Home Depot Sees Institutional Buying Amid Strong Earnings

Sone Capital Management LLC bought approximately $1.15 million worth of The Home Depot's stock, purchasing 3,263 shares in the second quarter. This is according to a recent Form 13F filing with the SEC.

This new position makes Sone Capital one of several institutional investors that have increased their stakes in HD this year. Brighton Jones LLC grew its position by 36.5% in the fourth quarter, and Schnieders Capital Management LLC lifted its stake by 14.1% during the second quarter.

Home Depot's recent quarterly earnings exceeded analyst estimates, with a $4.92 EPS beating the consensus of $4.73. The company also reported fiscal second-quarter sales of $47.86 billion, up 5.7% year over year.