Claro Advisors LLC lessened its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 11.8% in the first quarter, Holdings Channel reports. The institutional investor owned 6,362 shares of the home improvement retailer’s stock after selling 855 shares during the quarter. Claro Advisors LLC’s holdings in Lowe’s Companies were worth $696,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Tuttle Tactical Management acquired a new stake in shares of Lowe’s Companies during the 1st quarter worth about $841,000. Bar Harbor Trust Services acquired a new stake in shares of Lowe’s Companies during the 1st quarter worth about $219,000. Nomura Asset Management Co. Ltd. lifted its stake in shares of Lowe’s Companies by 2.2% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 156,852 shares of the home improvement retailer’s stock worth $17,170,000 after buying an additional 3,318 shares during the last quarter. Novare Capital Management LLC lifted its stake in shares of Lowe’s Companies by 4.7% during the 1st quarter. Novare Capital Management LLC now owns 46,605 shares of the home improvement retailer’s stock worth $5,102,000 after buying an additional 2,110 shares during the last quarter. Finally, Crestwood Advisors Group LLC increased its position in Lowe’s Companies by 3.5% during the first quarter. Crestwood Advisors Group LLC now owns 5,287 shares of the home improvement retailer’s stock worth $579,000 after acquiring an additional 177 shares during the period. Institutional investors own 76.85% of the company’s stock.
LOW stock opened at $96.33 on Thursday. The company has a debt-to-equity ratio of 6.37, a quick ratio of 0.24 and a current ratio of 1.09. Lowe’s Companies, Inc. has a 12 month low of $84.75 and a 12 month high of $118.23. The stock has a market capitalization of $75.43 billion, a price-to-earnings ratio of 18.78, a PEG ratio of 1.22 and a beta of 1.37.
Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, May 22nd. The home improvement retailer reported $1.22 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.11). Lowe’s Companies had a net margin of 3.31% and a return on equity of 91.85%. The firm had revenue of $17.74 billion during the quarter, compared to the consensus estimate of $17.65 billion. During the same period in the prior year, the business earned $1.19 earnings per share. Lowe’s Companies’s quarterly revenue was up 2.2% compared to the same quarter last year. Equities research analysts forecast that Lowe’s Companies, Inc. will post 5.59 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th will be issued a $0.55 dividend. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.48. This represents a $2.20 annualized dividend and a yield of 2.28%. The ex-dividend date is Tuesday, July 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is currently 37.35%.
In other news, insider Marvin R. Ellison bought 10,000 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were purchased at an average cost of $95.05 per share, with a total value of $950,500.00. Following the acquisition, the insider now directly owns 80,090 shares in the company, valued at $7,612,554.50. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.07% of the stock is owned by company insiders.
LOW has been the topic of a number of recent research reports. Loop Capital raised their price target on shares of Lowe’s Companies from $99.00 to $102.00 and gave the stock a “hold” rating in a research report on Wednesday, February 27th. Robert W. Baird raised their price target on shares of Lowe’s Companies from $120.00 to $126.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 27th. ValuEngine raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Thursday, February 28th. Wedbush raised their price target on shares of Lowe’s Companies from $95.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, February 28th. Finally, Morgan Stanley raised their price target on shares of Lowe’s Companies from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, February 28th. Nine analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Lowe’s Companies presently has a consensus rating of “Buy” and a consensus target price of $113.48.
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Lowe’s Companies 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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