Providence Financial Advisors LLC Purchases New Position in The Home Depot, Inc. $HD

Providence Financial Advisors LLC acquired a new position in shares of The Home Depot, Inc. (NYSE:HD) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,755 shares of the home improvement retailer’s stock, valued at approximately $711,000. Home Depot makes up approximately 0.7% of Providence Financial Advisors LLC’s portfolio, making the stock its 18th biggest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Home Depot by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 97,978,814 shares of the home improvement retailer’s stock worth $35,922,952,000 after purchasing an additional 1,494,615 shares in the last quarter. State Street Corp grew its stake in Home Depot by 0.7% during the second quarter. State Street Corp now owns 46,015,836 shares of the home improvement retailer’s stock worth $16,871,246,000 after buying an additional 300,352 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Home Depot by 1.4% during the second quarter. Geode Capital Management LLC now owns 22,978,809 shares of the home improvement retailer’s stock worth $8,394,611,000 after buying an additional 327,674 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Home Depot by 1.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 14,568,860 shares of the home improvement retailer’s stock valued at $5,341,724,000 after acquiring an additional 153,582 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Home Depot in the second quarter valued at approximately $4,885,603,000. 70.86% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on HD shares. Argus dropped their price target on Home Depot from $450.00 to $425.00 and set a “buy” rating for the company in a report on Thursday, November 20th. Daiwa Securities Group increased their target price on Home Depot from $348.00 to $360.00 and gave the stock a “neutral” rating in a report on Tuesday, December 16th. BNP Paribas Exane lifted their price target on Home Depot from $353.00 to $355.00 and gave the company a “neutral” rating in a report on Friday, December 5th. Morgan Stanley upped their price target on shares of Home Depot from $395.00 to $412.00 and gave the stock an “overweight” rating in a research report on Thursday, January 15th. Finally, Stifel Nicolaus lowered their price objective on shares of Home Depot from $370.00 to $350.00 and set a “hold” rating for the company in a research report on Monday, December 1st. Twenty-one analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $407.23.

Home Depot Stock Performance

Home Depot stock opened at $391.03 on Monday. The company has a market cap of $389.27 billion, a PE ratio of 26.65, a PEG ratio of 13.97 and a beta of 1.08. The company has a current ratio of 1.05, a quick ratio of 0.29 and a debt-to-equity ratio of 3.82. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $426.75. The company’s 50-day moving average is $366.16 and its two-hundred day moving average is $380.05.

Home Depot (NYSE:HD) last posted 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 160.74% and a net margin of 8.77%.The business had revenue of $41.35 billion for the quarter, compared to the consensus estimate of $41.06 billion. During the same period last year, the firm earned $3.78 earnings per share. The company’s quarterly 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. Equities analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th were paid a $2.30 dividend. 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 dividend payout ratio is 62.71%.

Insider Transactions at Home Depot

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 stock was sold at an average price of $357.63, for a total transaction of $695,947.98. Following the transaction, the executive vice president owned 3,941 shares in the company, valued at approximately $1,409,419.83. This trade represents a 33.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Teresa Wynn Roseborough sold 2,872 shares of the business’s stock in a transaction dated Friday, December 26th. The stock was sold at an average price of $348.52, for a total value of $1,000,949.44. Following the transaction, the executive vice president owned 13,196 shares of the company’s stock, valued at $4,599,069.92. The trade was a 17.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 4,963 shares of company stock worth $1,748,845 in the last three months. Insiders own 0.10% of the company’s stock.

About Home Depot

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.