Praxis Investment Management Inc. Decreases Holdings in The Home Depot, Inc. $HD

by · The Cerbat Gem

Praxis Investment Management Inc. lessened its stake in shares of The Home Depot, Inc. (NYSE:HD – Free Report) by 2.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 35,378 shares of the home improvement retailer’s stock after selling 1,020 shares during the period. Home Depot comprises about 0.8% of Praxis Investment Management Inc.’s holdings, making the stock its 20th biggest position. Praxis Investment Management Inc.’s holdings in Home Depot were worth $12,971,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in HD. Legend Financial Advisors Inc. purchased a new stake in shares of Home Depot during the 2nd quarter worth approximately $28,000. Abound Financial LLC purchased a new stake in Home Depot in the first quarter worth $31,000. Iron Horse Wealth Management LLC increased its position in Home Depot by 86.8% in the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer’s stock worth $36,000 after buying an additional 46 shares during the last quarter. Global X Japan Co. Ltd. purchased a new stake in Home Depot in the second quarter worth $40,000. Finally, GFG Capital LLC purchased a new stake in Home Depot in the 2nd quarter worth about $40,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Buying and Selling at Home Depot

In other news, CEO Edward P. Decker sold 32,897 shares of the business’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the completion of the transaction, the chief executive officer owned 122,425 shares of the company’s stock, valued at approximately $48,629,658.50. The trade was a 21.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William D. Bastek sold 3,783 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $410.23, for a total value of $1,551,900.09. Following the transaction, the executive vice president directly owned 24,235 shares of the company’s stock, valued at $9,941,924.05. The trade was a 13.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,835 shares of company stock valued at $19,623,432 over the last 90 days. Insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Truist Financial lifted their price objective on Home Depot from $417.00 to $433.00 and gave the stock a “buy” rating in a report on Wednesday, August 13th. Morgan Stanley lifted their target price on shares of Home Depot from $415.00 to $430.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. Wells Fargo & Company lifted their price objective on shares of Home Depot from $420.00 to $450.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. DA Davidson reiterated a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a research note on Tuesday, August 19th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a research note on Tuesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $435.42.

Check Out Our Latest Stock Analysis on Home Depot

Home Depot Price Performance

Shares of NYSE:HD opened at $387.40 on Friday. The company has a 50 day moving average of $403.62 and a 200 day moving average of $377.73. The stock has a market cap of $385.61 billion, a P/E ratio of 26.32, a P/E/G ratio of 3.68 and a beta of 1.00. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37. The company has a current ratio of 1.15, a quick ratio of 0.34 and a debt-to-equity ratio of 4.31.

Home Depot (NYSE:HD – Get Free Report) last released its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 EPS for the quarter, missing analysts’ consensus estimates of $4.69 by ($0.01). The firm had revenue of $45.28 billion for the quarter, compared to analysts’ expectations of $45.43 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the firm earned $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, sell-side analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were given a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.4%. The ex-dividend date was Thursday, September 4th. Home Depot’s payout ratio is presently 62.50%.

Home Depot Profile

(Free Report)

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.

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