Penserra Capital Management LLC Lowers Stock Position in The Home Depot, Inc. $HD

Penserra Capital Management LLC cut its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 8.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,998 shares of the home improvement retailer’s stock after selling 488 shares during the period. Penserra Capital Management LLC’s holdings in Home Depot were worth $1,831,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Legend Financial Advisors Inc. bought a new position in shares of Home Depot in the 2nd quarter worth $28,000. Global X Japan Co. Ltd. purchased a new position in Home Depot in the second quarter valued at about $40,000. Nexus Investment Management ULC bought a new position in Home Depot in the second quarter worth about $40,000. GFG Capital LLC bought a new position in Home Depot in the second quarter worth about $40,000. Finally, Livelsberger Financial Advisory purchased a new stake in shares of Home Depot during the second quarter valued at about $41,000. Institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Home Depot from $452.00 to $444.00 and set an “overweight” rating on the stock in a research report on Monday. Truist Financial reduced their price target on Home Depot from $454.00 to $421.00 and set a “buy” rating on the stock in a research report on Friday. Oppenheimer increased their price objective on Home Depot from $400.00 to $420.00 and gave the company a “market perform” rating in a report on Thursday, September 25th. Morgan Stanley raised their price objective on Home Depot from $415.00 to $430.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. Finally, Wells Fargo & Company upped their target price on Home Depot from $420.00 to $450.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and a consensus price target of $434.45.

Insider Transactions at Home Depot

In other Home Depot news, CEO Edward P. Decker sold 32,897 shares of Home Depot stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the completion of 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Richard V. Mcphail sold 3,369 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer directly owned 45,455 shares in the company, valued at $18,348,365.30. This trade represents a 6.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 48,835 shares of company stock valued at $19,623,432 over the last quarter. Company insiders own 0.10% of the company’s stock.

Home Depot Price Performance

Shares of HD opened at $370.18 on Tuesday. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.34. The company’s fifty day moving average price is $396.54 and its 200-day moving average price is $381.71. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37. The firm has a market capitalization of $368.47 billion, a PE ratio of 25.15, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.

Home Depot (NYSE:HD) last issued its 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). Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The firm had revenue of $45.28 billion during the quarter, compared to analysts’ expectations of $45.43 billion. During the same quarter last year, the business earned $4.60 EPS. The business’s revenue was up 4.9% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, equities research analysts predict 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 was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were issued a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.5%. Home Depot’s payout ratio is 62.50%.

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.