NewEdge Wealth LLC Acquires 11,300 Shares of The Home Depot, Inc. $HD

NewEdge Wealth LLC lifted its stake in The Home Depot, Inc. (NYSE:HD) by 5.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 221,813 shares of the home improvement retailer’s stock after purchasing an additional 11,300 shares during the period. Home Depot accounts for approximately 0.9% of NewEdge Wealth LLC’s holdings, making the stock its 22nd largest position. NewEdge Wealth LLC’s holdings in Home Depot were worth $72,952,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Wiregrass Investment Management LLC raised its stake in Home Depot by 5.3% during the 1st quarter. Wiregrass Investment Management LLC now owns 5,221 shares of the home improvement retailer’s stock worth $1,717,000 after acquiring an additional 261 shares during the period. Alpha Financial Partners LLC lifted its holdings in Home Depot by 5.0% during the first quarter. Alpha Financial Partners LLC now owns 1,548 shares of the home improvement retailer’s stock valued at $509,000 after purchasing an additional 74 shares in the last quarter. Marin Bay Wealth Advisors LLC boosted its position in shares of Home Depot by 54.1% in the first quarter. Marin Bay Wealth Advisors LLC now owns 2,807 shares of the home improvement retailer’s stock worth $923,000 after purchasing an additional 986 shares during the period. Magellan Asset Management Ltd increased its stake in shares of Home Depot by 3.1% in the first quarter. Magellan Asset Management Ltd now owns 10,728 shares of the home improvement retailer’s stock worth $3,528,000 after purchasing an additional 327 shares in the last quarter. Finally, Saturna Capital Corp increased its stake in shares of Home Depot by 7.4% in the first quarter. Saturna Capital Corp now owns 69,386 shares of the home improvement retailer’s stock worth $22,820,000 after purchasing an additional 4,759 shares in the last quarter. 70.86% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on HD shares. Sanford C. Bernstein restated a “market perform” rating and set a $346.00 target price on shares of Home Depot in a research note on Wednesday, May 20th. The Goldman Sachs Group decreased their price target on Home Depot from $409.00 to $390.00 and set a “buy” rating on the stock in a report on Wednesday, May 20th. Wolfe Research downgraded Home Depot from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, June 23rd. Royal Bank Of Canada dropped their price objective on Home Depot from $377.00 to $340.00 and set a “sector perform” rating for the company in a research note on Wednesday, May 20th. Finally, Wells Fargo & Company cut their target price on Home Depot from $375.00 to $360.00 and set an “overweight” rating for the company in a research report on Wednesday, May 20th. Eighteen investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Home Depot has an average rating of “Moderate Buy” and a consensus price target of $371.71.

Home Depot Stock Performance

HD opened at $331.73 on Thursday. The stock has a market capitalization of $330.77 billion, a price-to-earnings ratio of 23.56, a PEG ratio of 3.83 and a beta of 0.95. The company has a fifty day moving average of $328.39 and a 200 day moving average of $344.95. The Home Depot, Inc. has a fifty-two week low of $289.10 and a fifty-two week high of $426.75. The company has a debt-to-equity ratio of 3.23, a quick ratio of 0.28 and a current ratio of 1.04.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, May 19th. The home improvement retailer reported $3.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.41 by $0.02. Home Depot had a net margin of 8.41% and a return on equity of 117.24%. The company had revenue of $41.77 billion for the quarter, compared to the consensus estimate of $41.59 billion. During the same period in the previous year, the firm posted $3.56 EPS. Home Depot’s revenue for the quarter was up 4.8% compared to the same quarter last year. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. As a group, sell-side analysts forecast that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 4th were given a $2.33 dividend. This represents a $9.32 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Thursday, June 4th. Home Depot’s payout ratio is currently 66.19%.

Home Depot Company Profile

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.