Galvin Gaustad & Stein LLC Sells 2,211 Shares of The Home Depot, Inc. (NYSE:HD)

Posted by Defense World Staff on Oct 9th, 2023

Galvin Gaustad & Stein LLC trimmed its holdings in The Home Depot, Inc. (NYSE:HD – Free Report) by 4.2% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 51,046 shares of the home improvement retailer’s stock after selling 2,211 shares during the quarter. Home Depot accounts for about 1.5% of Galvin Gaustad & Stein LLC’s holdings, making the stock its 28th biggest holding. Galvin Gaustad & Stein LLC’s holdings in Home Depot were worth $15,857,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in HD. BCK Partners Inc. bought a new stake in shares of Home Depot in the 1st quarter worth approximately $2,933,000. Fairfield Bush & CO. bought a new stake in Home Depot during the 1st quarter valued at $27,000. Ergoteles LLC bought a new stake in Home Depot during the 1st quarter valued at $1,554,000. Equitable Holdings Inc. raised its holdings in Home Depot by 7.4% during the 1st quarter. Equitable Holdings Inc. now owns 14,628 shares of the home improvement retailer’s stock valued at $4,379,000 after buying an additional 1,007 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in Home Depot by 3.2% during the 1st quarter. First Trust Advisors LP now owns 791,318 shares of the home improvement retailer’s stock valued at $236,865,000 after buying an additional 24,640 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors.

Insider Transactions at Home Depot

In other news, CAO Kimberly R. Scardino sold 1,600 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $326.69, for a total value of $522,704.00. Following the transaction, the chief accounting officer now owns 8,281 shares in the company, valued at approximately $2,705,319.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Kimberly R. Scardino sold 1,600 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $326.69, for a total value of $522,704.00. Following the transaction, the chief accounting officer now owns 8,281 shares in the company, valued at approximately $2,705,319.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Teresa Wynn Roseborough sold 6,091 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $324.22, for a total transaction of $1,974,824.02. Following the completion of the transaction, the executive vice president now owns 22,749 shares in the company, valued at approximately $7,375,680.78. The disclosure for this sale can be found here. Insiders have sold 19,811 shares of company stock worth $6,441,376 in the last quarter. Company insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Barclays upped their price target on shares of Home Depot from $310.00 to $333.00 and gave the company an “equal weight” rating in a report on Tuesday, August 15th. StockNews.com upgraded shares of Home Depot from a “hold” rating to a “buy” rating in a report on Saturday. Stifel Nicolaus assumed coverage on shares of Home Depot in a report on Wednesday, September 6th. They set a “hold” rating and a $350.00 price target for the company. Sanford C. Bernstein upped their price objective on shares of Home Depot from $314.00 to $328.00 and gave the stock a “market perform” rating in a report on Wednesday, August 16th. Finally, Robert W. Baird upped their price objective on shares of Home Depot from $330.00 to $360.00 in a report on Tuesday, August 15th. Fourteen research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $339.27.

Read Our Latest Stock Report on HD

Home Depot Stock Performance

Shares of NYSE HD opened at $292.82 on Monday. The firm’s 50-day moving average price is $320.63 and its 200-day moving average price is $306.78. The company has a quick ratio of 0.35, a current ratio of 1.31 and a debt-to-equity ratio of 30.53. The company has a market cap of $292.84 billion, a PE ratio of 18.29, a PEG ratio of 2.03 and a beta of 0.96. The Home Depot, Inc. has a 52-week low of $267.86 and a 52-week high of $347.25.

Home Depot (NYSE:HD – Get Free Report) last announced its quarterly earnings results on Tuesday, August 15th. The home improvement retailer reported $4.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.45 by $0.20. The firm had revenue of $42.92 billion for the quarter, compared to the consensus estimate of $42.19 billion. Home Depot had a net margin of 10.48% and a return on equity of 1,424.89%. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the firm posted $5.05 EPS. As a group, analysts anticipate that The Home Depot, Inc. will post 15.24 EPS for the current year.

Home Depot announced that its board has approved a share repurchase program on Tuesday, August 15th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the home improvement retailer to reacquire up to 4.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Thursday, August 31st were issued a dividend of $2.09 per share. This represents a $8.36 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend was Wednesday, August 30th. Home Depot’s payout ratio is presently 52.22%.

Home Depot Profile

(Free Report)

The Home Depot, Inc operates as a home improvement retailer. 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.