Robecosam AG increased its position in Lowe’s Companies, Inc. (NYSE:LOW) by 7.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 84,083 shares of the home improvement retailer’s stock after buying an additional 5,648 shares during the period. Robecosam AG’s holdings in Lowe’s Companies were worth $9,628,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Ironsides Asset Advisors LLC raised its position in Lowe’s Companies by 698.3% in the second quarter. Ironsides Asset Advisors LLC now owns 8,327,089 shares of the home improvement retailer’s stock valued at $98,637,000 after purchasing an additional 7,284,000 shares during the period. Boston Partners raised its position in Lowe’s Companies by 382.4% in the second quarter. Boston Partners now owns 4,784,235 shares of the home improvement retailer’s stock valued at $457,230,000 after purchasing an additional 3,792,479 shares during the period. Winslow Capital Management LLC purchased a new position in Lowe’s Companies in the second quarter valued at about $303,908,000. Charles Schwab Investment Advisory Inc. purchased a new position in Lowe’s Companies in the second quarter valued at about $266,540,000. Finally, Artisan Partners Limited Partnership purchased a new position in Lowe’s Companies in the second quarter valued at about $206,665,000. 74.60% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have commented on the company. Wedbush set a $105.00 price objective on Lowe’s Companies and gave the company a “hold” rating in a research report on Thursday, August 23rd. Bank of America raised their price objective on Lowe’s Companies from $113.00 to $126.00 and gave the company a “buy” rating in a research report on Thursday, August 23rd. Argus raised their price objective on Lowe’s Companies to $120.00 and gave the company a “buy” rating in a research report on Thursday, August 23rd. Telsey Advisory Group lifted their target price on Lowe’s Companies from $123.00 to $126.00 and gave the stock an “outperform” rating in a research report on Friday, September 28th. Finally, Loop Capital set a $130.00 target price on Lowe’s Companies and gave the stock a “buy” rating in a research report on Wednesday, August 22nd. Eight analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Lowe’s Companies presently has a consensus rating of “Buy” and an average target price of $112.11.
In related news, CFO Marshall A. Croom sold 15,735 shares of Lowe’s Companies stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $114.61, for a total value of $1,803,388.35. Following the completion of the transaction, the chief financial officer now directly owns 63,099 shares in the company, valued at $7,231,776.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lisa W. Wardell purchased 273 shares of the firm’s stock in a transaction that occurred on Friday, August 24th. The stock was purchased at an average price of $107.72 per share, with a total value of $29,407.56. Following the completion of the purchase, the director now directly owns 273 shares of the company’s stock, valued at approximately $29,407.56. The disclosure for this purchase can be found here. 0.30% of the stock is currently owned by company insiders.
NYSE:LOW opened at $97.44 on Friday. The stock has a market capitalization of $76.58 billion, a P/E ratio of 22.20, a PEG ratio of 1.27 and a beta of 1.39. Lowe’s Companies, Inc. has a one year low of $75.36 and a one year high of $117.70. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.06 and a quick ratio of 0.25.
Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Wednesday, August 22nd. The home improvement retailer reported $2.07 EPS for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.05. The business had revenue of $20.89 billion during the quarter, compared to the consensus estimate of $20.79 billion. Lowe’s Companies had a return on equity of 71.96% and a net margin of 5.58%. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the firm earned $1.57 earnings per share. On average, analysts predict that Lowe’s Companies, Inc. will post 5.19 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 7th. Investors of record on Wednesday, October 24th will be paid a $0.48 dividend. The ex-dividend date is Tuesday, October 23rd. This represents a $1.92 dividend on an annualized basis and a yield of 1.97%. Lowe’s Companies’s dividend payout ratio (DPR) is 43.74%.
Lowe’s Companies Company 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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