Danica Pension Snaps Up Over 100,000 Shares in Home Depot

Danica Pension Livsforsikringsaktieselskab has acquired a new position in The Home Depot, Inc. (NYSE:HD), buying 100,879 shares worth approximately $35,578,000.

The firm's acquisition is the latest in a series of moves by institutional investors to boost their stakes in HD. In the second quarter, Parvin Asset Management LLC increased its position by 110% and Advocate Investing Services LLC purchased new shares valued at around $25,000.

As of June 30, institutional investors owned 70.86% of Home Depot's outstanding stock. The company's most recent quarterly earnings report showed revenue of $47.86 billion, a 5.7% increase year-over-year, and adjusted diluted EPS of $4.92, exceeding analyst estimates.

The positive sentiment surrounding HD has been driven in part by the company's management commentary on smaller projects driving growth, as well as its continued dividend payments. The Home Depot, Inc.'s 17-year dividend growth streak remains an attractive feature for income-oriented investors.