Granite Harbor Advisors Inc. Increases Stock Holdings in The Home Depot, Inc. $HD

Granite Harbor Advisors Inc. boosted its position in The Home Depot, Inc. (NYSE:HD) by 3.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,194 shares of the home improvement retailer’s stock after purchasing an additional 142 shares during the period. Granite Harbor Advisors Inc.’s holdings in Home Depot were worth $1,538,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Legend Financial Advisors Inc. bought a new position in shares of Home Depot in the second quarter worth about $28,000. Abound Financial LLC bought a new position in shares of Home Depot in the first quarter worth about $31,000. Iron Horse Wealth Management LLC raised its stake in shares of Home Depot by 86.8% in the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer’s stock worth $36,000 after buying an additional 46 shares during the period. Global X Japan Co. Ltd. bought a new position in shares of Home Depot in the second quarter worth about $40,000. Finally, GFG Capital LLC bought a new position in shares of Home Depot in the second quarter worth about $40,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Price Performance

Shares of Home Depot stock opened at $388.56 on Thursday. The stock has a market cap of $386.76 billion, a price-to-earnings ratio of 26.40, a price-to-earnings-growth ratio of 3.71 and a beta of 1.00. 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 stock has a 50 day moving average price of $403.24 and a 200-day moving average price of $378.52. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37.

Home Depot (NYSE:HD) last posted its quarterly earnings data 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 net margin of 8.86% and a return on equity of 193.99%. The business had revenue of $45.28 billion for the quarter, compared to analysts’ expectations of $45.43 billion. During the same quarter in the previous year, the firm earned $4.60 EPS. Home Depot’s revenue was up 4.9% compared to the same quarter last year. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Equities analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The firm also recently disclosed 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 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 presently 62.50%.

Analysts Set New Price Targets

Several research analysts have recently commented on HD shares. DA Davidson reaffirmed a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a research note on Tuesday, August 19th. Wells Fargo & Company lifted their target price on Home Depot from $420.00 to $450.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. Weiss Ratings restated a “buy (b)” rating on shares of Home Depot in a report on Wednesday, October 8th. JPMorgan Chase & Co. cut their price target on Home Depot from $460.00 to $452.00 and set an “overweight” rating for the company in a report on Wednesday, August 20th. Finally, Truist Financial raised their price target on Home Depot from $417.00 to $433.00 and gave the company a “buy” rating in a report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and an average price target of $435.42.

Insider Activity at Home Depot

In related news, EVP William D. Bastek sold 3,783 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $410.23, for a total transaction of $1,551,900.09. Following the completion of the transaction, the executive vice president owned 24,235 shares in the company, valued at $9,941,924.05. The trade was a 13.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Edward P. Decker sold 32,897 shares of the business’s stock in a transaction 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 transaction, the chief executive officer 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 disclosure for this sale can be found here. Insiders have sold 48,835 shares of company stock worth $19,623,432 over the last quarter. 0.10% of the stock is owned by insiders.

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.