Manitou Investment Management Ltd. Sells 30,004 Shares of The Home Depot, Inc. $HD

Manitou Investment Management Ltd. cut its holdings in The Home Depot, Inc. (NYSE:HD) by 44.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,869 shares of the home improvement retailer’s stock after selling 30,004 shares during the quarter. Home Depot makes up about 2.7% of Manitou Investment Management Ltd.’s investment portfolio, making the stock its 12th largest position. Manitou Investment Management Ltd.’s holdings in Home Depot were worth $15,344,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Legend Financial Advisors Inc. acquired a new position in shares of Home Depot during the second quarter worth $28,000. Sagard Holdings Management Inc. purchased a new position in shares of Home Depot in the second quarter worth about $29,000. LFA Lugano Financial Advisors SA acquired a new stake in Home Depot during the 2nd quarter valued at approximately $32,000. Dougherty Wealth Advisers LLC acquired a new position in Home Depot during the third quarter valued at $38,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of Home Depot during the 2nd quarter valued at about $35,000. 70.86% of the stock is owned by institutional investors.

Home Depot Stock Down 0.7%

Home Depot stock opened at $347.38 on Tuesday. The stock’s fifty day moving average is $360.59 and its two-hundred day moving average is $378.02. The company has a debt-to-equity ratio of 3.82, a current ratio of 1.05 and a quick ratio of 0.29. The stock has a market cap of $345.82 billion, a PE ratio of 23.68, a P/E/G ratio of 13.03 and a beta of 1.06. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $426.75.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share for the quarter, missing the consensus estimate of $3.83 by ($0.09). The firm had revenue of $41.35 billion during the quarter, compared to analysts’ expectations of $41.06 billion. Home Depot had a net margin of 8.77% and a return on equity of 160.74%. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $3.78 earnings per share. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. On average, sell-side analysts expect 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, December 18th. Stockholders of record on Thursday, December 4th were issued a $2.30 dividend. The ex-dividend date of this dividend was Thursday, December 4th. This represents a $9.20 annualized dividend and a dividend yield of 2.6%. Home Depot’s payout ratio is presently 62.71%.

Wall Street Analysts Forecast Growth

HD has been the subject of several recent analyst reports. The Goldman Sachs Group restated a “buy” rating and issued a $413.00 price target on shares of Home Depot in a research note on Wednesday, December 10th. Morgan Stanley reissued an “outperform” rating on shares of Home Depot in a research note on Wednesday, December 10th. BNP Paribas Exane upped their price objective on shares of Home Depot from $353.00 to $355.00 and gave the company a “neutral” rating in a report on Friday, December 5th. UBS Group set a $430.00 price target on Home Depot in a report on Wednesday, December 10th. Finally, Oppenheimer decreased their price target on Home Depot from $420.00 to $405.00 and set a “market perform” rating on the stock in a research note on Friday, December 5th. Twenty-one investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $402.10.

Insider Transactions at Home Depot

In other Home Depot news, EVP Ann Marie Campbell sold 145 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $358.26, for a total transaction of $51,947.70. Following the transaction, the executive vice president owned 12,320 shares in the company, valued at approximately $4,413,763.20. The trade was a 1.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Angie Brown sold 1,946 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $357.63, for a total value of $695,947.98. Following the completion of the transaction, the executive vice president owned 3,941 shares of the company’s stock, valued at $1,409,419.83. The trade was a 33.06% decrease in their position. The SEC filing for this sale provides additional information. 0.10% of the stock is owned by company insiders.

About Home Depot

The Home Depot, Inc (NYSE: HD) is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.

Home Depot’s core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.