Lowe’s (LOW) Holdings Lessened by Waters Parkerson & CO. LLC

Waters Parkerson & CO. LLC trimmed its holdings in Lowe’s (NYSE:LOW) by 2.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 81,464 shares of the home improvement retailer’s stock after selling 2,050 shares during the period. Waters Parkerson & CO. LLC’s holdings in Lowe’s were worth $7,148,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. TCI Wealth Advisors Inc. raised its position in shares of Lowe’s by 10.6% in the 4th quarter. TCI Wealth Advisors Inc. now owns 5,021 shares of the home improvement retailer’s stock valued at $467,000 after purchasing an additional 483 shares in the last quarter. Burke & Herbert Bank & Trust Co. raised its position in shares of Lowe’s by 6.6% in the 4th quarter. Burke & Herbert Bank & Trust Co. now owns 8,068 shares of the home improvement retailer’s stock valued at $750,000 after purchasing an additional 500 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Lowe’s by 50.0% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,500 shares of the home improvement retailer’s stock valued at $139,000 after purchasing an additional 500 shares in the last quarter. Barnett & Company Inc. raised its position in shares of Lowe’s by 13.6% in the 4th quarter. Barnett & Company Inc. now owns 4,183 shares of the home improvement retailer’s stock valued at $389,000 after purchasing an additional 500 shares in the last quarter. Finally, Coastline Trust Co raised its position in shares of Lowe’s by 4.8% in the 4th quarter. Coastline Trust Co now owns 11,090 shares of the home improvement retailer’s stock valued at $1,031,000 after purchasing an additional 505 shares in the last quarter. 73.15% of the stock is currently owned by institutional investors.

LOW has been the topic of a number of recent analyst reports. Morgan Stanley set a $115.00 target price on Lowe’s and gave the company a “buy” rating in a research report on Monday, January 22nd. BTIG Research upped their target price on Lowe’s to $115.00 and gave the company a “buy” rating in a research report on Friday, January 19th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $124.00 target price (up from $103.00) on shares of Lowe’s in a research report on Wednesday, January 24th. Deutsche Bank set a $107.00 target price on Lowe’s and gave the company a “buy” rating in a research report on Thursday, March 1st. Finally, Jefferies Group raised Lowe’s from a “hold” rating to a “buy” rating and upped their target price for the company from $81.00 to $129.00 in a research report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $99.00.

Shares of Lowe’s opened at $86.34 on Friday, according to MarketBeat Ratings. The firm has a market cap of $70.94 billion, a P/E ratio of 19.67, a P/E/G ratio of 0.90 and a beta of 1.33. The company has a quick ratio of 0.11, a current ratio of 1.06 and a debt-to-equity ratio of 2.65. Lowe’s has a 12 month low of $70.76 and a 12 month high of $108.98.

Lowe’s (NYSE:LOW) last issued its quarterly earnings data on Wednesday, February 28th. The home improvement retailer reported $0.74 EPS for the quarter, missing the Zacks’ consensus estimate of $0.87 by ($0.13). The company had revenue of $15.49 billion for the quarter, compared to the consensus estimate of $15.34 billion. Lowe’s had a return on equity of 65.17% and a net margin of 5.02%. Lowe’s’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.86 earnings per share. equities analysts forecast that Lowe’s will post 5.46 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 9th. Investors of record on Wednesday, April 25th were paid a dividend of $0.41 per share. The ex-dividend date was Tuesday, April 24th. This represents a $1.64 dividend on an annualized basis and a yield of 1.90%. Lowe’s’s payout ratio is currently 37.36%.

Lowe’s declared that its Board of Directors has approved a share buyback program on Friday, January 26th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the home improvement retailer to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Lowe’s Profile

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. It offers a line of products for maintenance, repair, remodeling, and decorating. The company provides home improvement products in various categories, such as lumber and building materials, tools and hardware, appliances, fashion fixtures, rough plumbing and electrical, seasonal and outdoor living, lawn and garden, paint, millwork, flooring, and kitchens, as well as outdoor power equipment.

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Institutional Ownership by Quarter for Lowe`s (NYSE:LOW)

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