Richard C. Young & CO. LTD. increased its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 77.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 84,611 shares of the home improvement retailer’s stock after purchasing an additional 36,923 shares during the period. Richard C. Young & CO. LTD.’s holdings in Lowe’s Companies were worth $6,560,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vantage Financial Partners Ltd. Inc. acquired a new stake in shares of Lowe’s Companies during the 2nd quarter worth about $233,000. SRS Capital Advisors Inc. boosted its position in shares of Lowe’s Companies by 0.4% in the first quarter. SRS Capital Advisors Inc. now owns 1,236 shares of the home improvement retailer’s stock worth $101,000 after acquiring an additional 5 shares during the last quarter. Harbour Capital Advisors LLC acquired a new stake in shares of Lowe’s Companies in the first quarter worth approximately $103,000. Hanson McClain Inc. boosted its position in shares of Lowe’s Companies by 3.5% in the first quarter. Hanson McClain Inc. now owns 1,337 shares of the home improvement retailer’s stock worth $110,000 after acquiring an additional 45 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its position in shares of Lowe’s Companies by 8.3% in the second quarter. State of Alaska Department of Revenue now owns 1,440 shares of the home improvement retailer’s stock worth $111,000 after acquiring an additional 110 shares during the last quarter. Institutional investors and hedge funds own 74.38% of the company’s stock.
In related news, insider Paul D. Ramsay sold 2,098 shares of Lowe’s Companies stock in a transaction that occurred 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 sale, the insider now owns 8,400 shares of the company’s stock, valued at approximately $655,368. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Matthew V. Hollifield sold 7,853 shares of Lowe’s Companies stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $78.30, for a total value of $614,889.90. Following the completion of the sale, the senior vice president now directly owns 30,750 shares in the company, valued at approximately $2,407,725. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.
A number of research firms have recently issued reports on LOW. Deutsche Bank AG reiterated a “buy” rating and set a $90.00 price objective (up previously from $85.00) on shares of Lowe’s Companies in a research note on Friday, October 6th. Gordon Haskett assumed coverage on shares of Lowe’s Companies in a research note on Tuesday, October 3rd. They issued an “accumulate” rating and a $88.00 price target for the company. Zacks Investment Research raised shares of Lowe’s Companies from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. Robert W. Baird set a $87.00 price objective on shares of Lowe’s Companies and gave the stock a “buy” rating in a report on Tuesday, October 31st. Finally, BMO Capital Markets reissued a “hold” rating and set a $82.00 price target on shares of Lowe’s Companies in a report on Thursday, November 2nd. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $85.62.
Shares of Lowe’s Companies, Inc. (NYSE LOW) opened at $77.63 on Tuesday. The company has a market capitalization of $64,280.00, a price-to-earnings ratio of 17.85, a PEG ratio of 1.26 and a beta of 1.13. Lowe’s Companies, Inc. has a 1-year low of $65.12 and a 1-year high of $86.25. The company has a debt-to-equity ratio of 2.85, a quick ratio of 0.19 and a current ratio of 1.03.
Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, August 23rd. The home improvement retailer reported $1.57 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.05). The company had revenue of $19.50 billion during the quarter, compared to analyst estimates of $19.58 billion. Lowe’s Companies had a net margin of 4.51% and a return on equity of 62.02%. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.37 EPS. research analysts expect that Lowe’s Companies, Inc. will post 4.5 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 7th. Stockholders of record on Wednesday, January 24th will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Tuesday, January 23rd. Lowe’s Companies’s dividend payout ratio is currently 46.20%.
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About Lowe’s Companies
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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