Independent Advisor Alliance raised its stake in Lowe's Companies, Inc. (NYSE:LOW) by 6.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,613 shares of the home improvement retailer’s stock after buying an additional 1,653 shares during the quarter. Independent Advisor Alliance’s holdings in Lowe's Companies were worth $2,175,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of LOW. Summit Global Investments acquired a new position in Lowe's Companies during the 2nd quarter worth about $1,421,000. Ffcm LLC lifted its stake in Lowe's Companies by 6.4% during the 2nd quarter. Ffcm LLC now owns 30,895 shares of the home improvement retailer’s stock worth $2,395,000 after acquiring an additional 1,853 shares in the last quarter. Burney Co. lifted its stake in Lowe's Companies by 3.9% during the 2nd quarter. Burney Co. now owns 145,724 shares of the home improvement retailer’s stock worth $11,162,000 after acquiring an additional 5,453 shares in the last quarter. PGGM Investments lifted its stake in Lowe's Companies by 45.8% during the 3rd quarter. PGGM Investments now owns 986,226 shares of the home improvement retailer’s stock worth $78,839,000 after acquiring an additional 309,870 shares in the last quarter. Finally, FIL Ltd lifted its stake in Lowe's Companies by 8.6% during the 2nd quarter. FIL Ltd now owns 1,972,527 shares of the home improvement retailer’s stock worth $152,931,000 after acquiring an additional 155,662 shares in the last quarter. Institutional investors own 72.54% of the company’s stock.
LOW has been the topic of several research reports. Zacks Investment Research raised Lowe's Companies from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Royal Bank of Canada set a $81.00 price target on Lowe's Companies and gave the company a “buy” rating in a research report on Monday, October 30th. Robert W. Baird set a $87.00 price target on Lowe's Companies and gave the company a “buy” rating in a research report on Tuesday, October 31st. BMO Capital Markets reaffirmed a “hold” rating and issued a $82.00 price target on shares of Lowe's Companies in a research report on Thursday, November 2nd. Finally, KeyCorp started coverage on Lowe's Companies in a research report on Monday, November 6th. They issued an “overweight” rating and a $98.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-three have given a buy rating to the stock. Lowe's Companies presently has an average rating of “Buy” and an average target price of $96.35.
In other news, insider Nelson B. Peace sold 3,352 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $80.20, for a total value of $268,830.40. Following the completion of the sale, the insider now directly owns 4,650 shares of the company’s stock, valued at approximately $372,930. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is owned by company insiders.
Lowe's Companies, Inc. (NYSE:LOW) opened at $97.58 on Tuesday. The company has a quick ratio of 0.12, a current ratio of 1.02 and a debt-to-equity ratio of 2.71. The firm has a market capitalization of $80,970.00, a P/E ratio of 23.46, a price-to-earnings-growth ratio of 1.10 and a beta of 1.19. Lowe's Companies, Inc. has a 12 month low of $70.76 and a 12 month high of $108.98.
Lowe's Companies (NYSE:LOW) last posted its quarterly earnings results on Tuesday, November 21st. The home improvement retailer reported $1.05 EPS for the quarter, beating the consensus estimate of $1.02 by $0.03. The business had revenue of $16.77 billion during the quarter, compared to analysts’ expectations of $16.59 billion. Lowe's Companies had a return on equity of 66.27% and a net margin of 5.16%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the firm earned $0.88 EPS. equities research analysts predict that Lowe's Companies, Inc. will post 4.52 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 7th. Stockholders of record on Wednesday, January 24th will be issued a $0.41 dividend. The ex-dividend date of this dividend is Tuesday, January 23rd. This represents a $1.64 annualized dividend and a dividend yield of 1.68%. Lowe's Companies’s dividend payout ratio is currently 39.42%.
Lowe's Companies declared that its Board of Directors has initiated a stock repurchase program on Friday, January 26th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the home improvement retailer to purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
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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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