Tokio Marine Asset Management Co. Ltd. lowered its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 106,118 shares of the home improvement retailer’s stock after selling 3,468 shares during the quarter. Lowe’s Companies accounts for approximately 1.3% of Tokio Marine Asset Management Co. Ltd.’s investment portfolio, making the stock its 18th largest position. Tokio Marine Asset Management Co. Ltd.’s holdings in Lowe’s Companies were worth $8,483,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in LOW. Vanguard Group Inc. lifted its holdings in shares of Lowe’s Companies by 1.4% during the second quarter. Vanguard Group Inc. now owns 64,769,014 shares of the home improvement retailer’s stock valued at $5,021,542,000 after purchasing an additional 897,911 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Lowe’s Companies by 1,757.3% during the first quarter. BlackRock Inc. now owns 61,377,883 shares of the home improvement retailer’s stock valued at $5,045,875,000 after purchasing an additional 58,073,138 shares during the last quarter. FMR LLC lifted its holdings in shares of Lowe’s Companies by 62.6% during the second quarter. FMR LLC now owns 9,694,439 shares of the home improvement retailer’s stock valued at $751,610,000 after purchasing an additional 3,732,153 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Lowe’s Companies by 0.7% during the second quarter. Ameriprise Financial Inc. now owns 9,281,474 shares of the home improvement retailer’s stock valued at $719,560,000 after purchasing an additional 64,780 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Lowe’s Companies by 8.2% during the first quarter. Geode Capital Management LLC now owns 8,848,938 shares of the home improvement retailer’s stock valued at $726,481,000 after purchasing an additional 671,581 shares during the last quarter. 73.40% of the stock is owned by institutional investors and hedge funds.
Several brokerages have recently commented on LOW. Moffett Nathanson began coverage on Lowe’s Companies in a report on Monday, December 4th. They set a “buy” rating for the company. Deutsche Bank reaffirmed a “buy” rating and set a $90.00 target price (up from $85.00) on shares of Lowe’s Companies in a report on Friday, October 6th. Stifel Nicolaus upped their target price on Lowe’s Companies from $87.00 to $93.00 and gave the company a “buy” rating in a report on Tuesday, November 21st. Gordon Haskett assumed coverage on Lowe’s Companies in a research note on Tuesday, October 3rd. They issued an “accumulate” rating and a $88.00 price objective for the company. Finally, UBS increased their price objective on Lowe’s Companies from $89.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, November 22nd. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and sixteen have given a buy rating to the company. Lowe’s Companies presently has a consensus rating of “Hold” and a consensus target price of $87.40.
Shares of Lowe’s Companies, Inc. (LOW) traded down $0.06 during midday trading on Tuesday, hitting $85.54. The stock had a trading volume of 6,775,300 shares, compared to its average volume of 5,980,708. The company has a debt-to-equity ratio of 2.71, a quick ratio of 0.12 and a current ratio of 1.02. The firm has a market cap of $71,027.50, a price-to-earnings ratio of 18.98, a price-to-earnings-growth ratio of 1.37 and a beta of 1.15. Lowe’s Companies, Inc. has a fifty-two week low of $70.49 and a fifty-two week high of $88.55.
Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, November 21st. The home improvement retailer reported $1.05 EPS for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.03. The business had revenue of $16.77 billion for the quarter, compared to analyst estimates of $16.59 billion. Lowe’s Companies had a return on equity of 66.27% and a net margin of 5.16%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 EPS. analysts predict that Lowe’s Companies, Inc. will post 4.51 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 7th. Stockholders of record on Wednesday, January 24th will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Tuesday, January 23rd. Lowe’s Companies’s dividend payout ratio is 39.33%.
In other news, insider Nelson B. Peace sold 3,352 shares of the stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $80.20, for a total transaction of $268,830.40. Following the transaction, the insider now owns 4,650 shares of the company’s stock, valued at approximately $372,930. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Paul D. Ramsay sold 2,098 shares of the 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 transaction, 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. In the last three months, insiders have sold 13,303 shares of company stock worth $1,047,406. 0.11% of the stock is currently owned by insiders.
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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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