1,382 Shares in Lowe’s Companies, Inc. (LOW) Purchased by Rainier Group Investment Advisory LLC

Rainier Group Investment Advisory LLC bought a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) in the first quarter, Holdings Channel reports. The institutional investor bought 1,382 shares of the home improvement retailer’s stock, valued at approximately $121,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Magellan Asset Management Ltd lifted its holdings in shares of Lowe’s Companies by 4.5% during the fourth quarter. Magellan Asset Management Ltd now owns 24,499,155 shares of the home improvement retailer’s stock worth $2,276,951,000 after purchasing an additional 1,059,347 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Lowe’s Companies by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 9,116,711 shares of the home improvement retailer’s stock worth $845,590,000 after purchasing an additional 187,857 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Lowe’s Companies by 2.5% during the fourth quarter. Bank of New York Mellon Corp now owns 8,540,774 shares of the home improvement retailer’s stock worth $793,780,000 after purchasing an additional 208,072 shares during the period. OppenheimerFunds Inc. lifted its holdings in shares of Lowe’s Companies by 0.8% during the first quarter. OppenheimerFunds Inc. now owns 6,093,631 shares of the home improvement retailer’s stock worth $534,715,000 after purchasing an additional 48,900 shares during the period. Finally, Lazard Asset Management LLC lifted its holdings in shares of Lowe’s Companies by 33.4% during the fourth quarter. Lazard Asset Management LLC now owns 3,615,861 shares of the home improvement retailer’s stock worth $336,056,000 after purchasing an additional 905,463 shares during the period. 72.93% of the stock is owned by hedge funds and other institutional investors.

Shares of Lowe’s Companies traded up $0.01, hitting $99.47, during trading hours on Thursday, MarketBeat reports. 17,369 shares of the company’s stock were exchanged, compared to its average volume of 6,760,002. The company has a debt-to-equity ratio of 2.60, a current ratio of 1.02 and a quick ratio of 0.18. The company has a market cap of $82.02 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 1.11 and a beta of 1.35. Lowe’s Companies, Inc. has a fifty-two week low of $70.76 and a fifty-two week high of $108.98.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Wednesday, May 23rd. The home improvement retailer reported $1.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.22 by ($0.03). The business had revenue of $17.36 billion for the quarter, compared to analyst estimates of $17.44 billion. Lowe’s Companies had a return on equity of 66.36% and a net margin of 5.55%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.03 earnings per share. analysts anticipate that Lowe’s Companies, Inc. will post 5.44 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 8th. Investors of record on Wednesday, July 25th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.93%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Tuesday, July 24th. Lowe’s Companies’s payout ratio is presently 37.36%.

In related news, SVP Matthew V. Hollifield sold 12,362 shares of the business’s stock in a transaction that occurred on Friday, June 8th. The stock was sold at an average price of $99.56, for a total transaction of $1,230,760.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.30% of the stock is currently owned by insiders.

LOW has been the subject of a number of research reports. Telsey Advisory Group reaffirmed an “outperform” rating and set a $110.00 target price on shares of Lowe’s Companies in a report on Thursday, March 1st. Wedbush reaffirmed a “hold” rating and set a $80.00 target price (down previously from $85.00) on shares of Lowe’s Companies in a report on Thursday, March 1st. Deutsche Bank set a $107.00 target price on Lowe’s Companies and gave the stock a “buy” rating in a report on Thursday, March 1st. Royal Bank of Canada decreased their price target on Lowe’s Companies to $102.00 and set an “outperform” rating for the company in a report on Thursday, March 1st. Finally, Loop Capital started coverage on Lowe’s Companies in a report on Thursday, March 1st. They issued a “hold” rating and a $88.00 price target for the company. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-five have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $100.79.

Lowe’s Companies Company 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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Institutional Ownership by Quarter for Lowe`s Companies (NYSE:LOW)

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