Bridges Investment Counsel Inc. lowered its position in shares of Lowe's Companies, Inc. (NYSE:LOW) by 46.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,003 shares of the home improvement retailer’s stock after selling 13,972 shares during the period. Bridges Investment Counsel Inc.’s holdings in Lowe's Companies were worth $1,316,000 as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in LOW. Farmers & Merchants Investments Inc. increased its position in Lowe's Companies by 1.8% in the third quarter. Farmers & Merchants Investments Inc. now owns 140,938 shares of the home improvement retailer’s stock worth $10,177,000 after buying an additional 2,465 shares in the last quarter. RNC Capital Management LLC increased its position in Lowe's Companies by 625.6% in the third quarter. RNC Capital Management LLC now owns 39,596 shares of the home improvement retailer’s stock worth $2,859,000 after buying an additional 34,139 shares in the last quarter. Trust Co. of Virginia VA increased its position in Lowe's Companies by 1.2% in the third quarter. Trust Co. of Virginia VA now owns 16,532 shares of the home improvement retailer’s stock worth $1,194,000 after buying an additional 200 shares in the last quarter. Smith Chas P & Associates PA Cpas increased its position in Lowe's Companies by 1.0% in the third quarter. Smith Chas P & Associates PA Cpas now owns 10,693 shares of the home improvement retailer’s stock worth $716,000 after buying an additional 110 shares in the last quarter. Finally, Somerset Trust Co increased its position in Lowe's Companies by 3.5% in the third quarter. Somerset Trust Co now owns 26,959 shares of the home improvement retailer’s stock worth $1,947,000 after buying an additional 904 shares in the last quarter. 74.46% of the stock is owned by institutional investors and hedge funds.
Shares of Lowe's Companies, Inc. (NYSE:LOW) traded up 0.06% during midday trading on Friday, reaching $83.34. The company’s stock had a trading volume of 2,905,094 shares. The stock’s 50-day moving average price is $82.00 and its 200-day moving average price is $74.42. Lowe's Companies, Inc. has a 12-month low of $64.87 and a 12-month high of $84.00. The company has a market cap of $71.45 billion, a P/E ratio of 24.02 and a beta of 1.28.
Lowe's Companies (NYSE:LOW) last announced 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. Lowe's Companies had a return on equity of 46.46% and a net margin of 3.91%. The company earned $15.78 billion during the quarter, compared to analyst estimates of $15.39 billion. During the same quarter in the previous year, the firm posted $0.59 EPS. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. On average, analysts expect that Lowe's Companies, Inc. will post $4.63 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 10th. Shareholders of record on Wednesday, April 26th will be given a dividend of $0.35 per share. The ex-dividend date is Monday, April 24th. This represents a $1.40 dividend on an annualized basis and a yield of 1.68%. Lowe's Companies’s dividend payout ratio (DPR) is presently 51.28%.
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A number of research firms have recently commented on LOW. Zacks Investment Research upgraded Lowe's Companies from a “sell” rating to a “hold” rating in a research report on Thursday, January 5th. Wedbush restated a “neutral” rating and issued a $77.00 price target on shares of Lowe's Companies in a research report on Wednesday, February 22nd. Robert W. Baird restated an “outperform” rating and issued a $85.00 price target on shares of Lowe's Companies in a research report on Thursday, February 16th. Credit Suisse Group AG set a $83.00 price target on Lowe's Companies and gave the stock a “buy” rating in a research report on Thursday, March 2nd. Finally, Sanford C. Bernstein assumed coverage on Lowe's Companies in a research report on Monday, February 6th. They issued an “underperform” rating and a $66.00 price target for the company. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $83.07.
In other Lowe's Companies news, SVP Matthew V. Hollifield sold 9,299 shares of the business’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $80.99, for a total transaction of $753,126.01. Following the completion of the transaction, the senior vice president now owns 28,691 shares in the company, valued at approximately $2,323,684.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Ricky D. Damron sold 17,152 shares of the business’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $81.96, for a total value of $1,405,777.92. Following the transaction, the chief operating officer now owns 78,225 shares of the company’s stock, valued at approximately $6,411,321. The disclosure for this sale can be found here. Insiders have sold a total of 520,357 shares of company stock valued at $42,207,226 in the last quarter. 0.39% of the stock is currently owned by insiders.
About Lowe's Companies
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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