Lynch Asset Management Invests Big in Home Depot Amid Earnings Beat

Lynch Asset Management Inc., a seasoned institutional investor, has made a significant investment in The Home Depot, Inc. (NYSE: HD). According to its latest filing with the Securities & Exchange Commission, Lynch purchased 10,750 shares of Home Depot's stock during the second quarter, valued at approximately $3,791,000.

This new stake represents about 1.0% of Lynch Asset Management's holdings, making it their 27th biggest position.

Meanwhile, other institutional investors and hedge funds have also made changes to their positions in Home Depot. Norges Bank bought a new position in the company during the fourth quarter, valued at approximately $4,850,329,000. Bank of New York Mellon Corp purchased a new stake in shares of Home Depot during the second quarter, valued at $2,777,396,000.

Home Depot's latest earnings report showed solid execution, with earnings and revenue exceeding consensus estimates. The company has also declared a quarterly dividend of $2.33 per share, payable September 17 to shareholders of record September 3.