Steinberg Global Asset Management increased its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 9.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,671 shares of the home improvement retailer’s stock after purchasing an additional 1,122 shares during the quarter. Steinberg Global Asset Management’s holdings in Lowe’s Companies were worth $1,013,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of LOW. SRS Capital Advisors Inc. grew its stake in Lowe’s Companies by 0.4% during the 1st quarter. SRS Capital Advisors Inc. now owns 1,236 shares of the home improvement retailer’s stock valued at $101,000 after acquiring an additional 5 shares in the last quarter. Harbour Capital Advisors LLC purchased a new position in Lowe’s Companies during the 1st quarter valued at about $103,000. Atlantic Trust LLC purchased a new position in Lowe’s Companies during the 2nd quarter valued at about $105,000. State of Alaska Department of Revenue grew its stake in Lowe’s Companies by 8.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 1,440 shares of the home improvement retailer’s stock valued at $111,000 after acquiring an additional 110 shares in the last quarter. Finally, Balentine LLC purchased a new position in Lowe’s Companies during the 1st quarter valued at about $120,000. 73.29% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Nelson B. Peace sold 3,352 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $80.20, for a total transaction of $268,830.40. Following the completion of the transaction, the insider now directly owns 4,650 shares in the company, valued at $372,930. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul D. Ramsay sold 2,098 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $78.02, for a total value of $163,685.96. Following the transaction, the insider now owns 8,400 shares of the company’s stock, valued at $655,368. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,303 shares of company stock valued at $1,047,406. Corporate insiders own 0.11% of the company’s stock.
Several equities analysts have weighed in on the company. Longbow Research reaffirmed a “buy” rating and set a $95.00 target price on shares of Lowe’s Companies in a research note on Monday, August 14th. Jefferies Group reaffirmed a “hold” rating and set a $75.00 target price on shares of Lowe’s Companies in a research note on Thursday, September 28th. Zacks Investment Research raised Lowe’s Companies from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a research note on Friday, August 11th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $80.00 target price on shares of Lowe’s Companies in a research note on Friday, September 29th. Finally, Atlantic Securities cut Lowe’s Companies from an “overweight” rating to a “neutral” rating and set a $92.00 target price on the stock. in a research note on Tuesday, November 28th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and sixteen have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $87.40.
Lowe’s Companies, Inc. (LOW) traded down $3.91 on Thursday, reaching $82.40. The company had a trading volume of 12,291,000 shares, compared to its average volume of 5,951,254. Lowe’s Companies, Inc. has a 12-month low of $70.49 and a 12-month high of $88.55. The company has a current ratio of 1.02, a quick ratio of 0.12 and a debt-to-equity ratio of 2.71. The firm has a market cap of $71,616.63, a price-to-earnings ratio of 19.14, a P/E/G ratio of 1.38 and a beta of 1.15.
Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, November 21st. The home improvement retailer reported $1.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.03. Lowe’s Companies had a return on equity of 66.27% and a net margin of 5.16%. The firm had revenue of $16.77 billion during the quarter, compared to analyst estimates of $16.59 billion. During the same period in the previous year, the company earned $0.88 EPS. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. research analysts expect that Lowe’s Companies, Inc. will post 4.51 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 7th. Investors of record on Wednesday, January 24th will be issued a $0.41 dividend. The ex-dividend date is Tuesday, January 23rd. This represents a $1.64 annualized dividend and a yield of 1.99%. Lowe’s Companies’s dividend payout ratio (DPR) is currently 39.33%.
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Lowe’s Companies Company Profile
Lowe’s Companies, Inc (Lowe’s) is a home improvement company. The Company operates approximately 2,370 home improvement and hardware stores. The Company offers a range of products for maintenance, repair, remodeling and decorating. The Company offers home improvement products in categories, including Lumber and Building Materials; Tools and Hardware; Appliances; Fashion Fixtures; Rough Plumbing and Electrical; Lawn and Garden; Seasonal and Outdoor Living; Paint; Flooring; Millwork, and Kitchens.
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