The Home Depot, Inc. $HD Shares Sold by Convergence Investment Partners LLC

Convergence Investment Partners LLC lessened its position in shares of The Home Depot, Inc. (NYSE:HD) by 21.3% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 10,033 shares of the home improvement retailer’s stock after selling 2,720 shares during the period. Home Depot makes up approximately 0.9% of Convergence Investment Partners LLC’s portfolio, making the stock its 23rd largest position. Convergence Investment Partners LLC’s holdings in Home Depot were worth $3,678,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Client 1ST Advisory Group LLC grew its position in shares of Home Depot by 1.5% in the first quarter. Client 1ST Advisory Group LLC now owns 1,878 shares of the home improvement retailer’s stock valued at $688,000 after purchasing an additional 27 shares during the period. Financial Insights Inc. grew its position in shares of Home Depot by 3.3% in the first quarter. Financial Insights Inc. now owns 880 shares of the home improvement retailer’s stock valued at $323,000 after purchasing an additional 28 shares during the period. Wayfinding Financial LLC grew its position in shares of Home Depot by 1.2% in the first quarter. Wayfinding Financial LLC now owns 2,353 shares of the home improvement retailer’s stock valued at $862,000 after purchasing an additional 28 shares during the period. Pure Portfolios Holdings LLC grew its position in shares of Home Depot by 4.7% in the first quarter. Pure Portfolios Holdings LLC now owns 623 shares of the home improvement retailer’s stock valued at $228,000 after purchasing an additional 28 shares during the period. Finally, First Interstate Bank grew its position in shares of Home Depot by 0.3% in the first quarter. First Interstate Bank now owns 9,020 shares of the home improvement retailer’s stock valued at $3,306,000 after purchasing an additional 28 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Morgan Stanley lifted their target price on shares of Home Depot from $415.00 to $430.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. Wolfe Research started coverage on shares of Home Depot in a research report on Thursday, September 18th. They issued an “outperform” rating and a $497.00 target price on the stock. Wells Fargo & Company boosted their price target on shares of Home Depot from $420.00 to $450.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. JPMorgan Chase & Co. lowered their price target on shares of Home Depot from $460.00 to $452.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 20th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Home Depot in a research report on Saturday. One 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $435.42.

Insiders Place Their Bets

In other news, CEO Edward P. Decker sold 32,897 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $397.22, for a total value of $13,067,346.34. Following the sale, the chief executive officer directly owned 122,425 shares of the company’s stock, valued at approximately $48,629,658.50. The trade was a 21.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William D. Bastek sold 2,303 shares of the business’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 completion of the sale, the executive vice president directly owned 24,235 shares in the company, valued at $10,254,313.20. This trade represents a 8.68% 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.

Home Depot Price Performance

Shares of HD stock opened at $386.83 on Monday. 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 firm’s 50-day moving average is $402.68 and its two-hundred day moving average is $379.68. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37. The company has a market capitalization of $385.04 billion, a PE ratio of 26.28, a price-to-earnings-growth ratio of 3.67 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 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 for the quarter, compared to analysts’ expectations of $45.43 billion. During the same period last year, the firm earned $4.60 earnings per share. Home Depot’s revenue for the quarter was up 4.9% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were paid 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 yield of 2.4%. Home Depot’s 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.