Spire Wealth Management Has $10.64 Million Stake in The Home Depot, Inc. $HD

by · The Cerbat Gem

Spire Wealth Management decreased its position in shares of The Home Depot, Inc. (NYSE:HD – Free Report) by 23.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,041 shares of the home improvement retailer’s stock after selling 8,923 shares during the quarter. Spire Wealth Management’s holdings in Home Depot were worth $10,636,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Legend Financial Advisors Inc. acquired a new stake in shares of Home Depot during the 2nd quarter valued at $28,000. Abound Financial LLC acquired a new stake in shares of Home Depot during the 1st quarter valued at $31,000. Iron Horse Wealth Management LLC lifted its holdings in Home Depot by 86.8% during the 1st 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 period. Global X Japan Co. Ltd. acquired a new position in Home Depot during the 2nd quarter worth about $40,000. Finally, GFG Capital LLC acquired a new position in Home Depot during the 2nd quarter worth about $40,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Performance

Shares of Home Depot stock opened at $377.50 on Thursday. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. The firm has a market capitalization of $375.76 billion, a price-to-earnings ratio of 25.65, a PEG ratio of 3.66 and a beta of 1.00. The business has a 50-day simple moving average of $401.60 and a 200 day simple moving average of $380.30. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.34.

Home Depot (NYSE:HD – Get Free Report) last issued its 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). Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The firm had revenue of $45.28 billion during the quarter, compared to the consensus estimate of $45.43 billion. During the same period in the previous year, the firm earned $4.60 earnings per share. The business’s quarterly revenue was up 4.9% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Thursday, September 4th. Home Depot’s payout ratio is currently 62.50%.

Analyst Upgrades and Downgrades

Several research analysts have commented on HD shares. Oppenheimer lifted their target price on Home Depot from $400.00 to $420.00 and gave the stock a “market perform” rating in a report on Thursday, September 25th. DA Davidson reaffirmed a “buy” rating and set a $450.00 target price on shares of Home Depot in a report on Tuesday, August 19th. Wolfe Research started coverage on Home Depot in a report on Thursday, September 18th. They set an “outperform” rating and a $497.00 target price on the stock. JPMorgan Chase & Co. cut their target price on Home Depot from $460.00 to $452.00 and set an “overweight” rating on the stock in a report on Wednesday, August 20th. Finally, Stifel Nicolaus lifted their target price on Home Depot from $425.00 to $432.00 and gave the stock a “buy” rating in a report on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $434.35.

Read Our Latest Research Report on Home Depot

Insider Activity

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,483 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $413.23, for a total transaction of $2,265,740.09. Following the completion of the sale, the executive vice president directly owned 16,057 shares of the company’s stock, valued at approximately $6,635,234.11. The trade was a 25.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Edward P. Decker sold 32,897 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $397.22, for a total value of $13,067,346.34. Following the sale, the chief executive officer directly owned 122,425 shares of the company’s stock, valued at $48,629,658.50. This represents a 21.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 48,835 shares of company stock worth $19,623,432. Company insiders own 0.10% of the company’s stock.

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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