Mechanics Financial Corp Grows Stake in The Home Depot, Inc. $HD

Mechanics Financial Corp lifted its position in The Home Depot, Inc. (NYSE:HD) by 1.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,053 shares of the home improvement retailer’s stock after buying an additional 34 shares during the period. Mechanics Financial Corp’s holdings in Home Depot were worth $1,119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Legend Financial Advisors Inc. purchased a new position in shares of Home Depot in the second quarter worth approximately $28,000. Abound Financial LLC purchased a new position in shares of Home Depot in the first quarter worth approximately $31,000. Iron Horse Wealth Management LLC boosted its holdings in shares of 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 position in shares of Home Depot in the second quarter worth approximately $40,000. Finally, Compass Financial Services Inc purchased a new position in shares of Home Depot in the first quarter worth approximately $41,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insiders Place Their Bets

In other Home Depot news, CFO Richard V. Mcphail sold 3,369 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $403.66, for a total value of $1,359,930.54. Following the sale, the chief financial officer owned 45,455 shares in the company, valued at $18,348,365.30. This trade represents a 6.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $413.23, for a total value of $2,265,740.09. Following the completion of the sale, the executive vice president owned 16,057 shares in the company, valued at approximately $6,635,234.11. The trade was a 25.45% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,835 shares of company stock valued at $19,623,432. Insiders own 0.10% of the company’s stock.

Home Depot Stock Performance

NYSE:HD opened at $394.56 on Friday. The stock’s fifty day moving average is $402.24 and its 200 day moving average is $375.89. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The firm has a market capitalization of $392.74 billion, a PE ratio of 26.80, a PEG ratio of 3.76 and a beta of 1.00. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share for the quarter, missing the consensus estimate of $4.69 by ($0.01). Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The company had revenue of $45.28 billion for the quarter, compared to analysts’ expectations of $45.43 billion. During the same quarter in the previous year, the company posted $4.60 EPS. 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, sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were paid a $2.30 dividend. The ex-dividend date was Thursday, September 4th. This represents a $9.20 dividend on an annualized basis and a yield of 2.3%. Home Depot’s dividend payout ratio (DPR) is presently 62.50%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HD. Oppenheimer boosted their price objective on Home Depot from $400.00 to $420.00 and gave the company a “market perform” rating in a research note on Thursday, September 25th. Mizuho boosted their price objective on Home Depot from $435.00 to $450.00 and gave the company an “outperform” rating in a research note on Wednesday, August 20th. DA Davidson reiterated a “buy” rating and set a $450.00 price objective on shares of Home Depot in a research note on Tuesday, August 19th. JPMorgan Chase & Co. cut their price objective on Home Depot from $460.00 to $452.00 and set an “overweight” rating for the company in a research note on Wednesday, August 20th. Finally, Stifel Nicolaus upped their price target on Home Depot from $425.00 to $432.00 and gave the stock a “buy” rating in a research note on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $436.40.

Home Depot Company Profile

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.