Holderness Investments Co. grew its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 1.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,474 shares of the home improvement retailer’s stock after acquiring an additional 252 shares during the quarter. Holderness Investments Co.’s holdings in Lowe’s Companies were worth $1,360,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Advisors Preferred LLC bought a new position in Lowe’s Companies in the first quarter worth $26,000. Icon Wealth Partners LLC bought a new position in Lowe’s Companies in the first quarter worth $26,000. Next Capital Management LLC bought a new position in Lowe’s Companies in the second quarter worth $27,000. Weaver Consulting Group bought a new position in Lowe’s Companies in the first quarter worth $28,000. Finally, Prime Capital Investment Advisors LLC bought a new position in Lowe’s Companies in the first quarter worth $33,000. 76.36% of the stock is owned by institutional investors.
Several brokerages recently commented on LOW. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $116.00 target price (down from $126.00) on shares of Lowe’s Companies in a research report on Thursday, May 23rd. Gabelli reaffirmed a “buy” rating on shares of Lowe’s Companies in a research report on Thursday, May 23rd. SunTrust Banks reaffirmed a “buy” rating and issued a $120.00 target price on shares of Lowe’s Companies in a research report on Friday, May 24th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Lowe’s Companies in a research report on Friday, May 10th. Finally, Barclays raised their target price on Lowe’s Companies from $95.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Monday, June 24th. Ten research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $112.88.
In related news, insider Marvin R. Ellison acquired 10,000 shares of the business’s stock in a transaction on Friday, May 24th. The stock was bought at an average cost of $95.05 per share, with a total value of $950,500.00. Following the completion of the acquisition, the insider now owns 80,090 shares in the company, valued at $7,612,554.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Donald Frieson acquired 2,030 shares of the business’s stock in a transaction on Wednesday, June 19th. The shares were bought at an average cost of $98.69 per share, with a total value of $200,340.70. Following the completion of the acquisition, the executive vice president now owns 10,980 shares of the company’s stock, valued at approximately $1,083,616.20. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 12,280 shares of company stock valued at $1,174,566. Company insiders own 0.07% of the company’s stock.
Shares of NYSE LOW traded up $0.54 during midday trading on Friday, reaching $93.92. 4,358,900 shares of the company traded hands, compared to its average volume of 4,592,553. The firm has a market cap of $73.27 billion, a PE ratio of 18.27, a PEG ratio of 1.22 and a beta of 1.36. The stock’s 50-day simple moving average is $101.84 and its 200-day simple moving average is $103.71. Lowe’s Companies, Inc. has a 12 month low of $84.75 and a 12 month high of $118.23. The company has a debt-to-equity ratio of 6.37, a quick ratio of 0.24 and a current ratio of 1.09.
Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, May 22nd. The home improvement retailer reported $1.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.33 by ($0.11). The company had revenue of $17.74 billion for the quarter, compared to the consensus estimate of $17.65 billion. Lowe’s Companies had a net margin of 3.31% and a return on equity of 91.85%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.19 earnings per share. On average, equities research analysts expect that Lowe’s Companies, Inc. will post 5.59 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.34%. Lowe’s Companies’s payout ratio is presently 42.80%.
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. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.
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