price-to-earnings-growth ratio of 3.86 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. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15.

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

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Thursday, September 4th. Home Depot’s payout ratio is 62.50%.

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.