Duff & Phelps Investment Management Co. cut its position in shares of Lowe’s Cos. (NYSE:LOW) by 2.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,860 shares of the home improvement retailer’s stock after selling 340 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Lowe’s Cos. were worth $939,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in the stock. 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 last quarter. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new position in Lowe’s Cos. during the second quarter worth approximately $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 last quarter. 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 last quarter. Finally, Cribstone Capital Management LLC acquired a new position in Lowe’s Cos. during the second quarter worth approximately $156,000. 75.45% of the stock is owned by institutional investors.
Lowe’s Cos. (NYSE:LOW) traded down 1.44% during midday trading on Monday, reaching $69.98. The company’s stock had a trading volume of 4,986,791 shares. The stock’s 50 day moving average price is $72.79 and its 200-day moving average price is $77.10. Lowe’s Cos. has a one year low of $62.62 and a one year high of $83.65. The stock has a market cap of $61.21 billion, a price-to-earnings ratio of 22.68 and a beta of 1.14.
Lowe’s Cos. (NYSE:LOW) last announced its quarterly earnings data on Wednesday, August 17th. The home improvement retailer reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $1.41 by $0.04. The company had revenue of $18.26 billion for 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%. Lowe’s Cos.’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the firm earned $1.20 earnings per share. On average, analysts forecast that Lowe’s Cos. will post $4.02 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 2nd. Stockholders of record on Wednesday, October 19th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Monday, October 17th. Lowe’s Cos.’s dividend payout ratio (DPR) is presently 45.16%.
LOW has been the subject of a number of recent analyst reports. Credit Suisse Group AG set a $80.00 price target on Lowe’s Cos. and gave the company a “buy” rating in a research report on Friday, September 23rd. Robert W. Baird set a $88.00 target price on Lowe’s Cos. and gave the stock a “buy” rating in a research report on Monday, September 19th. Morgan Stanley set a $87.00 target price on Lowe’s Cos. and gave the stock a “buy” rating in a research report on Friday, August 19th. BMO Capital Markets increased their target price on Lowe’s Cos. from $76.43 to $86.00 and gave the stock an “outperform” rating in a research report on Monday, August 22nd. Finally, Bank of America Corp. reissued a “buy” rating and issued a $87.65 target price (up previously from $77.30) on shares of Lowe’s Cos. in a research report on Wednesday, August 24th. Eight investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. The stock has an average 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.