New World Advisors LLC Buys 636 Shares of The Home Depot, Inc. $HD

New World Advisors LLC raised its position in shares of The Home Depot, Inc. (NYSE:HD) by 29.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,767 shares of the home improvement retailer’s stock after acquiring an additional 636 shares during the period. Home Depot makes up approximately 0.2% of New World Advisors LLC’s investment portfolio, making the stock its 18th largest position. New World Advisors LLC’s holdings in Home Depot were worth $1,014,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Mainstay Capital Management LLC ADV bought a new position in shares of Home Depot in the second quarter worth $263,000. WealthPlan Investment Management LLC acquired a new stake in Home Depot during the second quarter worth about $1,149,000. Tower View Wealth Management LLC increased its holdings in Home Depot by 4.3% in the 2nd quarter. Tower View Wealth Management LLC now owns 16,196 shares of the home improvement retailer’s stock valued at $5,938,000 after buying an additional 671 shares during the period. Ransom Advisory Ltd acquired a new position in shares of Home Depot in the 1st quarter valued at approximately $3,851,000. Finally, Shell Asset Management Co. raised its position in shares of Home Depot by 45.2% in the 2nd quarter. Shell Asset Management Co. now owns 48,175 shares of the home improvement retailer’s stock valued at $17,663,000 after buying an additional 15,002 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on HD. DA Davidson set a $430.00 price target on shares of Home Depot in a research report on Wednesday. Argus reduced their target price on Home Depot from $450.00 to $425.00 and set a “buy” rating on the stock in a report on Thursday. Guggenheim dropped their price objective on Home Depot from $450.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday. Evercore ISI reduced their price objective on Home Depot from $450.00 to $425.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Truist Financial set a $379.00 target price on Home Depot in a research note on Tuesday. Twenty-one equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $410.24.

Insider Activity

In other news, EVP William D. Bastek sold 2,303 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $423.12, for a total transaction of $974,445.36. Following the completion of the sale, the executive vice president owned 24,235 shares of the company’s stock, valued at $10,254,313.20. This trade represents a 8.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.10% of the company’s stock.

Home Depot Price Performance

Shares of NYSE HD opened at $343.22 on Friday. The company has a market capitalization of $341.64 billion, a PE ratio of 23.32, a P/E/G ratio of 3.59 and a beta of 1.00. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37. The firm has a fifty day simple moving average of $385.34 and a 200 day simple moving average of $381.00.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.09). Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The business had revenue of $41.35 billion for the quarter, compared to analyst estimates of $41.06 billion. During the same quarter in the previous year, the business posted $3.78 earnings per share. The business’s revenue was up 2.8% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. On average, sell-side analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be paid a $2.30 dividend. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $9.20 annualized dividend and a yield of 2.7%. Home Depot’s payout ratio is 62.71%.

About Home Depot

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.