Rep. Josh Gottheimer Buys The Home Depot, Inc. (NYSE:HD) Shares

Posted by Lindsey Winhoffer on Nov 8th, 2024

Representative Josh Gottheimer (D-New Jersey) recently bought shares of The Home Depot, Inc. (NYSE:HD). In a filing disclosed on November 06th, the Representative disclosed that they had bought between $1,001 and $15,000 in Home Depot stock on October 3rd. The trade occurred in the Representative’s “MORGAN STANLEY – SELECT UMA ACCOUNT # 1” account.

Representative Josh Gottheimer also recently made the following trade(s):

Purchased $1,001 – $15,000 in shares of Texas Capital Bancshares (NASDAQ:TCBI) on 10/31/2024.
Sold $1,001 – $15,000 in shares of ITT (NYSE:ITT) on 10/31/2024.
Sold $1,001 – $15,000 in shares of Stifel Financial (NYSE:SF) on 10/31/2024.
Sold $1,001 – $15,000 in shares of ICU Medical (NASDAQ:ICUI) on 10/31/2024.
Sold $1,001 – $15,000 in shares of AppFolio (NASDAQ:APPF) on 10/31/2024.
Purchased $1,001 – $15,000 in shares of Gates Industrial (NYSE:GTES) on 10/31/2024.
Purchased $1,001 – $15,000 in shares of Techtronic Industries (OTCMKTS:TTNDY) on 10/29/2024.
Purchased $1,001 – $15,000 in shares of Techtronic Industries (OTCMKTS:TTNDY) on 10/28/2024.
Purchased $1,001 – $15,000 in shares of Disco (OTCMKTS:DSCSY) on 10/28/2024.
Purchased $1,001 – $15,000 in shares of Enerpac Tool Group (NYSE:EPAC) on 10/25/2024.

Home Depot Price Performance

HD stock opened at $399.41 on Friday. The business’s fifty day moving average price is $393.80 and its 200 day moving average price is $363.10. The Home Depot, Inc. has a 12-month low of $286.79 and a 12-month high of $421.56. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74. The company has a market capitalization of $396.73 billion, a PE ratio of 26.86, a P/E/G ratio of 2.74 and a beta of 1.01.

Home Depot (NYSE:HD – Get Free Report) last issued its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating the consensus estimate of $4.59 by $0.08. The company had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 733.61%. The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the company posted $4.65 EPS. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date was Thursday, August 29th. Home Depot’s payout ratio is 60.57%.

Analyst Ratings Changes

HD has been the subject of a number of recent analyst reports. Jefferies Financial Group began coverage on Home Depot in a report on Tuesday, July 16th. They set a “buy” rating and a $426.00 price target for the company. JPMorgan Chase & Co. upped their price target on Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Morgan Stanley raised their price objective on shares of Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. UBS Group upped their target price on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Finally, DA Davidson lifted their price target on shares of Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat, Home Depot has an average rating of “Moderate Buy” and a consensus price target of $416.52.

Check Out Our Latest Report on Home Depot

Hedge Funds Weigh In On Home Depot

Several institutional investors and hedge funds have recently bought and sold shares of HD. Texas Capital Bank Wealth Management Services Inc lifted its position in Home Depot by 27.6% during the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock valued at $9,348,000 after buying an additional 5,879 shares in the last quarter. Empirical Finance LLC boosted its position in Home Depot by 3.3% during the 1st quarter. Empirical Finance LLC now owns 37,127 shares of the home improvement retailer’s stock worth $14,242,000 after purchasing an additional 1,195 shares during the period. Pegasus Asset Management Inc. increased its holdings in Home Depot by 1.8% in the 3rd quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock valued at $2,024,000 after purchasing an additional 86 shares in the last quarter. Commonwealth Retirement Investments LLC increased its holdings in Home Depot by 5.5% in the 1st quarter. Commonwealth Retirement Investments LLC now owns 18,628 shares of the home improvement retailer’s stock valued at $7,146,000 after purchasing an additional 965 shares in the last quarter. Finally, Swedbank AB raised its position in Home Depot by 17.1% in the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after purchasing an additional 132,967 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey’s 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2025. Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey’s 5th Congressional District. He declared candidacy for the 2024 election. Gottheimer was first elected to the House in 2016. Prior to his election, Gottheimer worked for Microsoft, the Federal Communications Commission, and for the administration of President Bill Clinton (D). Click here for more information about Gottheimer’s career. Gottheimer serves on the House Financial Services Committee, where is a member of three subcommittees. For more on Gottheimer’s committee assignments, click here. Gottheimer became a co-chair of the Problem Solvers Caucus in February 2017. Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

About Home Depot

(Get 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.