Hilltop Holdings Inc. raised its position in shares of Lowe's Companies, Inc. (NYSE:LOW) by 1.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,542 shares of the home improvement retailer’s stock after buying an additional 54 shares during the period. Hilltop Holdings Inc.’s holdings in Lowe's Companies were worth $324,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Lowe's Companies during the fourth quarter valued at $526,087,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Lowe's Companies during the third quarter valued at $435,695,000. Glenview Capital Management LLC purchased a new stake in shares of Lowe's Companies during the fourth quarter valued at $289,894,000. Institutional Capital LLC purchased a new stake in shares of Lowe's Companies during the fourth quarter valued at $157,700,000. Finally, Old Mutual Global Investors UK Ltd. raised its stake in shares of Lowe's Companies by 888.8% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 1,654,218 shares of the home improvement retailer’s stock valued at $119,451,000 after buying an additional 1,486,916 shares during the last quarter. 74.46% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Lowe's Companies, Inc. (NYSE:LOW) opened at 82.35 on Tuesday. Lowe's Companies, Inc. has a 52-week low of $64.87 and a 52-week high of $84.00. The company has a market cap of $71.32 billion, a P/E ratio of 23.73 and a beta of 1.28. The stock’s 50 day moving average price is $77.19 and its 200-day moving average price is $72.89.
Lowe's Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, March 1st. The home improvement retailer reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.07. The business had revenue of $15.78 billion for the quarter, compared to the consensus estimate of $15.39 billion. Lowe's Companies had a return on equity of 46.46% and a net margin of 3.91%. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.59 earnings per share. Equities analysts expect that Lowe's Companies, Inc. will post $4.63 EPS for the current year.
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Several analysts have recently weighed in on the company. Credit Suisse Group AG set a $72.00 price objective on Lowe's Companies and gave the stock a “buy” rating in a report on Thursday, December 1st. Zacks Investment Research raised Lowe's Companies from a “sell” rating to a “hold” rating in a report on Friday, December 9th. Royal Bank of Canada lifted their price objective on Lowe's Companies from $75.00 to $83.00 and gave the stock an “outperform” rating in a report on Thursday, December 8th. Jefferies Group LLC reissued a “hold” rating and set a $69.00 price objective (down previously from $81.00) on shares of Lowe's Companies in a report on Tuesday, December 6th. Finally, BTIG Research reissued a “buy” rating and set a $80.00 price objective on shares of Lowe's Companies in a report on Sunday, December 4th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $82.52.
In related news, Chairman Robert A. Niblock sold 447,000 shares of the stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $81.07, for a total transaction of $36,238,290.00. Following the sale, the chairman now owns 479,507 shares of the company’s stock, valued at $38,873,632.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Matthew V. Hollifield sold 9,299 shares of the stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $80.99, for a total value of $753,126.01. Following the sale, the senior vice president now directly owns 28,691 shares in the company, valued at approximately $2,323,684.09. The disclosure for this sale can be found here. Insiders have sold 490,505 shares of company stock worth $39,758,270 in the last three months. 0.39% of the stock is currently owned by company insiders.
Lowe's Companies 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.
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