Suntrust Banks Inc. raised its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 4.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 244,715 shares of the home improvement retailer’s stock after acquiring an additional 10,237 shares during the quarter. Suntrust Banks Inc.’s holdings in Lowe’s Companies were worth $18,971,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Lowe’s Companies by 4.3% in the first quarter. Vanguard Group Inc. now owns 63,871,103 shares of the home improvement retailer’s stock worth $5,250,843,000 after acquiring an additional 2,650,045 shares during the last quarter. Blue Edge Capital LLC acquired a new position in shares of Lowe’s Companies in the first quarter valued at approximately $727,000. Sumitomo Mitsui Asset Management Company LTD increased its stake in shares of Lowe’s Companies by 11.8% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 105,471 shares of the home improvement retailer’s stock valued at $8,177,000 after buying an additional 11,119 shares during the period. Summit Global Investments acquired a new position in shares of Lowe’s Companies in the second quarter valued at approximately $1,421,000. Finally, Burney Co. increased its stake in shares of Lowe’s Companies by 3.9% in the second quarter. Burney Co. now owns 145,724 shares of the home improvement retailer’s stock valued at $11,162,000 after buying an additional 5,453 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.
In related news, SVP Matthew V. Hollifield sold 7,853 shares of the stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $78.30, for a total value of $614,889.90. Following the transaction, the senior vice president now directly owns 30,750 shares in the company, valued at approximately $2,407,725. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Paul D. Ramsay sold 2,098 shares of the stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $78.02, for a total value of $163,685.96. Following the completion of the transaction, the insider now owns 8,400 shares in the company, valued at $655,368. The disclosure for this sale can be found here. 0.11% of the stock is owned by company insiders.
Lowe’s Companies, Inc. (NYSE LOW) opened at $77.49 on Friday. Lowe’s Companies, Inc. has a twelve month low of $65.12 and a twelve month high of $86.25. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.03 and a quick ratio of 0.19. The stock has a market capitalization of $64,859.13, a price-to-earnings ratio of 17.85, a P/E/G ratio of 1.26 and a beta of 1.13.
Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, August 23rd. The home improvement retailer reported $1.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.05). Lowe’s Companies had a return on equity of 62.02% and a net margin of 4.51%. The firm had revenue of $19.50 billion during the quarter, compared to the consensus estimate of $19.58 billion. During the same quarter in the prior year, the business earned $1.37 earnings per share. Lowe’s Companies’s revenue for the quarter was up 6.8% on a year-over-year basis. analysts predict that Lowe’s Companies, Inc. will post 4.5 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 7th. Investors of record on Wednesday, January 24th will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.12%. Lowe’s Companies’s dividend payout ratio is currently 46.20%.
Several research firms have recently issued reports on LOW. BidaskClub raised Lowe’s Companies from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 2nd. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $80.00 price objective on shares of Lowe’s Companies in a research note on Friday, September 29th. Robert W. Baird set a $87.00 price objective on Lowe’s Companies and gave the company a “buy” rating in a research note on Thursday, August 24th. Zacks Investment Research raised Lowe’s Companies from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research note on Friday, August 11th. Finally, SunTrust Banks, Inc. reaffirmed a “hold” rating and issued a $80.00 price objective on shares of Lowe’s Companies in a research note on Friday. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $85.62.
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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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