Bank OZK cut its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 6.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,329 shares of the home improvement retailer’s stock after selling 614 shares during the quarter. Bank OZK’s holdings in Lowe’s Companies were worth $1,071,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Tdam USA Inc. increased its position in shares of Lowe’s Companies by 6.9% during the 2nd quarter. Tdam USA Inc. now owns 7,850 shares of the home improvement retailer’s stock worth $750,000 after purchasing an additional 504 shares during the last quarter. Central Bank & Trust Co. grew its position in Lowe’s Companies by 4.3% in the 2nd quarter. Central Bank & Trust Co. now owns 12,351 shares of the home improvement retailer’s stock valued at $1,180,000 after acquiring an additional 511 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its position in Lowe’s Companies by 13.3% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 4,367 shares of the home improvement retailer’s stock valued at $417,000 after acquiring an additional 511 shares in the last quarter. First Personal Financial Services grew its position in Lowe’s Companies by 6.3% in the 3rd quarter. First Personal Financial Services now owns 8,884 shares of the home improvement retailer’s stock valued at $1,020,000 after acquiring an additional 523 shares in the last quarter. Finally, Dillon & Associates Inc. grew its position in Lowe’s Companies by 0.7% in the 2nd quarter. Dillon & Associates Inc. now owns 75,416 shares of the home improvement retailer’s stock valued at $7,240,000 after acquiring an additional 535 shares in the last quarter. 74.59% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have weighed in on LOW shares. Loop Capital set a $115.00 target price on Lowe’s Companies and gave the company a “buy” rating in a research report on Wednesday, July 18th. KeyCorp reaffirmed an “overweight” rating and issued a $115.00 target price (up from $105.00) on shares of Lowe’s Companies in a research report on Tuesday, July 24th. Zacks Investment Research raised Lowe’s Companies from a “hold” rating to a “buy” rating and set a $113.00 target price for the company in a research report on Tuesday, July 24th. Jefferies Financial Group started coverage on Lowe’s Companies in a research report on Tuesday, August 21st. They issued a “buy” rating and a $118.00 target price for the company. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of Lowe’s Companies in a research report on Wednesday, August 22nd. Nine research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $112.41.
In other Lowe’s Companies news, Director Lisa W. Wardell bought 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, for a total transaction of $29,407.56. Following the completion of the purchase, the director now directly owns 273 shares in the company, valued at $29,407.56. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Marshall A. Croom sold 15,735 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 63,099 shares of the company’s stock, valued at approximately $7,231,776.39. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.
Shares of LOW opened at $96.82 on Friday. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.06 and a quick ratio of 0.25. The stock has a market capitalization of $81.31 billion, a PE ratio of 22.05, a P/E/G ratio of 1.35 and a beta of 1.52. Lowe’s Companies, Inc. has a 1 year low of $77.14 and a 1 year high of $117.70.
Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Wednesday, August 22nd. The home improvement retailer reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.05. The business had revenue of $20.89 billion during the quarter, compared to analysts’ expectations of $20.79 billion. Lowe’s Companies had a return on equity of 71.96% and a net margin of 5.58%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.57 EPS. As a group, sell-side analysts expect that Lowe’s Companies, Inc. will post 5.18 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 6th. Stockholders of record on Wednesday, January 23rd will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.98%. Lowe’s Companies’s payout ratio is presently 43.74%.
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Lowe’s Companies 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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