State Board of Administration of Florida Retirement System trimmed its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,257,944 shares of the home improvement retailer’s stock after selling 25,120 shares during the period. State Board of Administration of Florida Retirement System owned 0.15% of Lowe’s Companies worth $100,560,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of LOW. Vanguard Group Inc. increased 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 valued at $5,250,843,000 after purchasing an additional 2,650,045 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its holdings 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 purchasing an additional 11,119 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 $727,000. Summit Global Investments acquired a new position in shares of Lowe’s Companies in the second quarter valued at $1,421,000. Finally, Ffcm LLC increased its holdings in shares of Lowe’s Companies by 6.4% in the second quarter. Ffcm LLC now owns 30,895 shares of the home improvement retailer’s stock valued at $2,395,000 after purchasing an additional 1,853 shares during the last quarter. Institutional investors and hedge funds own 73.40% of the company’s stock.
LOW has been the topic of several research reports. Zacks Investment Research upgraded shares of Lowe’s Companies from a “sell” rating to a “hold” rating in a report on Monday, September 11th. J P Morgan Chase & Co reissued a “neutral” rating and issued a $83.00 target price (down previously from $89.00) on shares of Lowe’s Companies in a research report on Thursday, August 24th. BMO Capital Markets reissued a “hold” rating and issued a $82.00 target price on shares of Lowe’s Companies in a research report on Thursday, November 2nd. Raymond James Financial raised shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and set a $87.00 target price for the company in a research report on Monday, November 27th. Finally, Morgan Stanley reduced their target price on shares of Lowe’s Companies from $88.00 to $81.00 and set an “overweight” rating for the company in a research report on Thursday, August 24th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and seventeen have issued a buy rating to the company’s stock. Lowe’s Companies currently has a consensus rating of “Hold” and an average target price of $87.66.
Lowe’s Companies, Inc. (LOW) traded up $0.61 during trading on Thursday, hitting $85.60. The stock had a trading volume of 5,956,700 shares, compared to its average volume of 5,985,379. Lowe’s Companies, Inc. has a one year low of $70.49 and a one year high of $88.55. The company has a debt-to-equity ratio of 2.71, a current ratio of 1.02 and a quick ratio of 0.12. The firm has a market capitalization of $70,521.35, a P/E ratio of 18.84, a P/E/G ratio of 1.28 and a beta of 1.15.
Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, November 21st. The home improvement retailer reported $1.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.03. Lowe’s Companies had a return on equity of 66.27% and a net margin of 5.16%. The company had revenue of $16.77 billion during the quarter, compared to the consensus estimate of $16.59 billion. During the same quarter in the prior year, the firm posted $0.88 earnings per share. The firm’s revenue was up 6.6% compared to the same quarter last year. equities research analysts predict that Lowe’s Companies, Inc. will post 4.51 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 7th. Stockholders of record on Wednesday, January 24th will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Tuesday, January 23rd. Lowe’s Companies’s dividend payout ratio is currently 39.33%.
In other Lowe’s Companies news, insider Nelson B. Peace sold 3,352 shares of the stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $80.20, for a total transaction of $268,830.40. Following the completion of the sale, the insider now owns 4,650 shares of the company’s stock, valued at approximately $372,930. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Matthew V. Hollifield sold 7,853 shares of the stock in a transaction that occurred on Friday, September 22nd. The shares were 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 of the company’s stock, valued at approximately $2,407,725. The disclosure for this sale can be found here. Insiders sold 13,303 shares of company stock valued at $1,047,406 in the last ninety days. 0.11% of the stock is currently owned by insiders.
Lowe’s Companies 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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