Providence First Trust Co Sells 2,777 Shares of The Home Depot, Inc. $HD

Providence First Trust Co decreased its stake in The Home Depot, Inc. (NYSE:HD) by 78.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 761 shares of the home improvement retailer’s stock after selling 2,777 shares during the period. Providence First Trust Co’s holdings in Home Depot were worth $308,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Turtle Creek Wealth Advisors LLC increased its stake in shares of Home Depot by 18.8% during the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 28,277 shares of the home improvement retailer’s stock worth $11,458,000 after purchasing an additional 4,480 shares during the last quarter. Nordwand Advisors LLC grew its holdings in Home Depot by 107.1% during the third quarter. Nordwand Advisors LLC now owns 3,678 shares of the home improvement retailer’s stock valued at $1,490,000 after purchasing an additional 1,902 shares during the period. Carlton Hofferkamp & Jenks Wealth Management LLC grew its holdings in Home Depot by 0.7% during the third quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 6,301 shares of the home improvement retailer’s stock valued at $2,428,000 after purchasing an additional 46 shares during the period. Verdence Capital Advisors LLC increased its position in Home Depot by 5.9% in the third quarter. Verdence Capital Advisors LLC now owns 20,142 shares of the home improvement retailer’s stock worth $7,760,000 after buying an additional 1,123 shares during the last quarter. Finally, Tradewinds LLC. bought a new stake in shares of Home Depot in the third quarter valued at $821,000. 70.86% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Gordon Haskett dropped their price objective on shares of Home Depot from $345.00 to $330.00 and set a “hold” rating on the stock in a report on Wednesday, November 19th. DZ Bank reiterated a “sell” rating on shares of Home Depot in a research note on Tuesday, November 18th. Citigroup dropped their target price on Home Depot from $422.00 to $407.00 and set a “buy” rating on the stock in a research report on Friday, November 21st. Truist Financial set a $405.00 target price on Home Depot in a research note on Friday. Finally, Stifel Nicolaus decreased their price target on Home Depot from $370.00 to $350.00 and set a “hold” rating on the stock in a research report on Monday, December 1st. Twenty-one equities 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. According to MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and a consensus price target of $403.17.

Home Depot Stock Performance

NYSE:HD opened at $380.34 on Tuesday. The business’s 50-day moving average price is $355.04 and its two-hundred day moving average price is $378.25. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $426.75. The stock has a market cap of $378.63 billion, a P/E ratio of 25.93, a PEG ratio of 14.16 and a beta of 1.08. The company has a quick ratio of 0.29, a current ratio of 1.05 and a debt-to-equity ratio of 3.82.

Home Depot (NYSE:HD) last issued 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 analysts’ expectations of $41.06 billion. Home Depot had a return on equity of 160.74% and a net margin of 8.77%.The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.78 EPS. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. As a group, equities analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th were issued 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 presently 62.71%.

Insider Activity

In other news, EVP Ann Marie Campbell sold 145 shares of Home Depot stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $358.26, for a total transaction of $51,947.70. Following the completion of the sale, the executive vice president directly owned 12,320 shares of the company’s stock, valued at approximately $4,413,763.20. The trade was a 1.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Angie Brown sold 1,946 shares of the company’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $357.63, for a total transaction of $695,947.98. Following the completion of the transaction, 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 disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 4,963 shares of company stock worth $1,748,845. 0.10% of the stock is currently owned by corporate insiders.

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.