Markston International LLC lowered its position in Lowe’s Cos. (NYSE:LOW) by 3.6% during the second quarter, Holdings Channel reports. The institutional investor owned 213,907 shares of the home improvement retailer’s stock after selling 8,033 shares during the period. Lowe’s Cos. comprises 1.6% of Markston International LLC’s holdings, making the stock its 16th largest position. Markston International LLC’s holdings in Lowe’s Cos. were worth $16,935,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of LOW. CWM LLC increased its stake in Lowe’s Cos. by 0.3% in the second quarter. CWM LLC now owns 1,264 shares of the home improvement retailer’s stock worth $100,000 after buying an additional 4 shares in the last quarter. Washington Trust Bank increased its position in Lowe’s Cos. by 13.6% in the second quarter. Washington Trust Bank now owns 1,596 shares of the home improvement retailer’s stock worth $126,000 after buying an additional 191 shares during the period. Jolley Asset Management LLC increased its position in Lowe’s Cos. by 65.0% in the second quarter. Jolley Asset Management LLC now owns 1,650 shares of the home improvement retailer’s stock worth $131,000 after buying an additional 650 shares during the period. Cribstone Capital Management LLC bought a new position in Lowe’s Cos. during the second quarter worth approximately $156,000. Finally, Rosenbaum Jay D. bought a new position in Lowe’s Cos. during the second quarter worth approximately $202,000. 75.48% of the stock is owned by institutional investors.
Shares of Lowe’s Cos. (NYSE:LOW) traded up 0.28% during midday trading on Friday, reaching $72.21. The company had a trading volume of 6,714,202 shares. The company has a market capitalization of $63.16 billion, a P/E ratio of 23.41 and a beta of 1.07. The company has a 50-day moving average price of $74.78 and a 200 day moving average price of $77.33. Lowe’s Cos. has a one year low of $62.62 and a one year high of $83.65.
Lowe’s Cos. (NYSE:LOW) last released its earnings results on Wednesday, August 17th. The home improvement retailer reported $1.37 EPS for the quarter, missing the Zacks’ consensus estimate of $1.41 by $0.04. The firm earned $18.26 billion during the quarter, compared to analysts’ expectations of $18.42 billion. Lowe’s Cos. had a net margin of 4.58% and a return on equity of 43.38%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.20 EPS. Equities analysts anticipate that Lowe’s Cos. will post $4.02 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 2nd. Shareholders of record on Wednesday, October 19th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Monday, October 17th. Lowe’s Cos.’s payout ratio is 45.16%.
A number of research analysts recently commented on LOW shares. Morgan Stanley reaffirmed an “overweight” rating on shares of Lowe’s Cos. in a research note on Wednesday, June 29th. Vetr raised Lowe’s Cos. from a “buy” rating to a “strong-buy” rating and set a $86.38 price target for the company in a research note on Monday, June 27th. Jefferies Group reaffirmed a “hold” rating on shares of Lowe’s Cos. in a research note on Monday, September 12th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $86.00 price target on shares of Lowe’s Cos. in a research note on Thursday, June 16th. Finally, Peel Hunt reaffirmed a “buy” rating and issued a $90.00 price target (up previously from $85.00) on shares of Lowe’s Cos. in a research note on Friday, September 23rd. Seven investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Lowe’s Cos. presently has an average rating of “Buy” and an average price target of $85.93.
About Lowe’s Cos.
Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.
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