Cardinal Capital Management cut its position in shares of Lowe’s Cos. (NYSE:LOW) by 0.2% during the second quarter, Holdings Channel reports. The firm owned 47,090 shares of the home improvement retailer’s stock after selling 109 shares during the period. Lowe’s Cos. comprises 1.5% of Cardinal Capital Management’s portfolio, making the stock its 25th largest position. Cardinal Capital Management’s holdings in Lowe’s Cos. were worth $3,728,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in LOW. CWM LLC raised 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 during the period. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in Lowe’s Cos. during the second quarter worth about $103,000. Washington Trust Bank raised its stake 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 raised its stake 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. Finally, Cribstone Capital Management LLC acquired a new stake in Lowe’s Cos. during the second quarter worth about $156,000. 75.48% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Lowe’s Cos. (NYSE:LOW) traded down 0.62% during trading on Wednesday, reaching $72.25. The company’s stock had a trading volume of 4,503,670 shares. The firm has a market cap of $63.19 billion, a PE ratio of 23.42 and a beta of 1.13. Lowe’s Cos. has a 12 month low of $62.62 and a 12 month high of $83.65. The stock’s 50 day moving average price is $74.25 and its 200-day moving average price is $77.36.
Lowe’s Cos. (NYSE:LOW) last issued its earnings results on Wednesday, August 17th. The home improvement retailer reported $1.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.41 by $0.04. The firm earned $18.26 billion during the quarter, compared to analyst estimates of $18.42 billion. Lowe’s Cos. had a net margin of 4.58% and a return on equity of 43.38%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.20 earnings per share. Equities analysts predict that Lowe’s Cos. will post $4.02 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 2nd. Stockholders of record on Wednesday, October 19th will be paid a $0.35 dividend. The ex-dividend date is Monday, October 17th. This represents a $1.40 annualized dividend and a dividend yield of 1.94%. Lowe’s Cos.’s dividend payout ratio is presently 45.16%.
LOW has been the subject of a number of research reports. Vetr downgraded Lowe’s Cos. from a “buy” rating to a “hold” rating and set a $85.38 price objective for the company. in a research report on Thursday, July 28th. Jefferies Group reiterated a “hold” rating and issued a $81.00 price objective on shares of Lowe’s Cos. in a research report on Thursday, August 18th. Nomura set a $80.00 price objective on Lowe’s Cos. and gave the stock a “hold” rating in a research report on Thursday, August 18th. Argus reiterated a “buy” rating and issued a $90.00 price objective on shares of Lowe’s Cos. in a research report on Thursday, August 18th. Finally, Peel Hunt reiterated a “buy” rating and issued a $85.00 price objective on shares of Lowe’s Cos. in a research report on Wednesday, July 6th. Seven analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price 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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