Tocqueville Asset Management L.P. lessened its position in Lowe's Companies, Inc. (NYSE:LOW) by 8.2% in the fourth quarter, HoldingsChannel reports. The firm owned 166,351 shares of the home improvement retailer’s stock after selling 14,928 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Lowe's Companies were worth $15,461,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Almanack Investment Partners LLC. acquired a new position in Lowe's Companies in the 4th quarter worth about $106,000. Stonehearth Capital Management LLC acquired a new position in Lowe's Companies in the 4th quarter worth about $112,000. Atlantic Trust LLC acquired a new position in Lowe's Companies in the 2nd quarter worth about $105,000. IHT Wealth Management LLC increased its holdings in Lowe's Companies by 8.7% in the 2nd quarter. IHT Wealth Management LLC now owns 1,368 shares of the home improvement retailer’s stock worth $154,000 after purchasing an additional 110 shares in the last quarter. Finally, Truewealth LLC acquired a new position in Lowe's Companies in the 4th quarter worth about $128,000. 73.14% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on the company. Stifel Nicolaus reaffirmed a “buy” rating and issued a $103.00 target price on shares of Lowe's Companies in a report on Friday, December 22nd. Barclays raised Lowe's Companies from an “equal weight” rating to an “overweight” rating in a research note on Friday, January 5th. Sanford C. Bernstein raised Lowe's Companies from an “underperform” rating to an “outperform” rating in a research note on Monday, January 22nd. Piper Jaffray Companies reissued a “hold” rating and issued a $82.00 price target on shares of Lowe's Companies in a research note on Friday, November 24th. Finally, Robert W. Baird reissued a “buy” rating and issued a $110.00 price target on shares of Lowe's Companies in a research note on Wednesday, January 3rd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $97.93.
Lowe's Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, February 28th. The home improvement retailer reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.13). The firm had revenue of $15.49 billion during the quarter, compared to the consensus estimate of $15.34 billion. Lowe's Companies had a return on equity of 65.17% and a net margin of 5.02%. The firm’s revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.86 EPS. analysts forecast that Lowe's Companies, Inc. will post 5.47 EPS for the current fiscal year.
Lowe's Companies declared that its Board of Directors has initiated a stock repurchase program on Friday, January 26th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the home improvement retailer to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
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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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