Somerset Trust Co lifted its stake in Lowe's Companies, Inc. (NYSE:LOW) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,138 shares of the home improvement retailer’s stock after acquiring an additional 719 shares during the quarter. Lowe's Companies makes up 1.4% of Somerset Trust Co’s portfolio, making the stock its 15th biggest holding. Somerset Trust Co’s holdings in Lowe's Companies were worth $2,801,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of LOW. Atlantic Trust LLC bought a new stake in Lowe's Companies in the second quarter worth $105,000. Stonehearth Capital Management LLC bought a new stake in Lowe's Companies in the fourth quarter worth $112,000. Motco boosted its holdings in Lowe's Companies by 33.4% in the second quarter. Motco now owns 1,725 shares of the home improvement retailer’s stock worth $134,000 after purchasing an additional 432 shares in the last quarter. Horan Capital Advisors LLC. bought a new stake in Lowe's Companies in the third quarter worth $134,000. Finally, Bank of Nova Scotia Trust Co. bought a new stake in Lowe's Companies in the third quarter worth $148,000. 73.13% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on LOW shares. BMO Capital Markets reiterated a “hold” rating and issued a $82.00 price objective on shares of Lowe's Companies in a report on Thursday, November 2nd. Raymond James Financial upgraded shares of Lowe's Companies from a “market perform” rating to an “outperform” rating and set a $87.00 price objective for the company in a report on Monday, November 27th. UBS Group upgraded shares of Lowe's Companies from a “market perform” rating to an “outperform” rating in a report on Monday, November 27th. Zacks Investment Research upgraded shares of Lowe's Companies from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. Finally, Robert W. Baird restated a “buy” rating and set a $92.00 price target (up from $87.00) on shares of Lowe's Companies in a report on Wednesday, November 22nd. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $90.28.
Lowe's Companies (NYSE:LOW) last announced its quarterly earnings data on Tuesday, November 21st. The home improvement retailer reported $1.05 EPS for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.03. The business had revenue of $16.77 billion during the quarter, compared to analyst estimates of $16.59 billion. Lowe's Companies had a net margin of 5.16% and a return on equity of 66.27%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.88 earnings per share. sell-side analysts forecast that Lowe's Companies, Inc. will post 4.52 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 7th. Stockholders of record on Wednesday, January 24th will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Tuesday, January 23rd. Lowe's Companies’s dividend payout ratio is currently 39.33%.
In other news, insider Nelson B. Peace sold 3,352 shares of the company’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $80.20, for a total transaction of $268,830.40. Following the completion of the transaction, the insider now owns 4,650 shares of the company’s stock, valued at $372,930. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is currently owned by corporate insiders.
Lowe's Companies Company Profile
Lowe’s Companies, Inc (Lowe’s) is a home improvement company. The Company operates approximately 2,370 home improvement and hardware stores. The Company offers a range of products for maintenance, repair, remodeling and decorating. The Company offers home improvement products in categories, including Lumber and Building Materials; Tools and Hardware; Appliances; Fashion Fixtures; Rough Plumbing and Electrical; Lawn and Garden; Seasonal and Outdoor Living; Paint; Flooring; Millwork, and Kitchens.
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