Salomon & Ludwin LLC Has $385,000 Stock Position in The Home Depot, Inc. $HD

Salomon & Ludwin LLC increased its position in shares of The Home Depot, Inc. (NYSE:HD) by 4.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,036 shares of the home improvement retailer’s stock after purchasing an additional 42 shares during the quarter. Salomon & Ludwin LLC’s holdings in Home Depot were worth $385,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HD. Legend Financial Advisors Inc. acquired a new stake in Home Depot in the 2nd quarter valued at about $28,000. Abound Financial LLC bought a new position in shares of Home Depot in the 1st quarter valued at about $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 position in shares of Home Depot in the 2nd quarter valued at about $40,000. Finally, GFG Capital LLC bought a new stake in Home Depot in the second quarter valued at about $40,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on HD. Morgan Stanley upped their price objective on Home Depot from $415.00 to $430.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. Truist Financial lifted their price objective on shares of Home Depot from $417.00 to $433.00 and gave the stock a “buy” rating in a research note on Wednesday, August 13th. Telsey Advisory Group reissued an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a research note on Tuesday, August 19th. JPMorgan Chase & Co. reduced their price objective on shares of Home Depot from $460.00 to $452.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 20th. Finally, Oppenheimer lifted their price objective on shares of Home Depot from $400.00 to $420.00 and gave the stock a “market perform” rating in a research note on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $435.42.

Insider Transactions at Home Depot

In other Home Depot news, CEO Edward P. Decker sold 32,897 shares of the company’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 directly owned 122,425 shares in the company, valued at $48,629,658.50. The trade was a 21.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William D. Bastek sold 3,783 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were 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 approximately $9,941,924.05. This represents a 13.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,835 shares of company stock valued at $19,623,432. Corporate insiders own 0.10% of the company’s stock.

Home Depot Price Performance

Shares of HD opened at $391.79 on Friday. The company has a market cap of $389.98 billion, a price-to-earnings ratio of 26.62, a PEG ratio of 3.72 and a beta of 1.00. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37. The company’s fifty day simple moving average is $403.70 and its 200 day simple moving average is $377.97. The company has a current ratio of 1.15, a quick ratio of 0.34 and a debt-to-equity ratio of 4.31.

Home Depot (NYSE:HD) last issued its 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 firm had revenue of $45.28 billion for the quarter, compared to analyst estimates of $45.43 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.Home Depot’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were issued a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Thursday, September 4th. Home Depot’s payout ratio is currently 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.