Main Street Research LLC Sells 243 Shares of The Home Depot, Inc. $HD

Main Street Research LLC trimmed its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 19.4% during the second quarter, HoldingsChannel reports. The fund owned 1,011 shares of the home improvement retailer’s stock after selling 243 shares during the quarter. Main Street Research LLC’s holdings in Home Depot were worth $371,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Legend Financial Advisors Inc. bought a new stake in shares of Home Depot in the 2nd quarter valued at $28,000. Abound Financial LLC bought a new stake in shares of Home Depot in the 1st quarter valued at $31,000. Iron Horse Wealth Management LLC boosted its stake in shares of Home Depot by 86.8% in the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer’s stock valued at $36,000 after purchasing an additional 46 shares during the last quarter. Global X Japan Co. Ltd. bought a new stake in shares of Home Depot in the 2nd quarter valued at $40,000. Finally, GFG Capital LLC acquired a new position in shares of Home Depot during the 2nd quarter valued at $40,000. 70.86% of the stock is owned by institutional investors.

Insider Buying and Selling

In other 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 value of $13,067,346.34. Following the completion of 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction of $2,265,740.09. Following the completion of the sale, the executive vice president owned 16,057 shares of the company’s stock, valued at approximately $6,635,234.11. This represents a 25.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 48,835 shares of company stock valued at $19,623,432 over the last 90 days. 0.10% of the stock is currently owned by company insiders.

Home Depot Stock Performance

Shares of HD stock opened at $382.83 on Wednesday. The firm has a 50-day moving average of $399.46 and a 200-day moving average of $381.24. The company has a market cap of $381.06 billion, a P/E ratio of 26.01, a P/E/G ratio of 3.59 and a beta of 1.00. 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 one year low of $326.31 and a one year high of $439.37.

Home Depot (NYSE:HD) last announced its earnings results 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 during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Equities research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were issued a $2.30 dividend. The ex-dividend date was Thursday, September 4th. This represents a $9.20 annualized dividend and a dividend yield of 2.4%. Home Depot’s dividend payout ratio is currently 62.50%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on HD. Wells Fargo & Company boosted their target price on shares of Home Depot from $420.00 to $450.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. Wolfe Research began coverage on shares of Home Depot in a research report on Thursday, September 18th. They set an “outperform” rating and a $497.00 target price on the stock. JPMorgan Chase & Co. dropped their target price 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. DA Davidson restated a “buy” rating and set a $450.00 price objective on shares of Home Depot in a report on Tuesday, August 19th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a report on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $435.00.

Home Depot 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.