Huntington National Bank decreased its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 6.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 226,462 shares of the home improvement retailer’s stock after selling 16,406 shares during the quarter. Huntington National Bank’s holdings in Lowe’s Companies were worth $18,103,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Lowe’s Companies by 1,757.3% during the 1st quarter. BlackRock Inc. now owns 61,377,883 shares of the home improvement retailer’s stock worth $5,045,875,000 after buying an additional 58,073,138 shares during the last quarter. FMR LLC raised its position in Lowe’s Companies by 62.6% during the 2nd quarter. FMR LLC now owns 9,694,439 shares of the home improvement retailer’s stock worth $751,610,000 after buying an additional 3,732,153 shares during the last quarter. Janus Henderson Group PLC raised its position in Lowe’s Companies by 1,457.8% during the 2nd quarter. Janus Henderson Group PLC now owns 3,787,825 shares of the home improvement retailer’s stock worth $293,669,000 after buying an additional 3,544,665 shares during the last quarter. Vanguard Group Inc. raised its position in Lowe’s Companies by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 63,871,103 shares of the home improvement retailer’s stock worth $5,250,843,000 after buying an additional 2,650,045 shares during the last quarter. Finally, Parametric Portfolio Associates LLC raised its position in Lowe’s Companies by 94.1% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 3,482,003 shares of the home improvement retailer’s stock worth $269,960,000 after buying an additional 1,688,392 shares during the last quarter. Hedge funds and other institutional investors own 73.29% of the company’s stock.
A number of brokerages have commented on LOW. Longbow Research restated a “buy” rating and set a $95.00 price objective on shares of Lowe’s Companies in a research report on Monday, August 14th. Jefferies Group restated a “hold” rating and set a $75.00 price objective on shares of Lowe’s Companies in a research report on Thursday, September 28th. Zacks Investment Research upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research report on Friday, August 11th. Piper Jaffray Companies restated a “hold” rating and set a $80.00 price objective on shares of Lowe’s Companies in a research report on Friday, September 29th. Finally, Atlantic Securities downgraded shares of Lowe’s Companies from an “overweight” rating to a “neutral” rating and set a $92.00 price target for the company. in a report on Tuesday, November 28th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and sixteen have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $87.40.
In other Lowe’s Companies news, insider Paul D. Ramsay sold 2,098 shares of the firm’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $78.02, for a total transaction of $163,685.96. Following the sale, the insider now directly owns 8,400 shares of the company’s stock, valued at approximately $655,368. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Matthew V. Hollifield sold 7,853 shares of the firm’s stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $78.30, for a total transaction of $614,889.90. Following the sale, the senior vice president now directly owns 30,750 shares in the company, valued at $2,407,725. The disclosure for this sale can be found here. Insiders have sold a total of 13,303 shares of company stock worth $1,047,406 over the last ninety days. 0.11% of the stock is owned by corporate insiders.
Shares of Lowe’s Companies, Inc. (LOW) traded down $3.91 during midday trading on Thursday, reaching $82.40. 12,291,000 shares of the company were exchanged, compared to its average volume of 5,951,254. The firm has a market cap of $71,616.63, a PE ratio of 19.14, a price-to-earnings-growth ratio of 1.38 and a beta of 1.15. Lowe’s Companies, Inc. has a 12-month low of $70.49 and a 12-month high of $88.55. The company has a debt-to-equity ratio of 2.71, a quick ratio of 0.12 and a current ratio of 1.02.
Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Tuesday, November 21st. The home improvement retailer reported $1.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.03. Lowe’s Companies had a net margin of 5.16% and a return on equity of 66.27%. The company had revenue of $16.77 billion for the quarter, compared to analysts’ expectations of $16.59 billion. During the same period last year, the company earned $0.88 EPS. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. analysts predict that Lowe’s Companies, Inc. will post 4.51 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 7th. Shareholders of record on Wednesday, January 24th will be paid a dividend of $0.41 per share. The ex-dividend date is Tuesday, January 23rd. This represents a $1.64 annualized dividend and a dividend yield of 1.99%. Lowe’s Companies’s dividend payout ratio is currently 39.33%.
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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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