CLS Investments LLC raised its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 600.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,841 shares of the home improvement retailer’s stock after acquiring an additional 11,009 shares during the period. CLS Investments LLC’s holdings in Lowe’s Companies were worth $996,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. Pacer Advisors Inc. raised its stake in Lowe’s Companies by 4.8% during the 2nd quarter. Pacer Advisors Inc. now owns 19,447 shares of the home improvement retailer’s stock valued at $1,508,000 after acquiring an additional 884 shares in the last quarter. BDO Wealth Advisors LLC bought a new stake in Lowe’s Companies during the 2nd quarter valued at $765,000. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in Lowe’s Companies by 16.3% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 204,402 shares of the home improvement retailer’s stock valued at $15,847,000 after acquiring an additional 28,582 shares in the last quarter. Airain ltd raised its stake in Lowe’s Companies by 5,218.7% during the 2nd quarter. Airain ltd now owns 321,939 shares of the home improvement retailer’s stock valued at $24,960,000 after acquiring an additional 315,886 shares in the last quarter. Finally, Willingdon Wealth Management raised its stake in Lowe’s Companies by 10.6% during the 2nd quarter. Willingdon Wealth Management now owns 18,553 shares of the home improvement retailer’s stock valued at $1,438,000 after acquiring an additional 1,777 shares in the last quarter. 74.08% of the stock is currently owned by hedge funds and other institutional investors.
Lowe’s Companies, Inc. (NYSE:LOW) opened at 80.61 on Friday. The stock has a market cap of $67.13 billion, a P/E ratio of 22.89 and a beta of 1.07. Lowe’s Companies, Inc. has a one year low of $64.87 and a one year high of $86.25. The stock’s 50 day moving average price is $79.82 and its 200-day moving average price is $79.33.
Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, August 23rd. The home improvement retailer reported $1.57 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.62 by ($0.05). The business had revenue of $19.50 billion for the quarter, compared to analyst estimates of $19.58 billion. Lowe’s Companies had a return on equity of 62.02% and a net margin of 4.51%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.37 EPS. On average, analysts predict that Lowe’s Companies, Inc. will post $4.50 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 8th. Investors of record on Wednesday, October 25th will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.03%. The ex-dividend date is Tuesday, October 24th. Lowe’s Companies’s payout ratio is presently 46.20%.
Several analysts have weighed in on the company. Zacks Investment Research raised Lowe’s Companies from a “sell” rating to a “hold” rating in a research note on Tuesday. Deutsche Bank AG reaffirmed a “buy” rating and set a $90.00 target price (up previously from $85.00) on shares of Lowe’s Companies in a research note on Friday, October 6th. Gordon Haskett assumed coverage on Lowe’s Companies in a research note on Tuesday, October 3rd. They set an “accumulate” rating and a $88.00 target price on the stock. Piper Jaffray Companies reaffirmed a “hold” rating and set a $80.00 target price on shares of Lowe’s Companies in a research note on Friday, September 29th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $75.00 target price on shares of Lowe’s Companies in a research note on Thursday, September 28th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $85.32.
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In other Lowe’s Companies news, SVP Matthew V. Hollifield sold 7,853 shares of Lowe’s Companies stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $78.30, for a total value of $614,889.90. Following the sale, the senior vice president now owns 30,750 shares of the company’s stock, valued at approximately $2,407,725. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul D. Ramsay sold 2,098 shares of Lowe’s Companies stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $78.02, for a total value of $163,685.96. Following the completion of the sale, the insider now directly 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.
About Lowe’s Companies
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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