Jolley Asset Management LLC grew its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 58.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,917 shares of the home improvement retailer’s stock after purchasing an additional 1,441 shares during the quarter. Jolley Asset Management LLC’s holdings in Lowe’s Companies were worth $431,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in LOW. Nuveen Asset Management LLC grew its position in shares of Lowe’s Companies by 6,680.1% in the second quarter. Nuveen Asset Management LLC now owns 6,312,448 shares of the home improvement retailer’s stock valued at $636,989,000 after purchasing an additional 6,219,346 shares during the period. Viking Global Investors LP acquired a new stake in shares of Lowe’s Companies in the second quarter valued at about $139,358,000. Prudential PLC grew its position in shares of Lowe’s Companies by 456.1% in the second quarter. Prudential PLC now owns 1,222,183 shares of the home improvement retailer’s stock valued at $123,440,000 after purchasing an additional 1,002,390 shares during the period. Eaton Vance Management lifted its stake in shares of Lowe’s Companies by 49.9% in the second quarter. Eaton Vance Management now owns 2,366,912 shares of the home improvement retailer’s stock worth $238,844,000 after buying an additional 788,392 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in shares of Lowe’s Companies by 395.6% in the first quarter. Nordea Investment Management AB now owns 821,674 shares of the home improvement retailer’s stock worth $89,950,000 after buying an additional 655,882 shares in the last quarter. Institutional investors and hedge funds own 76.31% of the company’s stock.
In other Lowe’s Companies news, CAO Matthew V. Hollifield sold 12,136 shares of Lowe’s Companies stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $112.34, for a total transaction of $1,363,358.24. Following the completion of the sale, the chief accounting officer now directly owns 28,017 shares in the company, valued at $3,147,429.78. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jennifer L. Weber sold 12,589 shares of Lowe’s Companies stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $112.62, for a total transaction of $1,417,773.18. Following the sale, the executive vice president now owns 17,440 shares of the company’s stock, valued at $1,964,092.80. The disclosure for this sale can be found here. 0.07% of the stock is owned by insiders.
Several equities analysts have recently weighed in on LOW shares. Wells Fargo & Co set a $125.00 price target on shares of Lowe’s Companies and gave the stock a “buy” rating in a research note on Monday, September 30th. Royal Bank of Canada raised their price target on shares of Lowe’s Companies from $123.00 to $129.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. Credit Suisse Group reissued a “neutral” rating and issued a $114.00 price target (up from $99.00) on shares of Lowe’s Companies in a research note on Thursday, August 22nd. Goldman Sachs Group started coverage on shares of Lowe’s Companies in a research note on Thursday, July 11th. They issued a “buy” rating and a $119.00 price target on the stock. Finally, UBS Group raised their price target on shares of Lowe’s Companies from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Nine equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $120.96.
LOW stock traded down $0.28 during trading on Wednesday, reaching $112.14. 885,021 shares of the stock were exchanged, compared to its average volume of 3,863,647. The company has a current ratio of 1.06, a quick ratio of 0.19 and a debt-to-equity ratio of 7.80. The business has a 50 day moving average price of $110.88 and a 200-day moving average price of $105.88. Lowe’s Companies, Inc. has a 1 year low of $84.75 and a 1 year high of $118.23. The firm has a market capitalization of $86.77 billion, a price-to-earnings ratio of 21.82, a P/E/G ratio of 1.40 and a beta of 1.30.
Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, August 21st. The home improvement retailer reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.15. Lowe’s Companies had a net margin of 3.52% and a return on equity of 111.09%. The company had revenue of $20.99 billion for the quarter, compared to the consensus estimate of $20.96 billion. During the same period in the previous year, the firm earned $2.07 earnings per share. Lowe’s Companies’s quarterly revenue was up .5% compared to the same quarter last year. On average, research analysts anticipate that Lowe’s Companies, Inc. will post 5.67 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Tuesday, October 22nd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 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.
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