Home Depot Sees Increased Institutional Investment Amid Strong Earnings

The Home Depot, Inc. (NYSE: HD) is one of the largest home improvement retailers in the world. Confluence Wealth Services Inc., a financial services company, has increased its stake in Home Depot by 28.8% during the second quarter.

According to the most recent 13F filing with the Securities and Exchange Commission (SEC), Confluence Wealth Services Inc. now owns 19,731 shares of Home Depot's stock, valued at $6,958,000.

This is not an isolated instance, as several other large investors have also increased their holdings in Home Depot during the same period. Vanguard Group Inc., for example, increased its position by 1.3% and now owns 99,635,779 shares of the home improvement retailer's stock worth $34,284,672,000.

Home Depot has reported a strong performance in recent quarters, with earnings per share of $3.43 exceeding analyst expectations of $3.41. The company also announced a quarterly dividend of $2.33 per share on June 18th, representing an annualized dividend yield of 2.8%.