Wellington Management Group LLP cut its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 43.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,472,349 shares of the home improvement retailer’s stock after selling 8,040,093 shares during the quarter. Wellington Management Group LLP owned 1.39% of Lowe’s Companies worth $901,145,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cordasco Financial Network bought a new position in Lowe’s Companies during the first quarter worth $25,000. Benjamin Edwards Inc. lifted its stake in Lowe’s Companies by 43.0% during the first quarter. Benjamin Edwards Inc. now owns 296 shares of the home improvement retailer’s stock worth $25,000 after purchasing an additional 89 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its stake in Lowe’s Companies by 146.3% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 303 shares of the home improvement retailer’s stock worth $26,000 after purchasing an additional 180 shares during the last quarter. Filbrandt Wealth Management LLC bought a new position in Lowe’s Companies during the fourth quarter worth $29,000. Finally, Islay Capital Management LLC bought a new position in Lowe’s Companies during the fourth quarter worth $30,000. Hedge funds and other institutional investors own 74.63% of the company’s stock.
Several equities analysts recently issued reports on the company. Piper Sandler raised their price objective on Lowe’s Companies from $139.00 to $147.00 and gave the stock an “overweight” rating in a research note on Friday, May 15th. Cfra raised their target price on Lowe’s Companies from $125.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. SunTrust Banks raised their target price on Lowe’s Companies from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. UBS Group raised their target price on Lowe’s Companies from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. Finally, Telsey Advisory Group reiterated an “outperform” rating on shares of Lowe’s Companies in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-six have issued a buy rating to the company. Lowe’s Companies has an average rating of “Buy” and an average target price of $133.11.
NYSE:LOW traded down $4.84 during mid-day trading on Thursday, reaching $125.26. 282,148 shares of the stock were exchanged, compared to its average volume of 6,078,470. The business has a fifty day moving average price of $115.38 and a 200 day moving average price of $111.38. The firm has a market capitalization of $97.45 billion, a PE ratio of 21.98, a PEG ratio of 1.31 and a beta of 1.44. Lowe’s Companies, Inc. has a 1-year low of $60.00 and a 1-year high of $133.39. The company has a current ratio of 1.20, a quick ratio of 0.42 and a debt-to-equity ratio of 14.05.
Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, May 20th. The home improvement retailer reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.45. The firm had revenue of $19.68 billion for the quarter, compared to analyst estimates of $18.33 billion. Lowe’s Companies had a return on equity of 220.44% and a net margin of 6.17%. Lowe’s Companies’s revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.22 earnings per share. On average, sell-side analysts forecast that Lowe’s Companies, Inc. will post 6.59 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Wednesday, July 22nd will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date is Tuesday, July 21st. Lowe’s Companies’s payout ratio is currently 38.46%.
Lowe’s Companies Company Profile
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.
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