Acorn Financial Advisory Services Inc. ADV reduced its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.9% in the 1st quarter, Holdings Channel reports. The firm owned 4,048 shares of the home improvement retailer’s stock after selling 119 shares during the quarter. Acorn Financial Advisory Services Inc. ADV’s holdings in Lowe’s Companies were worth $774,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in LOW. Norges Bank bought a new position in Lowe’s Companies during the 4th quarter worth $1,285,445,000. FMR LLC grew its holdings in Lowe’s Companies by 10.7% during the 4th quarter. FMR LLC now owns 30,352,415 shares of the home improvement retailer’s stock worth $4,871,866,000 after acquiring an additional 2,940,777 shares during the period. Maj Invest Holding A S grew its holdings in Lowe’s Companies by 106.9% during the 4th quarter. Maj Invest Holding A S now owns 1,934,106 shares of the home improvement retailer’s stock worth $310,443,000 after acquiring an additional 999,428 shares during the period. Lazard Asset Management LLC grew its holdings in Lowe’s Companies by 17.8% during the 4th quarter. Lazard Asset Management LLC now owns 6,502,725 shares of the home improvement retailer’s stock worth $1,043,751,000 after acquiring an additional 982,465 shares during the period. Finally, Morgan Stanley grew its holdings in Lowe’s Companies by 15.6% during the 4th quarter. Morgan Stanley now owns 5,819,866 shares of the home improvement retailer’s stock worth $934,149,000 after acquiring an additional 783,731 shares during the period. 76.11% of the stock is owned by institutional investors and hedge funds.
In other news, Director David H. Batchelder bought 6,250 shares of the company’s stock in a transaction on Friday, February 26th. The shares were purchased at an average price of $159.48 per share, with a total value of $996,750.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 0.07% of the stock is owned by company insiders.
Shares of Lowe’s Companies stock traded up $1.32 during mid-day trading on Monday, hitting $199.83. 122,555 shares of the stock were exchanged, compared to its average volume of 4,021,833. Lowe’s Companies, Inc. has a 12 month low of $91.49 and a 12 month high of $198.67. The company has a 50-day simple moving average of $175.93 and a 200 day simple moving average of $167.63. The company has a debt-to-equity ratio of 5.20, a quick ratio of 0.57 and a current ratio of 1.38. The company has a market capitalization of $143.33 billion, a P/E ratio of 28.23, a P/E/G ratio of 1.18 and a beta of 1.37.
Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, February 23rd. The home improvement retailer reported $1.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.12. Lowe’s Companies had a net margin of 6.29% and a return on equity of 211.33%. The firm had revenue of $20.31 billion for the quarter, compared to analysts’ expectations of $19.54 billion. During the same quarter last year, the firm earned $0.94 EPS. Analysts predict that Lowe’s Companies, Inc. will post 8.7 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 5th. Shareholders of record on Wednesday, April 21st will be given a dividend of $0.60 per share. The ex-dividend date is Tuesday, April 20th. This represents a $2.40 annualized dividend and a dividend yield of 1.20%. Lowe’s Companies’s dividend payout ratio is currently 41.96%.
A number of brokerages have weighed in on LOW. Wells Fargo & Company increased their price target on Lowe’s Companies from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, March 29th. They noted that the move was a valuation call. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell began coverage on Lowe’s Companies in a report on Monday, March 15th. They set a “buy” rating and a $195.00 price target for the company. Loop Capital increased their price target on Lowe’s Companies from $195.00 to $220.00 and gave the stock a “buy” rating in a report on Monday. Zelman & Associates upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday, February 12th. Finally, Gordon Haskett upgraded Lowe’s Companies from an “accumulate” rating to a “buy” rating and set a $202.00 target price for the company in a research note on Wednesday, March 3rd. Four research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company. Lowe’s Companies has a consensus rating of “Buy” and an average target price of $179.88.
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 appliances, dÃ©cor, paint, hardware, millwork, lawn and garden, lighting, lumber and building materials, flooring, kitchens and bath, rough plumbing and electrical, seasonal and outdoor living, and tools.
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