Burke & Herbert Bank & Trust Co. held its position in Lowe’s Cos. (NYSE:LOW) during the second quarter, Holdings Channel reports. The fund owned 7,429 shares of the home improvement retailer’s stock at the end of the second quarter. Burke & Herbert Bank & Trust Co.’s holdings in Lowe’s Cos. were worth $588,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of LOW. CWM LLC raised its position 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 position in Lowe’s Cos. during the second quarter worth $103,000. Washington Trust Bank raised 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 raised 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. Finally, Cribstone Capital Management LLC acquired a new position in Lowe’s Cos. during the second quarter worth $156,000. 75.48% of the stock is owned by hedge funds and other institutional investors.
Shares of Lowe’s Cos. (NYSE:LOW) traded down 0.62% during midday trading on Wednesday, reaching $72.25. The company had a trading volume of 4,503,670 shares. The company’s 50 day moving average price is $73.99 and its 200 day moving average price is $77.32. The stock has a market capitalization of $63.19 billion, a PE ratio of 23.42 and a beta of 1.13. Lowe’s Cos. has a 52-week low of $62.62 and a 52-week high of $83.65.
Lowe’s Cos. (NYSE:LOW) last posted its quarterly earnings results on Wednesday, August 17th. The home improvement retailer reported $1.37 EPS for the quarter, missing the consensus estimate of $1.41 by $0.04. The business 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 firm’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.20 earnings per share. Equities research analysts expect that Lowe’s Cos. will post $4.02 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 2nd. Stockholders of record on Wednesday, October 19th will be issued a $0.35 dividend. The ex-dividend date of this dividend 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 currently 45.16%.
A number of research analysts recently weighed in on the stock. Vetr lowered shares of Lowe’s Cos. from a “strong-buy” rating to a “buy” rating and set a $86.38 target price for the company. in a report on Monday, June 20th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $89.00 target price on shares of Lowe’s Cos. in a report on Tuesday, August 16th. BMO Capital Markets raised their target price on shares of Lowe’s Cos. from $76.43 to $86.00 and gave the company an “outperform” rating in a report on Monday, August 22nd. Zacks Investment Research lowered shares of Lowe’s Cos. from a “buy” rating to a “hold” rating in a report on Friday, August 19th. Finally, Morgan Stanley set a $87.00 price target on Lowe’s Cos. and gave the stock a “buy” rating in a research report on Friday, August 19th. Seven analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $85.93.
Lowe’s Cos. Company Profile
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.
Want to see what other hedge funds are holding LOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lowe’s Cos. (NYSE:LOW).
Receive News & Ratings for Lowe's Cos. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lowe's Cos. and related companies with MarketBeat.com's FREE daily email newsletter.