Inspire Investing LLC Takes Position in The Home Depot, Inc. $HD

Inspire Investing LLC bought a new stake in shares of The Home Depot, Inc. (NYSE:HD) during the second quarter, Holdings Channel reports. The fund bought 7,134 shares of the home improvement retailer’s stock, valued at approximately $2,616,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Legend Financial Advisors Inc. purchased a new position in shares of Home Depot during the 2nd quarter valued at approximately $28,000. Abound Financial LLC acquired a new position in Home Depot in the 1st quarter valued at $31,000. Iron Horse Wealth Management LLC raised its stake in 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. acquired a new position in Home Depot in the 2nd quarter valued at $40,000. Finally, GFG Capital LLC acquired a new position in Home Depot in the 2nd quarter valued at $40,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

HD has been the subject of several recent research reports. Oppenheimer increased their price objective on Home Depot from $400.00 to $420.00 and gave the company a “market perform” rating in a research note on Thursday, September 25th. Wolfe Research initiated coverage on Home Depot in a research note on Thursday, September 18th. They issued an “outperform” rating and a $497.00 price objective for the company. Stifel Nicolaus increased their price objective on Home Depot from $425.00 to $432.00 and gave the company a “buy” rating in a research note on Monday, August 18th. Telsey Advisory Group reissued an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a research note on Tuesday, August 19th. Finally, Wells Fargo & Company increased their price objective on Home Depot from $420.00 to $450.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $435.42.

Insiders Place Their Bets

In other news, CFO Richard V. Mcphail sold 3,369 shares of Home Depot stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $403.66, for a total value of $1,359,930.54. Following the completion of the transaction, the chief financial officer owned 45,455 shares in the company, valued at approximately $18,348,365.30. This trade represents a 6.90% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Angie Brown sold 1,000 shares of Home Depot stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total value of $404,070.00. Following the completion of the transaction, the executive vice president owned 3,837 shares of the company’s stock, valued at $1,550,416.59. The trade was a 20.67% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,835 shares of company stock worth $19,623,432. Corporate insiders own 0.10% of the company’s stock.

Home Depot Stock Down 0.5%

Shares of HD opened at $375.86 on Friday. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37. The company has a market capitalization of $374.13 billion, a PE ratio of 25.53, a price-to-earnings-growth ratio of 3.58 and a beta of 1.00. The stock has a fifty day simple moving average of $403.54 and a two-hundred day simple moving average of $377.09. 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 results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share for the quarter, missing analysts’ consensus estimates of $4.69 by ($0.01). The business 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 business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, equities analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The company also recently announced 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. This represents a $9.20 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Thursday, September 4th. Home Depot’s dividend payout ratio (DPR) is 62.50%.

Home Depot Company 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.