Narwhal Capital Management Increases Stock Position in The Home Depot, Inc. $HD

Narwhal Capital Management grew its stake in shares of The Home Depot, Inc. (NYSE:HD) by 12.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 66,967 shares of the home improvement retailer’s stock after buying an additional 7,603 shares during the period. Home Depot accounts for approximately 2.0% of Narwhal Capital Management’s holdings, making the stock its 11th biggest holding. Narwhal Capital Management’s holdings in Home Depot were worth $24,553,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Brighton Jones LLC boosted its position in Home Depot by 36.5% during the 4th quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock worth $10,471,000 after purchasing an additional 7,203 shares during the period. Wedge Capital Management L L P NC boosted its position in Home Depot by 4.1% during the 1st quarter. Wedge Capital Management L L P NC now owns 1,698 shares of the home improvement retailer’s stock worth $622,000 after purchasing an additional 67 shares during the period. Pallas Capital Advisors LLC boosted its position in Home Depot by 2.9% during the 1st quarter. Pallas Capital Advisors LLC now owns 2,416 shares of the home improvement retailer’s stock worth $885,000 after purchasing an additional 69 shares during the period. GAMMA Investing LLC boosted its position in Home Depot by 7.2% during the 1st quarter. GAMMA Investing LLC now owns 27,932 shares of the home improvement retailer’s stock worth $10,237,000 after purchasing an additional 1,880 shares during the period. Finally, Collier Financial boosted its position in Home Depot by 893.2% during the 1st quarter. Collier Financial now owns 586 shares of the home improvement retailer’s stock worth $215,000 after purchasing an additional 527 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on HD shares. Morgan Stanley upped their price target on shares of Home Depot from $415.00 to $430.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. Wells Fargo & Company boosted their price objective on shares of Home Depot from $420.00 to $450.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. Mizuho boosted their price objective on shares of Home Depot from $435.00 to $450.00 and gave the stock an “outperform” rating in a report on Wednesday, August 20th. Stifel Nicolaus boosted their price objective on shares of Home Depot from $425.00 to $432.00 and gave the stock a “buy” rating in a report on Monday, August 18th. Finally, Wolfe Research assumed coverage on shares of Home Depot in a report on Thursday, September 18th. They issued an “outperform” rating and a $497.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $435.42.

Insiders Place Their Bets

In related news, CEO Edward P. Decker sold 32,897 shares of the stock in a transaction dated 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 sale, the chief executive officer owned 122,425 shares in the company, valued at $48,629,658.50. This represents a 21.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Richard V. Mcphail sold 3,369 shares of the 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 sale, the chief financial officer owned 45,455 shares in the company, valued at approximately $18,348,365.30. This trade represents a 6.90% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,835 shares of company stock worth $19,623,432. Company insiders own 0.10% of the company’s stock.

Home Depot Stock Performance

Shares of Home Depot stock opened at $383.84 on Thursday. The firm has a market cap of $382.07 billion, a PE ratio of 26.08, a price-to-earnings-growth ratio of 3.67 and a beta of 1.00. The firm’s 50-day simple moving average is $403.30 and its 200-day simple moving average is $376.89. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15. 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 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). The company had revenue of $45.28 billion during the quarter, compared to analyst estimates of $45.43 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The business’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 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Equities analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently announced 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 2.4%. The ex-dividend date was Thursday, September 4th. Home Depot’s dividend 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.