Providence Capital Advisors LLC boosted its position in Lowe’s Companies, Inc. (NYSE:LOW) by 11.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,210 shares of the home improvement retailer’s stock after buying an additional 2,700 shares during the period. Lowe’s Companies makes up 1.6% of Providence Capital Advisors LLC’s holdings, making the stock its 19th biggest holding. Providence Capital Advisors LLC’s holdings in Lowe’s Companies were worth $2,645,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of LOW. Tdam USA Inc. increased its stake in shares of Lowe’s Companies by 9.5% in the 1st quarter. Tdam USA Inc. now owns 8,719 shares of the home improvement retailer’s stock valued at $954,000 after acquiring an additional 760 shares in the last quarter. Cadence Bank NA lifted its holdings in shares of Lowe’s Companies by 0.5% in the 1st quarter. Cadence Bank NA now owns 23,458 shares of the home improvement retailer’s stock worth $2,568,000 after purchasing an additional 112 shares in the last quarter. JNBA Financial Advisors bought a new position in shares of Lowe’s Companies in the 2nd quarter worth $40,000. Carnick & Kubik Group LLC grew its position in Lowe’s Companies by 1.5% in the 2nd quarter. Carnick & Kubik Group LLC now owns 20,915 shares of the home improvement retailer’s stock valued at $2,111,000 after purchasing an additional 310 shares during the period. Finally, Moseley Investment Management Inc. acquired a new stake in Lowe’s Companies in the 1st quarter valued at $360,000. 76.92% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have weighed in on LOW shares. Loop Capital upped their price objective on shares of Lowe’s Companies to $105.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. Wells Fargo & Co reissued an “outperform” rating and set a $125.00 target price (up from $110.00) on shares of Lowe’s Companies in a research report on Thursday, August 22nd. Wedbush reissued a “neutral” rating and set a $115.00 target price (up from $105.00) on shares of Lowe’s Companies in a research report on Thursday, August 22nd. Cfra restated a “hold” rating and issued a $105.00 target price on shares of Lowe’s Companies in a report on Friday, June 14th. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $125.00 price target (up previously from $120.00) on shares of Lowe’s Companies in a research report on Thursday, August 22nd. Nine analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $116.36.
In other Lowe’s Companies news, EVP Donald Frieson acquired 2,030 shares of Lowe’s Companies stock in a transaction on Wednesday, June 19th. The stock was purchased at an average price of $98.69 per share, for a total transaction of $200,340.70. Following the purchase, the executive vice president now directly owns 10,980 shares of the company’s stock, valued at $1,083,616.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.07% of the stock is currently owned by insiders.
Shares of LOW traded down $1.77 during trading hours on Wednesday, reaching $113.51. 3,636,646 shares of the stock traded hands, compared to its average volume of 5,560,189. Lowe’s Companies, Inc. has a 52 week low of $84.75 and a 52 week high of $118.23. The company has a market cap of $88.59 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 1.49 and a beta of 1.30. The stock has a fifty day simple moving average of $104.06 and a 200 day simple moving average of $104.70. The company has a current ratio of 1.06, a quick ratio of 0.19 and a debt-to-equity ratio of 7.80.
Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, August 21st. The home improvement retailer reported $2.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.00 by $0.15. The business had revenue of $20.99 billion during the quarter, compared to the consensus estimate of $20.96 billion. Lowe’s Companies had a net margin of 3.52% and a return on equity of 111.09%. The firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.07 EPS. Analysts predict that Lowe’s Companies, Inc. will post 5.65 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be given a $0.55 dividend. The ex-dividend date is Tuesday, October 22nd. This represents a $2.20 annualized dividend and a yield of 1.94%. Lowe’s Companies’s dividend payout ratio is currently 42.80%.
Lowe’s Companies Profile
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.
Featured Story: Trading based on a resistance level
Want to see what other hedge funds are holding LOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lowe’s Companies, Inc. (NYSE:LOW).
Receive News & Ratings for Lowe's Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lowe's Companies and related companies with MarketBeat.com's FREE daily email newsletter.