The Home Depot, Inc. $HD Position Cut by Pinnacle West Asset Management Inc.

Pinnacle West Asset Management Inc. decreased its stake in The Home Depot, Inc. (NYSE:HD) by 0.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,885 shares of the home improvement retailer’s stock after selling 50 shares during the quarter. Home Depot comprises 2.3% of Pinnacle West Asset Management Inc.’s portfolio, making the stock its 9th biggest holding. Pinnacle West Asset Management Inc.’s holdings in Home Depot were worth $3,258,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of HD. Legend Financial Advisors Inc. purchased a new position in shares of Home Depot in the 2nd quarter worth approximately $28,000. Abound Financial LLC purchased a new position in shares of Home Depot in the 1st quarter worth approximately $31,000. Iron Horse Wealth Management LLC boosted its holdings 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 worth $36,000 after purchasing an additional 46 shares during the period. Global X Japan Co. Ltd. purchased a new position in shares of Home Depot in the 2nd quarter worth approximately $40,000. Finally, GFG Capital LLC purchased a new position in shares of Home Depot in the 2nd quarter worth approximately $40,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Trading Down 0.5%

HD opened at $375.86 on Friday. The stock’s fifty day moving average is $403.54 and its two-hundred day moving average is $377.09. The company has a market capitalization of $374.13 billion, a P/E ratio of 25.53, a PEG ratio of 3.58 and a beta of 1.00. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31.

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

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were issued a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.4%. The ex-dividend date was Thursday, September 4th. Home Depot’s dividend payout ratio (DPR) is presently 62.50%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Telsey Advisory Group reiterated an “outperform” rating and issued a $455.00 price target on shares of Home Depot in a report on Tuesday, August 19th. Oppenheimer increased their price target on Home Depot from $400.00 to $420.00 and gave the stock a “market perform” rating in a report on Thursday, September 25th. Truist Financial increased their price target on Home Depot from $417.00 to $433.00 and gave the stock a “buy” rating in a report on Wednesday, August 13th. DA Davidson reiterated a “buy” rating and issued a $450.00 price target on shares of Home Depot in a report on Tuesday, August 19th. Finally, Stifel Nicolaus increased their price target on Home Depot from $425.00 to $432.00 and gave the stock a “buy” rating in a report on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and an average price target of $435.42.

Insider Buying and Selling at Home Depot

In other Home Depot news, CEO Edward P. Decker sold 32,897 shares of the stock in a transaction on Thursday, August 21st. The stock was 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 of the company’s stock, valued at approximately $48,629,658.50. This trade represents a 21.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $413.23, for a total value of $2,265,740.09. Following the sale, the executive vice president directly owned 16,057 shares in the company, valued at $6,635,234.11. This trade represents a 25.45% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,835 shares of company stock worth $19,623,432. 0.10% of the stock is currently owned by company insiders.

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.