Tredje AP fonden increased its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 7.8% in the first quarter, Holdings Channel reports. The institutional investor owned 57,745 shares of the home improvement retailer’s stock after acquiring an additional 4,171 shares during the period. Tredje AP fonden’s holdings in Lowe’s Companies were worth $6,321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Clarfeld Financial Advisors LLC bought a new position in shares of Lowe’s Companies in the fourth quarter worth $26,000. Advisors Preferred LLC bought a new position in shares of Lowe’s Companies in the first quarter worth $26,000. Icon Wealth Partners LLC bought a new position in shares of Lowe’s Companies in the first quarter worth $26,000. Prime Capital Investment Advisors LLC bought a new position in shares of Lowe’s Companies in the first quarter worth $33,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC grew its stake in shares of Lowe’s Companies by 117.4% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 337 shares of the home improvement retailer’s stock worth $36,000 after purchasing an additional 182 shares in the last quarter. Hedge funds and other institutional investors own 76.85% of the company’s stock.
In related news, insider Marvin R. Ellison bought 10,000 shares of Lowe’s Companies stock in a transaction dated Friday, May 24th. The stock was acquired at an average cost of $95.05 per share, with a total value of $950,500.00. Following the completion of the acquisition, the insider now directly owns 80,090 shares in the company, valued at approximately $7,612,554.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.07% of the company’s stock.
Several research analysts have recently issued reports on the company. Bank of America set a $135.00 price target on Lowe’s Companies and gave the stock a “buy” rating in a research note on Monday, May 27th. SunTrust Banks reaffirmed a “buy” rating and set a $120.00 target price on shares of Lowe’s Companies in a research note on Friday, May 24th. Gabelli reaffirmed a “buy” rating on shares of Lowe’s Companies in a research note on Thursday, May 23rd. Morgan Stanley set a $123.00 target price on Lowe’s Companies and gave the company a “buy” rating in a research note on Thursday, May 23rd. Finally, UBS Group decreased their target price on Lowe’s Companies from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Nine analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $113.48.
Shares of NYSE LOW traded up $0.71 during mid-day trading on Friday, hitting $99.33. 162,696 shares of the company traded hands, compared to its average volume of 6,638,811. Lowe’s Companies, Inc. has a 1 year low of $84.75 and a 1 year high of $118.23. The company has a market cap of $75.42 billion, a price-to-earnings ratio of 19.36, a P/E/G ratio of 1.22 and a beta of 1.37. The company has a quick ratio of 0.24, a current ratio of 1.09 and a debt-to-equity ratio of 6.37.
Lowe’s Companies (NYSE:LOW) last announced 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 company had revenue of $17.74 billion for the quarter, compared to analysts’ expectations of $17.65 billion. During the same period in the prior year, the company earned $1.19 earnings per share. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, sell-side analysts expect that Lowe’s Companies, Inc. will post 5.59 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.21%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.48. The ex-dividend date is Tuesday, July 23rd. Lowe’s Companies’s dividend payout ratio is currently 37.35%.
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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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