Mitsubishi UFJ Trust & Banking Corp decreased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 4.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,814,811 shares of the home improvement retailer’s stock after selling 89,074 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.21% of Lowe’s Companies worth $140,702,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in LOW. Waldron LP acquired a new position in Lowe’s Companies during the 1st quarter worth $364,000. Empire Life Investments Inc. acquired a new position in shares of Lowe’s Companies during the first quarter valued at about $17,350,000. LS Investment Advisors LLC raised its position in shares of Lowe’s Companies by 20.1% during the first quarter. LS Investment Advisors LLC now owns 53,571 shares of the home improvement retailer’s stock valued at $4,404,000 after buying an additional 8,964 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of Lowe’s Companies by 5.5% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 60,140 shares of the home improvement retailer’s stock valued at $4,944,000 after buying an additional 3,158 shares during the last quarter. Finally, Crawford Investment Counsel Inc. raised its position in shares of Lowe’s Companies by 1.2% during the first quarter. Crawford Investment Counsel Inc. now owns 9,416 shares of the home improvement retailer’s stock valued at $774,000 after buying an additional 114 shares during the last quarter. 74.08% of the stock is owned by hedge funds and other institutional investors.
In other news, SVP Matthew V. Hollifield sold 7,853 shares of the firm’s stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $78.30, for a total value of $614,889.90. Following the transaction, the senior vice president now owns 30,750 shares in the company, valued at $2,407,725. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul D. Ramsay sold 2,098 shares of the firm’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $78.02, for a total transaction of $163,685.96. Following the completion of the transaction, the insider now owns 8,400 shares in the company, valued at approximately $655,368. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.
Several research analysts recently issued reports on the stock. Bank of America Corporation assumed coverage on shares of Lowe’s Companies in a research report on Tuesday, September 5th. They issued a “buy” rating and a $95.00 price target for the company. BMO Capital Markets reissued a “buy” rating and issued a $89.00 price target on shares of Lowe’s Companies in a research report on Thursday, July 20th. Zacks Investment Research raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research report on Friday, August 11th. Jefferies Group LLC reaffirmed a “hold” rating and set a $89.00 price objective on shares of Lowe’s Companies in a research note on Friday, July 21st. Finally, Royal Bank Of Canada decreased their price objective on shares of Lowe’s Companies from $85.00 to $81.00 and set an “outperform” rating on the stock in a research note on Thursday, August 24th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $85.32.
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Lowe’s Companies, Inc. (LOW) opened at 81.53 on Friday. Lowe’s Companies, Inc. has a 52-week low of $64.87 and a 52-week high of $86.25. The company has a market cap of $67.90 billion, a P/E ratio of 23.15 and a beta of 1.07. The company has a 50-day moving average of $79.82 and a 200-day moving average of $79.33.
Lowe’s Companies (NYSE:LOW) last announced its earnings results on Wednesday, August 23rd. The home improvement retailer reported $1.57 earnings per share for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.05). The company had revenue of $19.50 billion during the quarter, compared to analysts’ expectations of $19.58 billion. Lowe’s Companies had a net margin of 4.51% and a return on equity of 62.02%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.37 earnings per share. On average, equities research analysts expect that Lowe’s Companies, Inc. will post $4.50 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 8th. Investors of record on Wednesday, October 25th will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Tuesday, October 24th. Lowe’s Companies’s dividend payout ratio is currently 46.20%.
Lowe’s Companies Profile
Lowe’s Companies, Inc (Lowe’s) is a home improvement company. The Company operates approximately 2,370 home improvement and hardware stores. The Company offers a range of products for maintenance, repair, remodeling and decorating. The Company offers home improvement products in categories, including Lumber and Building Materials; Tools and Hardware; Appliances; Fashion Fixtures; Rough Plumbing and Electrical; Lawn and Garden; Seasonal and Outdoor Living; Paint; Flooring; Millwork, and Kitchens.
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