Rockland Trust Co. Buys 8,158 Shares of The Home Depot, Inc. $HD

Rockland Trust Co. lifted its stake in shares of The Home Depot, Inc. (NYSE:HD) by 26.4% in the third quarter, HoldingsChannel reports. The fund owned 39,046 shares of the home improvement retailer’s stock after acquiring an additional 8,158 shares during the period. Rockland Trust Co.’s holdings in Home Depot were worth $15,821,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealthfront Advisers LLC increased its stake in shares of Home Depot by 9.5% in the third quarter. Wealthfront Advisers LLC now owns 119,136 shares of the home improvement retailer’s stock worth $48,273,000 after purchasing an additional 10,325 shares in the last quarter. Navellier & Associates Inc. boosted its holdings in Home Depot by 23.7% in the 3rd quarter. Navellier & Associates Inc. now owns 3,099 shares of the home improvement retailer’s stock worth $1,256,000 after buying an additional 593 shares during the period. Summit Asset Management LLC increased its stake in Home Depot by 1.1% in the 3rd quarter. Summit Asset Management LLC now owns 7,796 shares of the home improvement retailer’s stock worth $3,159,000 after buying an additional 85 shares in the last quarter. Delap Wealth Advisory LLC bought a new stake in Home Depot during the third quarter valued at about $214,000. Finally, Edgemoor Investment Advisors Inc. raised its holdings in Home Depot by 1.1% during the third quarter. Edgemoor Investment Advisors Inc. now owns 2,820 shares of the home improvement retailer’s stock valued at $1,143,000 after acquiring an additional 32 shares during the period. Institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on HD shares. Sanford C. Bernstein reiterated a “market perform” rating and set a $362.00 target price on shares of Home Depot in a research report on Monday, November 24th. Telsey Advisory Group dropped their price target on Home Depot from $430.00 to $410.00 and set an “outperform” rating for the company in a research note on Wednesday, December 10th. BNP Paribas Exane increased 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. Wolfe Research lowered their target price on shares of Home Depot from $415.00 to $414.00 and set an “outperform” rating on the stock in a report on Wednesday, February 4th. Finally, Guggenheim dropped their target price on shares of Home Depot from $450.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, November 20th. Twenty-one analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and an average price target of $404.47.

Home Depot Price Performance

NYSE:HD opened at $380.99 on Tuesday. The firm has a market capitalization of $379.28 billion, a price-to-earnings ratio of 25.97, a PEG ratio of 13.75 and a beta of 1.08. 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 business has a 50 day simple moving average of $363.28 and a 200-day simple moving average of $379.63. 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 released its quarterly 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 company had revenue of $41.35 billion for 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 business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.78 EPS. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. 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 declared a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, December 4th were paid a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, December 4th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.4%. Home Depot’s payout ratio is currently 62.71%.

Insider Buying and Selling

In other Home Depot news, EVP Angie Brown sold 1,946 shares of the firm’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $357.63, for a total value of $695,947.98. Following the completion of the sale, the executive vice president owned 3,941 shares of the company’s stock, valued at $1,409,419.83. This trade represents a 33.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Teresa Wynn Roseborough sold 2,872 shares of the company’s stock in a transaction that occurred on Friday, December 26th. The shares were sold at an average price of $348.52, for a total value of $1,000,949.44. Following the transaction, the executive vice president directly owned 13,196 shares in the company, valued at approximately $4,599,069.92. This represents a 17.87% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 4,963 shares of company stock valued at $1,748,845. Company insiders own 0.10% of the company’s stock.

Home Depot Company Profile

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.