Elm3 Financial Group LLC Increases Position in The Home Depot, Inc. $HD

Elm3 Financial Group LLC lifted its stake in The Home Depot, Inc. (NYSE:HD) by 46.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,956 shares of the home improvement retailer’s stock after acquiring an additional 1,885 shares during the period. Home Depot accounts for 2.0% of Elm3 Financial Group LLC’s portfolio, making the stock its 13th largest position. Elm3 Financial Group LLC’s holdings in Home Depot were worth $2,413,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Home Depot by 1.5% during the second quarter. Vanguard Group Inc. now owns 97,978,814 shares of the home improvement retailer’s stock valued at $35,922,952,000 after buying an additional 1,494,615 shares during the last quarter. State Street Corp raised its stake in shares of Home Depot by 0.7% during the 2nd quarter. State Street Corp now owns 46,015,836 shares of the home improvement retailer’s stock worth $16,871,246,000 after acquiring an additional 300,352 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Home Depot by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 22,978,809 shares of the home improvement retailer’s stock worth $8,394,611,000 after acquiring an additional 327,674 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Home Depot by 1.1% during 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 acquired a new stake in Home Depot in the second quarter valued at approximately $4,885,603,000. Institutional investors own 70.86% of the company’s stock.

Insider Activity

In other Home Depot news, EVP Angie Brown sold 1,946 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $357.63, for a total value of $695,947.98. Following the completion of the transaction, the executive vice president directly owned 3,941 shares of the company’s stock, valued at approximately $1,409,419.83. The trade was a 33.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ann Marie Campbell sold 145 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $358.26, for a total transaction of $51,947.70. Following the sale, the executive vice president directly owned 12,320 shares in the company, valued at $4,413,763.20. The trade was a 1.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 4,963 shares of company stock valued at $1,748,845 in the last quarter. 0.10% of the stock is currently owned by company insiders.

Home Depot Price Performance

Shares of NYSE HD opened at $344.20 on Tuesday. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $426.75. The business’s 50 day moving average price is $356.34 and its 200 day moving average price is $377.84. The company has a quick ratio of 0.29, a current ratio of 1.05 and a debt-to-equity ratio of 3.82. The firm has a market cap of $342.65 billion, a P/E ratio of 23.46, a P/E/G ratio of 12.88 and a beta of 1.08.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, November 18th. The home improvement retailer reported $3.74 EPS for the quarter, missing the consensus estimate of $3.83 by ($0.09). The business had revenue of $41.35 billion for the quarter, compared to analyst estimates of $41.06 billion. Home Depot had a net margin of 8.77% and a return on equity of 160.74%. The business’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.78 earnings per share. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. On average, sell-side analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th were paid a dividend of $2.30 per share. The ex-dividend date was Thursday, December 4th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.7%. Home Depot’s dividend payout ratio (DPR) is presently 62.71%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on HD shares. DA Davidson reduced their price target on Home Depot from $430.00 to $407.00 and set a “buy” rating on the stock in a research report on Wednesday, December 10th. Bank of America reduced their target price on Home Depot from $450.00 to $430.00 and set a “buy” rating on the stock in a research report on Wednesday, November 19th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Home Depot in a research note on Monday, December 29th. Robert W. Baird dropped their price target on Home Depot from $450.00 to $415.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 19th. Finally, Piper Sandler cut their price objective on shares of Home Depot from $450.00 to $441.00 and set an “overweight” rating on the stock in a report on Wednesday, December 10th. Twenty-one research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and an average target price of $402.10.

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.