Clarus Wealth Advisors raised its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 93.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,599 shares of the home improvement retailer’s stock after purchasing an additional 2,705 shares during the period. Clarus Wealth Advisors’ holdings in Lowe’s Companies were worth $616,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in LOW. Nuveen Asset Management LLC raised its position in Lowe’s Companies by 6,680.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 6,312,448 shares of the home improvement retailer’s stock worth $636,989,000 after purchasing an additional 6,219,346 shares during the last quarter. Viking Global Investors LP bought a new position in Lowe’s Companies during the 2nd quarter worth $139,358,000. Prudential PLC raised its position in Lowe’s Companies by 456.1% during the 2nd quarter. Prudential PLC now owns 1,222,183 shares of the home improvement retailer’s stock worth $123,440,000 after purchasing an additional 1,002,390 shares during the last quarter. Eaton Vance Management raised its position in Lowe’s Companies by 49.9% during the 2nd quarter. Eaton Vance Management now owns 2,366,912 shares of the home improvement retailer’s stock worth $238,844,000 after purchasing an additional 788,392 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in Lowe’s Companies by 395.6% during the 1st quarter. Nordea Investment Management AB now owns 821,674 shares of the home improvement retailer’s stock worth $89,950,000 after purchasing an additional 655,882 shares during the last quarter. 76.23% of the stock is owned by institutional investors and hedge funds.
Lowe’s Companies stock traded up $2.62 during trading hours on Friday, reaching $110.81. 3,650,844 shares of the company’s stock were exchanged, compared to its average volume of 3,862,659. The company has a quick ratio of 0.19, a current ratio of 1.06 and a debt-to-equity ratio of 7.80. The firm’s 50 day simple moving average is $110.47 and its 200 day simple moving average is $105.75. Lowe’s Companies, Inc. has a twelve month low of $84.75 and a twelve month high of $118.23. The firm has a market capitalization of $82.20 billion, a PE ratio of 21.56, a PEG ratio of 1.35 and a beta of 1.30.
Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, August 21st. The home improvement retailer reported $2.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.00 by $0.15. The firm had revenue of $20.99 billion during the quarter, compared to the consensus estimate of $20.96 billion. Lowe’s Companies had a return on equity of 111.09% and a net margin of 3.52%. The business’s revenue was up .5% compared to the same quarter last year. During the same period last year, the business posted $2.07 EPS. Analysts anticipate that Lowe’s Companies, Inc. will post 5.67 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be paid a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $2.20 annualized dividend and a dividend yield of 1.99%. Lowe’s Companies’s dividend payout ratio is presently 42.80%.
Several brokerages recently issued reports on LOW. Citigroup raised their target price on Lowe’s Companies from $122.00 to $137.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Jefferies Financial Group set a $125.00 target price on Lowe’s Companies and gave the stock a “buy” rating in a research report on Monday, August 26th. ValuEngine lowered Lowe’s Companies from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Raymond James lowered Lowe’s Companies from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Finally, Goldman Sachs Group began coverage on Lowe’s Companies in a research report on Thursday, July 11th. They set a “buy” rating and a $119.00 target price for the company. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $119.48.
In other news, CAO Matthew V. Hollifield sold 12,136 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $112.34, for a total value of $1,363,358.24. Following the completion of the sale, the chief accounting officer now directly owns 28,017 shares in the company, valued at approximately $3,147,429.78. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Jennifer L. Weber sold 12,589 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $112.62, for a total value of $1,417,773.18. Following the completion of the sale, the executive vice president now owns 17,440 shares of the company’s stock, valued at $1,964,092.80. The disclosure for this sale can be found here. Company insiders own 0.07% of the company’s stock.
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.
Featured Article: How to Trade Using Analysts Ratings
Want to see what other hedge funds are holding LOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lowe’s Companies, Inc. (NYSE:LOW).
Receive News & Ratings for Lowe's Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lowe's Companies and related companies with MarketBeat.com's FREE daily email newsletter.