Los Angeles Capital Management & Equity Research Inc. cut its stake in Lowe's Companies, Inc. (NYSE:LOW) by 75.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,076 shares of the home improvement retailer’s stock after selling 178,866 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in Lowe's Companies were worth $4,563,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Private Harbour Investment Management & Counsel LLC purchased a new stake in shares of Lowe's Companies in the 3rd quarter worth about $713,000. Toronto Dominion Bank grew its position in Lowe's Companies by 32.3% during the 3rd quarter. Toronto Dominion Bank now owns 330,946 shares of the home improvement retailer’s stock valued at $26,454,000 after purchasing an additional 80,780 shares during the last quarter. New York State Common Retirement Fund grew its position in Lowe's Companies by 2.5% during the 3rd quarter. New York State Common Retirement Fund now owns 2,496,799 shares of the home improvement retailer’s stock valued at $199,594,000 after purchasing an additional 61,425 shares during the last quarter. Jarislowsky Fraser Ltd grew its position in Lowe's Companies by 78.7% during the 3rd quarter. Jarislowsky Fraser Ltd now owns 7,135 shares of the home improvement retailer’s stock valued at $570,000 after purchasing an additional 3,143 shares during the last quarter. Finally, Tower Bridge Advisors grew its position in Lowe's Companies by 7.1% during the 3rd quarter. Tower Bridge Advisors now owns 33,752 shares of the home improvement retailer’s stock valued at $2,698,000 after purchasing an additional 2,240 shares during the last quarter. Institutional investors and hedge funds own 73.12% of the company’s stock.
Lowe's Companies, Inc. (NYSE:LOW) traded up $5.12 during midday trading on Friday, reaching $100.86. 14,246,152 shares of the company’s stock traded hands, compared to its average volume of 6,240,000. The company has a debt-to-equity ratio of 2.71, a current ratio of 1.02 and a quick ratio of 0.12. The stock has a market capitalization of $83,690.00, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 1.44 and a beta of 1.14. Lowe's Companies, Inc. has a 52 week low of $70.76 and a 52 week high of $102.28.
Lowe's Companies (NYSE:LOW) last posted its quarterly earnings data on Tuesday, November 21st. The home improvement retailer reported $1.05 EPS for the quarter, topping the consensus estimate of $1.02 by $0.03. Lowe's Companies had a net margin of 5.16% and a return on equity of 66.27%. The company had revenue of $16.77 billion during the quarter, compared to analyst estimates of $16.59 billion. During the same period in the previous year, the firm earned $0.88 earnings per share. Lowe's Companies’s quarterly revenue was up 6.6% compared to the same quarter last year. research analysts anticipate that Lowe's Companies, Inc. will post 4.51 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 7th. Stockholders of record on Wednesday, January 24th will be given a dividend of $0.41 per share. The ex-dividend date is Tuesday, January 23rd. This represents a $1.64 annualized dividend and a dividend yield of 1.63%. Lowe's Companies’s dividend payout ratio (DPR) is 39.42%.
Several analysts recently commented on the stock. Stifel Nicolaus reissued a “buy” rating and set a $103.00 price objective on shares of Lowe's Companies in a research report on Friday, December 22nd. Barclays raised shares of Lowe's Companies from an “equal weight” rating to an “overweight” rating in a report on Friday, January 5th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $82.00 price target on shares of Lowe's Companies in a report on Friday, November 24th. Robert W. Baird reaffirmed a “buy” rating and set a $110.00 price target on shares of Lowe's Companies in a report on Wednesday, January 3rd. Finally, Zacks Investment Research upgraded shares of Lowe's Companies from a “sell” rating to a “hold” rating in a research note on Thursday, September 21st. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eighteen have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $88.62.
In other news, insider Nelson B. Peace sold 3,352 shares of Lowe's Companies stock in a transaction on Monday, November 27th. The stock was sold at an average price of $80.20, for a total transaction of $268,830.40. Following the completion of the sale, the insider now directly owns 4,650 shares in the company, valued at $372,930. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.11% of the stock is currently owned by company insiders.
ILLEGAL ACTIVITY NOTICE: “Lowe's Companies, Inc. (LOW) Shares Sold by Los Angeles Capital Management & Equity Research Inc.” was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this report on another domain, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright laws. The original version of this report can be read at https://www.dispatchtribunal.com/2018/01/13/los-angeles-capital-management-s-companies-inc-low.html.
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.
Receive News & Ratings for Lowe's Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lowe's Companies and related companies with MarketBeat.com's FREE daily email newsletter.