Gateway Investment Advisers LLC reduced its stake in shares of Lowe's Companies, Inc. (NYSE:LOW) by 4.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 626,206 shares of the home improvement retailer’s stock after selling 31,776 shares during the quarter. Gateway Investment Advisers LLC owned about 0.08% of Lowe's Companies worth $58,200,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in LOW. Atlantic Trust LLC bought a new position in Lowe's Companies in the second quarter valued at approximately $105,000. Stonehearth Capital Management LLC bought a new position in Lowe's Companies in the fourth quarter valued at approximately $112,000. Motco boosted its stake 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 acquiring an additional 432 shares during the last quarter. Horan Capital Advisors LLC. bought a new position in Lowe's Companies in the third quarter valued at approximately $134,000. Finally, Bank of Nova Scotia Trust Co. bought a new position in Lowe's Companies in the third quarter valued at approximately $148,000. 72.41% of the stock is currently owned by institutional investors and hedge funds.
In other Lowe's Companies news, insider Nelson B. Peace sold 3,352 shares of Lowe's Companies stock in a transaction on Monday, November 27th. The shares were sold at an average price of $80.20, for a total value of $268,830.40. Following the sale, the insider now directly owns 4,650 shares in the company, valued at approximately $372,930. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is currently owned by insiders.
A number of equities analysts have issued reports on the stock. Atlantic Securities cut shares of Lowe's Companies from an “overweight” rating to a “neutral” rating and set a $92.00 price objective on the stock. in a research note on Tuesday, November 28th. Credit Suisse Group set a $116.00 price target on shares of Lowe's Companies and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Piper Jaffray Companies reissued a “hold” rating and set a $82.00 price target on shares of Lowe's Companies in a research report on Friday, November 24th. Stifel Nicolaus reissued a “buy” rating and set a $103.00 price target on shares of Lowe's Companies in a research report on Friday, December 22nd. Finally, Barclays raised shares of Lowe's Companies from an “equal weight” rating to an “overweight” rating in a research report on Friday, January 5th. Two analysts have rated the stock with a sell rating, nine have issued 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.
Shares of Lowe's Companies, Inc. (NYSE LOW) traded up $0.61 during mid-day trading on Monday, reaching $97.78. 8,070,000 shares of the company’s stock traded hands, compared to its average volume of 6,220,000. The company has a quick ratio of 0.12, a current ratio of 1.02 and a debt-to-equity ratio of 2.71. Lowe's Companies, Inc. has a 12-month low of $70.76 and a 12-month high of $108.98. The firm has a market cap of $81,130.00, a price-to-earnings ratio of 23.50, a P/E/G ratio of 0.91 and a beta of 1.19.
Lowe's Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, November 21st. The home improvement retailer reported $1.05 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $16.77 billion for the quarter, compared to analyst estimates of $16.59 billion. During the same period in the previous year, the business earned $0.88 EPS. The company’s revenue was up 6.6% compared to the same quarter last year. equities analysts expect that Lowe's Companies, Inc. will post 4.53 earnings per share for the current fiscal year.
Lowe's Companies declared that its Board of Directors has approved a share repurchase plan on Friday, January 26th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the home improvement retailer to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
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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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