Murphy Capital Management Inc. lowered its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 6.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,470 shares of the home improvement retailer’s stock after selling 1,575 shares during the period. Murphy Capital Management Inc.’s holdings in Lowe’s Companies were worth $2,809,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Lourd Capital LLC purchased a new position in shares of Lowe’s Companies during the 3rd quarter valued at $382,000. Pioneer Trust Bank N A OR lifted its position in shares of Lowe’s Companies by 11.3% during the 3rd quarter. Pioneer Trust Bank N A OR now owns 49,353 shares of the home improvement retailer’s stock valued at $5,666,000 after buying an additional 5,025 shares during the last quarter. Ipswich Investment Management Co. Inc. purchased a new position in shares of Lowe’s Companies during the 3rd quarter valued at $222,000. Smith Shellnut Wilson LLC ADV purchased a new position in shares of Lowe’s Companies during the 3rd quarter valued at $2,879,000. Finally, United Capital Management of KS Inc. purchased a new position in shares of Lowe’s Companies during the 3rd quarter valued at $1,500,000. 74.49% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have recently commented on LOW shares. Loop Capital set a $115.00 price target 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 set a $115.00 price target (up previously 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 price target on the stock 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 set a “buy” rating and a $118.00 price target on the stock. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of Lowe’s Companies in a research report on Wednesday, August 22nd. Eight equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $111.93.
Shares of LOW opened at $106.29 on Thursday. The stock has a market cap of $92.81 billion, a P/E ratio of 24.21, a P/E/G ratio of 1.54 and a beta of 1.39. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.25 and a current ratio of 1.06. Lowe’s Companies, Inc. has a 52-week low of $75.36 and a 52-week high of $117.70.
Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, August 22nd. The home improvement retailer reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.05. The business had revenue of $20.89 billion for 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 firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.57 EPS. As a group, research analysts expect that Lowe’s Companies, Inc. will post 5.19 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 7th. Investors of record on Wednesday, October 24th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, October 23rd. This represents a $1.92 dividend on an annualized basis and a yield of 1.81%. Lowe’s Companies’s dividend payout ratio (DPR) is 43.74%.
In other Lowe’s Companies news, CFO Marshall A. Croom sold 15,735 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 63,099 shares in the company, valued at approximately $7,231,776.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lisa W. Wardell bought 273 shares of the firm’s stock in a transaction on Friday, August 24th. The stock was acquired 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 disclosure for this purchase can be found here. 0.30% of the stock is owned by corporate insiders.
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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