BNP Paribas Sells Stake in Home Depot Amid Strong Earnings Growth

BNP Paribas sold a portion of its stake in Home Depot, reducing its holdings by 9.8% during the second quarter. The firm owned 42,182 shares of Home Depot's stock after selling 4,561 shares, with a total value of $14,845,000 at the end of the period.

The move is part of a larger trend in institutional investors and hedge funds buying and selling shares of Home Depot. Bank of Nova Scotia acquired a new position worth approximately $118,723,000, while Gator Capital Management LLC bought a new stake valued at $3,693,000.

Home Depot's stock performance has been strong, with the company reporting $4.92 EPS for the quarter, beating analysts' estimates of $4.73. The business had revenue of $47.86 billion, up 5.7% compared to the same quarter last year.