Independent Advisor Alliance increased its stake in shares of Lowe's Companies, Inc. (NYSE:LOW) by 6.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,613 shares of the home improvement retailer’s stock after acquiring an additional 1,653 shares during the period. Independent Advisor Alliance’s holdings in Lowe's Companies were worth $2,175,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Atlantic Trust LLC bought a new position in Lowe's Companies in the second quarter valued at $105,000. State of Alaska Department of Revenue grew its position in Lowe's Companies by 8.3% in the second quarter. State of Alaska Department of Revenue now owns 1,440 shares of the home improvement retailer’s stock valued at $111,000 after purchasing an additional 110 shares in the last quarter. Motco grew its position in Lowe's Companies by 33.4% in the second quarter. Motco now owns 1,725 shares of the home improvement retailer’s stock valued at $134,000 after purchasing an additional 432 shares in the last quarter. Horan Capital Advisors LLC. bought a new position in Lowe's Companies in the third quarter valued at $134,000. Finally, Bank of Nova Scotia Trust Co. bought a new position in Lowe's Companies in the third quarter valued at $148,000. Institutional investors and hedge funds own 73.12% of the company’s stock.
LOW has been the subject of a number of analyst reports. Gordon Haskett initiated coverage on shares of Lowe's Companies in a research report on Tuesday, October 3rd. They issued an “accumulate” rating and a $88.00 target price for the company. Royal Bank of Canada reaffirmed a “buy” rating and issued a $84.00 target price on shares of Lowe's Companies in a research report on Tuesday, November 7th. Deutsche Bank reaffirmed a “buy” rating and issued a $90.00 target price (up previously from $85.00) on shares of Lowe's Companies in a research report on Friday, October 6th. Zacks Investment Research raised shares of Lowe's Companies from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a research report on Wednesday, November 1st. Finally, Robert W. Baird set a $87.00 target price on shares of Lowe's Companies and gave the company a “buy” rating in a research report on Tuesday, October 31st. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eighteen have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $88.62.
Shares of Lowe's Companies, Inc. (LOW) opened at $100.86 on Friday. The company has a market cap of $83,690.00, a PE ratio of 24.25, a P/E/G ratio of 1.44 and a beta of 1.14. The company has a debt-to-equity ratio of 2.71, a quick ratio of 0.12 and a current ratio of 1.02. Lowe's Companies, Inc. has a twelve month low of $70.76 and a twelve month high of $102.28.
Lowe's Companies (NYSE:LOW) last announced its earnings results 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. The business had revenue of $16.77 billion during the quarter, compared to the consensus estimate of $16.59 billion. Lowe's Companies had a net margin of 5.16% and a return on equity of 66.27%. Lowe's Companies’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.88 EPS. analysts forecast that Lowe's Companies, Inc. will post 4.51 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 7th. Investors of record on Wednesday, January 24th will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Tuesday, January 23rd. Lowe's Companies’s payout ratio is 39.42%.
In related news, insider Nelson B. Peace sold 3,352 shares of Lowe's Companies stock in a transaction dated Monday, November 27th. The shares were 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 owns 4,650 shares of the company’s stock, valued at approximately $372,930. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.11% of the company’s stock.
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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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