Doheny Asset Management CA reduced its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 11.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,836 shares of the home improvement retailer’s stock after selling 500 shares during the quarter. Doheny Asset Management CA’s holdings in Lowe’s Companies were worth $387,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of LOW. Boston Partners increased its holdings in Lowe’s Companies by 20.3% during the 1st quarter. Boston Partners now owns 4,900,149 shares of the home improvement retailer’s stock worth $536,420,000 after purchasing an additional 826,414 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Lowe’s Companies by 7.6% during the fourth quarter. Geode Capital Management LLC now owns 10,336,009 shares of the home improvement retailer’s stock worth $952,946,000 after acquiring an additional 728,740 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Lowe’s Companies by 395.6% in the first quarter. Nordea Investment Management AB now owns 821,674 shares of the home improvement retailer’s stock worth $89,950,000 after buying an additional 655,882 shares in the last quarter. Artisan Partners Limited Partnership raised its position in shares of Lowe’s Companies by 14.9% in the first quarter. Artisan Partners Limited Partnership now owns 3,735,627 shares of the home improvement retailer’s stock worth $408,939,000 after buying an additional 483,822 shares in the last quarter. Finally, First Trust Advisors LP raised its position in shares of Lowe’s Companies by 404.0% in the second quarter. First Trust Advisors LP now owns 456,061 shares of the home improvement retailer’s stock worth $46,021,000 after buying an additional 365,571 shares in the last quarter. 76.92% of the stock is currently owned by institutional investors and hedge funds.
In other Lowe’s Companies news, EVP Donald Frieson acquired 2,030 shares of the business’s stock in a transaction dated Wednesday, June 19th. The stock was purchased at an average price of $98.69 per share, with a total value of $200,340.70. Following the transaction, the executive vice president now directly owns 10,980 shares in the company, valued at approximately $1,083,616.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.07% of the company’s stock.
Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, August 21st. The home improvement retailer reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15. Lowe’s Companies had a net margin of 3.52% and a return on equity of 111.09%. The firm had revenue of $20.99 billion during the quarter, compared to the consensus estimate of $20.96 billion. During the same quarter in the previous year, the firm posted $2.07 EPS. The company’s revenue for the quarter was up .5% compared to the same quarter last year. Equities research analysts expect that Lowe’s Companies, Inc. will post 5.65 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Tuesday, October 22nd. Lowe’s Companies’s payout ratio is 42.80%.
A number of research analysts recently commented on LOW shares. Wedbush reissued a “neutral” rating and issued a $115.00 target price (up previously from $105.00) on shares of Lowe’s Companies in a research note on Thursday, August 22nd. Loop Capital raised their target price on Lowe’s Companies to $105.00 and gave the stock a “hold” rating in a research note on Thursday, August 22nd. Telsey Advisory Group raised their price objective on shares of Lowe’s Companies from $116.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Credit Suisse Group restated a “neutral” rating and issued a $114.00 price objective (up from $99.00) on shares of Lowe’s Companies in a report on Thursday, August 22nd. Finally, Morgan Stanley lifted their target price on shares of Lowe’s Companies from $123.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Nine investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $116.82.
Lowe’s Companies Profile
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.
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