Cullinan Associates Inc. increased its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 111,721 shares of the home improvement retailer’s stock after purchasing an additional 1,430 shares during the period. Lowe’s Companies makes up approximately 0.9% of Cullinan Associates Inc.’s holdings, making the stock its 24th largest position. Cullinan Associates Inc.’s holdings in Lowe’s Companies were worth $10,319,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Almanack Investment Partners LLC. acquired a new position in shares of Lowe’s Companies during the 2nd quarter worth about $103,000. Columbia Asset Management acquired a new position in shares of Lowe’s Companies during the 3rd quarter worth about $109,000. Capital Advisors Ltd. LLC acquired a new position in Lowe’s Companies in the 3rd quarter valued at approximately $116,000. Stelac Advisory Services LLC acquired a new position in Lowe’s Companies in the 3rd quarter valued at approximately $123,000. Finally, Rational Advisors LLC raised its holdings in Lowe’s Companies by 1,005.9% in the 3rd quarter. Rational Advisors LLC now owns 1,117 shares of the home improvement retailer’s stock valued at $128,000 after acquiring an additional 1,016 shares in the last quarter. 74.33% of the stock is owned by institutional investors and hedge funds.
Several research firms have commented on LOW. Loop Capital set a $125.00 price target on Lowe’s Companies and gave the company a “buy” rating in a report on Wednesday, December 12th. Gordon Haskett cut Lowe’s Companies from an “accumulate” rating to a “hold” rating in a report on Thursday, November 8th. Telsey Advisory Group upped their price target on Lowe’s Companies from $123.00 to $126.00 and gave the company an “outperform” rating in a report on Friday, September 28th. Wedbush set a $95.00 price target on Lowe’s Companies and gave the company a “hold” rating in a report on Wednesday, November 21st. Finally, KeyCorp cut their price target on Lowe’s Companies from $125.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, November 21st. Nine investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $111.65.
In other Lowe’s Companies news, Director Brian C. Rogers purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 23rd. The shares were acquired at an average cost of $88.02 per share, for a total transaction of $880,200.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at $880,200. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.30% of the stock is owned by corporate insiders.
Shares of LOW stock traded up $1.30 during trading hours on Friday, hitting $97.28. The company had a trading volume of 287,720 shares, compared to its average volume of 4,656,145. Lowe’s Companies, Inc. has a 12 month low of $81.16 and a 12 month high of $117.70. The firm has a market cap of $77.91 billion, a P/E ratio of 22.18, a P/E/G ratio of 1.35 and a beta of 1.35. The company has a current ratio of 1.00, a quick ratio of 0.18 and a debt-to-equity ratio of 2.68.
Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, November 20th. The home improvement retailer reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.06. Lowe’s Companies had a return on equity of 72.47% and a net margin of 5.19%. The company had revenue of $17.42 billion for the quarter, compared to analyst estimates of $17.36 billion. During the same period in the prior year, the company posted $1.05 EPS. The company’s revenue was up 3.8% compared to the same quarter last year. Sell-side analysts forecast that Lowe’s Companies, Inc. will post 5.11 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 6th. Investors of record on Wednesday, January 23rd will be given a dividend of $0.48 per share. The ex-dividend date is Tuesday, January 22nd. This represents a $1.92 dividend on an annualized basis and a yield of 1.97%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 43.74%.
About Lowe’s Companies
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. It offers a line of products for maintenance, repair, remodeling, and decorating. The company provides home improvement products in various categories, such as lumber and building materials, tools and hardware, appliances, fashion fixtures, rough plumbing and electrical, seasonal and outdoor living, lawn and garden, paint, millwork, flooring, and kitchens, as well as outdoor power equipment.
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