QRG Capital Management Inc. Raises Holdings in The Home Depot, Inc. $HD

QRG Capital Management Inc. grew its position in shares of The Home Depot, Inc. (NYSE:HD) by 7.3% during the second quarter, Holdings Channel reports. The institutional investor owned 162,279 shares of the home improvement retailer’s stock after purchasing an additional 11,107 shares during the quarter. Home Depot accounts for 0.5% of QRG Capital Management Inc.’s holdings, making the stock its 28th largest holding. QRG Capital Management Inc.’s holdings in Home Depot were worth $59,498,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Tower View Wealth Management LLC lifted its position in shares of Home Depot by 4.3% during the 2nd quarter. Tower View Wealth Management LLC now owns 16,196 shares of the home improvement retailer’s stock valued at $5,938,000 after buying an additional 671 shares during the last quarter. Ransom Advisory Ltd bought a new stake in shares of Home Depot during the 1st quarter valued at $3,851,000. Financial Gravity Asset Management Inc. bought a new stake in shares of Home Depot during the 1st quarter valued at $406,000. Arbor Capital Management Inc. ADV raised its stake in shares of Home Depot by 4.8% during the 1st quarter. Arbor Capital Management Inc. ADV now owns 4,784 shares of the home improvement retailer’s stock valued at $1,757,000 after purchasing an additional 221 shares during the period. Finally, Focus Partners Wealth raised its stake in shares of Home Depot by 4.1% during the 1st quarter. Focus Partners Wealth now owns 423,287 shares of the home improvement retailer’s stock valued at $155,131,000 after purchasing an additional 16,654 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on HD. JPMorgan Chase & Co. decreased their price objective on Home Depot from $460.00 to $452.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Home Depot in a research note on Saturday, September 27th. Morgan Stanley upped their target price on Home Depot from $415.00 to $430.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. Oppenheimer upped their target price on Home Depot from $400.00 to $420.00 and gave the stock a “market perform” rating in a research note on Thursday, September 25th. Finally, Truist Financial upped their target price on Home Depot from $417.00 to $433.00 and gave the stock a “buy” rating in a research note on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $436.40.

Insider Activity

In related news, EVP Angie Brown sold 1,000 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $404.07, for a total transaction of $404,070.00. Following the completion of the sale, the executive vice president directly owned 3,837 shares in the company, valued at $1,550,416.59. This represents a 20.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of the 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 sale, the executive vice president owned 16,057 shares of the company’s stock, valued at $6,635,234.11. This represents a 25.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 48,835 shares of company stock worth $19,623,432. 0.10% of the stock is currently owned by insiders.

Home Depot Price Performance

Shares of Home Depot stock opened at $394.88 on Friday. 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 market capitalization of $393.06 billion, a PE ratio of 26.83, a price-to-earnings-growth ratio of 3.75 and a beta of 1.00. The business’s 50-day moving average price is $402.63 and its 200-day moving average price is $376.21. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, August 19th. The home improvement retailer reported $4.68 EPS for the quarter, missing the consensus estimate of $4.69 by ($0.01). The firm had revenue of $45.28 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last 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 forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders 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 annualized dividend and a dividend yield of 2.3%. Home Depot’s dividend payout ratio is 62.50%.

About Home Depot

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.