Gulf International Bank UK Ltd boosted its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 278,717 shares of the home improvement retailer’s stock after purchasing an additional 9,881 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Lowe’s Companies were worth $32,002,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in LOW. Magellan Asset Management Ltd raised its stake in shares of Lowe’s Companies by 0.3% in the 2nd quarter. Magellan Asset Management Ltd now owns 20,201,275 shares of the home improvement retailer’s stock valued at $1,930,636,000 after buying an additional 51,787 shares in the last quarter. Ironsides Asset Advisors LLC grew its holdings in shares of Lowe’s Companies by 698.3% in the 2nd quarter. Ironsides Asset Advisors LLC now owns 8,327,089 shares of the home improvement retailer’s stock worth $98,637,000 after purchasing an additional 7,284,000 shares during the last quarter. Boston Partners grew its holdings in shares of Lowe’s Companies by 382.4% in the 2nd quarter. Boston Partners now owns 4,784,235 shares of the home improvement retailer’s stock worth $457,230,000 after purchasing an additional 3,792,479 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Lowe’s Companies by 1.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 3,423,886 shares of the home improvement retailer’s stock worth $327,221,000 after purchasing an additional 61,681 shares during the last quarter. Finally, Winslow Capital Management LLC bought a new stake in shares of Lowe’s Companies in the 2nd quarter worth about $303,908,000. Hedge funds and other institutional investors own 74.59% of the company’s stock.
Several equities research analysts have recently weighed in on the stock. Goldman Sachs Group set a $125.00 target price on shares of Lowe’s Companies and gave the stock a “buy” rating in a report on Friday, September 28th. Bank of America set a $132.00 target price on shares of Lowe’s Companies and gave the stock a “buy” rating in a report on Tuesday, October 2nd. SunTrust Banks raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Friday, September 28th. Telsey Advisory Group upped their target price on shares of Lowe’s Companies from $123.00 to $126.00 and gave the stock an “outperform” rating in a report on Friday, September 28th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $130.00 target price (up previously from $120.00) on shares of Lowe’s Companies in a report on Monday, September 17th. Eight investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Lowe’s Companies currently has a consensus rating of “Buy” and a consensus target price of $112.41.
Shares of NYSE:LOW opened at $97.51 on Wednesday. Lowe’s Companies, Inc. has a 12 month low of $77.14 and a 12 month high of $117.70. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.25 and a current ratio of 1.06. The stock has a market cap of $78.26 billion, a price-to-earnings ratio of 22.21, a P/E/G ratio of 1.30 and a beta of 1.52.
Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, August 22nd. The home improvement retailer reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.05. Lowe’s Companies had a net margin of 5.58% and a return on equity of 71.96%. The firm had revenue of $20.89 billion for the quarter, compared to analyst estimates of $20.79 billion. During the same quarter in the prior year, the firm earned $1.57 EPS. The company’s revenue was up 7.1% on a year-over-year basis. Analysts expect that Lowe’s Companies, Inc. will post 5.19 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 7th. Stockholders of record on Wednesday, October 24th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Tuesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 43.74%.
In other Lowe’s Companies news, Director Lisa W. Wardell bought 273 shares of Lowe’s Companies stock in a transaction dated Friday, August 24th. The shares were bought at an average price of $107.72 per share, with a total value of $29,407.56. Following the purchase, the director now owns 273 shares of the company’s stock, valued at $29,407.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Marshall A. Croom sold 15,735 shares of the firm’s stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $114.61, for a total transaction 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 approximately $7,231,776.39. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.
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About Lowe’s Companies
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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