Wade G W & Inc. trimmed its position in Lowe’s Companies, Inc. (NYSE:LOW) by 5.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,205 shares of the home improvement retailer’s stock after selling 262 shares during the period. Wade G W & Inc.’s holdings in Lowe’s Companies were worth $697,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. FMR LLC lifted its position in Lowe’s Companies by 3.2% in the second quarter. FMR LLC now owns 22,847,450 shares of the home improvement retailer’s stock worth $3,087,147,000 after purchasing an additional 706,111 shares during the period. Nuveen Asset Management LLC lifted its position in shares of Lowe’s Companies by 2.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 8,351,287 shares of the home improvement retailer’s stock valued at $1,128,426,000 after acquiring an additional 181,285 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Lowe’s Companies by 2.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 7,967,519 shares of the home improvement retailer’s stock valued at $1,076,571,000 after acquiring an additional 184,794 shares during the last quarter. Swiss National Bank lifted its position in shares of Lowe’s Companies by 1.7% during the 2nd quarter. Swiss National Bank now owns 3,031,503 shares of the home improvement retailer’s stock valued at $409,617,000 after acquiring an additional 50,800 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its position in shares of Lowe’s Companies by 157.7% during the 2nd quarter. Two Sigma Advisers LP now owns 2,983,502 shares of the home improvement retailer’s stock valued at $403,131,000 after acquiring an additional 1,825,900 shares during the last quarter. Hedge funds and other institutional investors own 74.63% of the company’s stock.
Shares of NYSE:LOW opened at $161.90 on Tuesday. The company has a market cap of $122.35 billion, a P/E ratio of 21.53, a P/E/G ratio of 1.22 and a beta of 1.52. The stock’s 50-day moving average is $167.10 and its 200-day moving average is $146.81. Lowe’s Companies, Inc. has a 52-week low of $60.00 and a 52-week high of $180.67. The company has a debt-to-equity ratio of 4.64, a quick ratio of 0.65 and a current ratio of 1.30.
Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, August 19th. The home improvement retailer reported $3.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.95 by $0.80. The company had revenue of $27.30 billion for the quarter, compared to the consensus estimate of $24.24 billion. Lowe’s Companies had a return on equity of 228.17% and a net margin of 7.12%. The firm’s revenue was up 30.1% compared to the same quarter last year. During the same period last year, the business posted $2.15 earnings per share. As a group, equities analysts predict that Lowe’s Companies, Inc. will post 8.51 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 3rd. Stockholders of record on Wednesday, January 20th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Tuesday, January 19th. Lowe’s Companies’s dividend payout ratio is currently 41.96%.
In other news, EVP Ross W. Mccanless sold 62,838 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $168.33, for a total value of $10,577,520.54. Following the sale, the executive vice president now directly owns 72,967 shares of the company’s stock, valued at $12,282,535.11. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.07% of the company’s stock.
A number of brokerages have recently commented on LOW. Bank of America increased their price objective on Lowe’s Companies from $176.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. The Goldman Sachs Group increased their target price on Lowe’s Companies from $149.00 to $176.00 and gave the company a “buy” rating in a report on Thursday, August 20th. Jefferies Financial Group increased their target price on Lowe’s Companies from $193.00 to $205.00 in a report on Wednesday, August 26th. Gordon Haskett lowered Lowe’s Companies from a “buy” rating to an “accumulate” rating and set a $181.00 target price for the company. in a report on Thursday, November 12th. Finally, BNP Paribas assumed coverage on Lowe’s Companies in a report on Monday, October 5th. They issued a “neutral” rating and a $159.00 target price for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-six have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $169.61.
About Lowe’s Companies
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 appliances, dÃ©cor, paint, hardware, millwork, lawn and garden, lighting, lumber and building materials, flooring, kitchens and bath, rough plumbing and electrical, seasonal and outdoor living, and tools.
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