Oklahoma Congressman Sells Shares of The Home Depot Amid Market Uncertainty
Representative Kevin Hern, an Oklahoma congressman, has recently made several significant trades in his investment portfolio. According to a filing disclosed on September 25th, he sold between $1,001 and $15,000 in shares of The Home Depot, Inc. (NYSE:HD) on September 14th. This trade occurred within the Representative's 'HERN FAMILY FOUNDATION' account.
In addition to selling shares of HD, Hern also made several other trades that same day. He sold between $1,001 and $15,000 in shares of Marsh & McLennan Companies (NYSE:MRSH), NextEra Energy (NYSE:NEE), IQVIA (NYSE:IQV), Emerson Electric (NYSE:EMR), Devon Energy (NYSE:DVN), and Home Depot itself. These trades were also made within the HERN FAMILY FOUNDATION account.
The sale of HD shares is notable given the company's recent performance. The Home Depot, Inc. reported earnings per share of $4.92 for its latest quarter, exceeding analysts' expectations of $4.73. However, some analysts and commentators are cautioning that higher mortgage rates could weaken housing activity and potentially impact the company's future growth.