Foster & Motley Inc. cut its stake in shares of Lowe's Companies, Inc. (NYSE:LOW) by 2.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 55,821 shares of the home improvement retailer’s stock after selling 1,191 shares during the period. Foster & Motley Inc.’s holdings in Lowe's Companies were worth $4,589,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of LOW. Glenview Capital Management LLC acquired a new position in Lowe's Companies during the fourth quarter worth $289,894,000. Morgan Stanley boosted its position in Lowe's Companies by 1.5% in the third quarter. Morgan Stanley now owns 4,171,288 shares of the home improvement retailer’s stock worth $301,209,000 after buying an additional 61,903 shares during the last quarter. Schwartz Investment Counsel Inc. boosted its position in Lowe's Companies by 5.6% in the third quarter. Schwartz Investment Counsel Inc. now owns 516,500 shares of the home improvement retailer’s stock worth $37,296,000 after buying an additional 27,300 shares during the last quarter. Spinnaker Trust boosted its position in Lowe's Companies by 0.5% in the third quarter. Spinnaker Trust now owns 34,235 shares of the home improvement retailer’s stock worth $2,594,000 after buying an additional 184 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in Lowe's Companies by 7.7% in the third quarter. Principal Financial Group Inc. now owns 1,480,075 shares of the home improvement retailer’s stock worth $106,876,000 after buying an additional 105,939 shares during the last quarter. 74.46% of the stock is owned by institutional investors and hedge funds.
Lowe's Companies, Inc. (NYSE:LOW) opened at 84.59 on Friday. The firm’s 50-day moving average price is $83.81 and its 200-day moving average price is $76.67. Lowe's Companies, Inc. has a 1-year low of $64.87 and a 1-year high of $86.25. The firm has a market capitalization of $72.52 billion, a PE ratio of 24.38 and a beta of 1.28.
Lowe's Companies (NYSE:LOW) last announced its quarterly earnings data on Wednesday, March 1st. The home improvement retailer reported $0.86 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.07. Lowe's Companies had a net margin of 3.91% and a return on equity of 46.46%. The company had revenue of $15.78 billion during the quarter, compared to analysts’ expectations of $15.39 billion. During the same period in the previous year, the company earned $0.59 EPS. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. On average, equities research analysts predict that Lowe's Companies, Inc. will post $4.64 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 10th. Stockholders of record on Wednesday, April 26th were paid a dividend of $0.35 per share. The ex-dividend date was Monday, April 24th. This represents a $1.40 annualized dividend and a dividend yield of 1.67%. Lowe's Companies’s dividend payout ratio is presently 51.28%.
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A number of research firms recently weighed in on LOW. BMO Capital Markets reaffirmed a “buy” rating and issued a $89.00 price target on shares of Lowe's Companies in a report on Friday, May 5th. Vetr lowered Lowe's Companies from a “hold” rating to a “sell” rating and set a $83.11 price objective for the company. in a research note on Monday, May 8th. Zacks Investment Research lowered Lowe's Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, May 3rd. Credit Suisse Group AG set a $94.00 price objective on Lowe's Companies and gave the stock a “buy” rating in a research note on Tuesday, May 2nd. Finally, Jefferies Group LLC boosted their price objective on Lowe's Companies from $80.00 to $94.00 and gave the stock a “hold” rating in a research note on Friday, May 12th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $85.14.
In other news, insider Nelson B. Peace sold 3,568 shares of the business’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $81.30, for a total transaction of $290,078.40. Following the completion of the sale, the insider now directly owns 5,860 shares of the company’s stock, valued at approximately $476,418. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Marshall A. Croom sold 12,700 shares of the business’s stock in a transaction on Thursday, March 30th. The shares were sold at an average price of $82.14, for a total transaction of $1,043,178.00. Following the sale, the chief financial officer now directly owns 53,479 shares of the company’s stock, valued at $4,392,765.06. 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 over the last three months. Corporate insiders own 0.39% of the company’s stock.
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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