Tower View Wealth Management LLC Raises Position in The Home Depot, Inc. $HD

Tower View Wealth Management LLC boosted its stake in The Home Depot, Inc. (NYSE:HD) by 4.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 16,196 shares of the home improvement retailer’s stock after buying an additional 671 shares during the quarter. Home Depot comprises 3.1% of Tower View Wealth Management LLC’s holdings, making the stock its 13th largest holding. Tower View Wealth Management LLC’s holdings in Home Depot were worth $5,938,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Legend Financial Advisors Inc. purchased a new position in shares of Home Depot in the 2nd quarter valued at approximately $28,000. Abound Financial LLC bought a new position in Home Depot in the first quarter worth $31,000. Iron Horse Wealth Management LLC lifted its position in Home Depot by 86.8% during the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer’s stock valued at $36,000 after buying an additional 46 shares during the period. Global X Japan Co. Ltd. purchased a new position in Home Depot during the second quarter valued at $40,000. Finally, Compass Financial Services Inc bought a new stake in shares of Home Depot during the 1st quarter valued at $41,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on HD shares. Truist Financial increased their price target on shares of Home Depot from $417.00 to $433.00 and gave the stock a “buy” rating in a research note on Wednesday, August 13th. Wolfe Research started coverage on shares of Home Depot in a research note on Thursday, September 18th. They set an “outperform” rating and a $497.00 target price for the company. DA Davidson reissued a “buy” rating and issued a $450.00 price target on shares of Home Depot in a research report on Tuesday, August 19th. Robert W. Baird raised their price objective on Home Depot from $425.00 to $450.00 and gave the company an “outperform” rating in a research report on Wednesday, August 20th. Finally, Morgan Stanley boosted their target price on Home Depot from $415.00 to $430.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. One 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 company. According to data from MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and a consensus target price of $436.40.

Home Depot Trading Down 0.6%

Shares of NYSE:HD opened at $394.56 on Friday. 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 Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37. The company has a market cap of $392.74 billion, a P/E ratio of 26.80, a PEG ratio of 3.76 and a beta of 1.00. The stock’s fifty day moving average price is $402.24 and its 200-day moving average price is $375.89.

Home Depot (NYSE:HD) last issued 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 business had revenue of $45.28 billion during 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%.Home Depot’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the firm posted $4.60 EPS. 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 earnings per share for the current year.

Home Depot Announces Dividend

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

Insider Buying and Selling

In other Home Depot news, EVP William D. Bastek sold 2,303 shares of Home Depot stock in a transaction that occurred 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 sale, the executive vice president owned 24,235 shares of the company’s stock, valued at approximately $10,254,313.20. The trade was a 8.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Richard V. Mcphail sold 3,369 shares of the business’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 sale, the chief financial officer owned 45,455 shares of the company’s stock, valued at approximately $18,348,365.30. This represents a 6.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 48,835 shares of company stock valued at $19,623,432 in the last ninety days. 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.