Ontario Teachers Pension Plan Board purchased a new stake in Lowe’s Companies, Inc. (NYSE:LOW) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 8,332 shares of the home improvement retailer’s stock, valued at approximately $717,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Islay Capital Management LLC bought a new stake in Lowe’s Companies in the fourth quarter valued at $30,000. Filbrandt Wealth Management LLC bought a new stake in Lowe’s Companies in the fourth quarter valued at $29,000. Lionsbridge Wealth Management LLC bought a new stake in Lowe’s Companies in the fourth quarter valued at $30,000. IndexIQ Advisors LLC bought a new stake in Lowe’s Companies in the fourth quarter valued at $32,000. Finally, Total Clarity Wealth Management Inc. bought a new stake in Lowe’s Companies in the fourth quarter valued at $34,000. 76.15% of the stock is owned by hedge funds and other institutional investors.
LOW has been the subject of several research analyst reports. Cfra lifted their price target on shares of Lowe’s Companies from $125.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday. UBS Group boosted their target price on shares of Lowe’s Companies from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday. Morgan Stanley boosted their target price on shares of Lowe’s Companies from $95.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday. TheStreet raised shares of Lowe’s Companies from a “c+” rating to a “b-” rating in a research report on Monday, May 11th. Finally, Barclays boosted their target price on shares of Lowe’s Companies from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-seven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $132.54.
LOW opened at $122.25 on Friday. The company has a quick ratio of 0.14, a current ratio of 1.20 and a debt-to-equity ratio of 14.05. The stock has a market cap of $91.08 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 1.33 and a beta of 1.38. Lowe’s Companies, Inc. has a twelve month low of $60.00 and a twelve month high of $126.73. The company’s 50-day moving average price is $101.42 and its two-hundred day moving average price is $110.02.
Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, May 20th. The home improvement retailer reported $1.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.32 by $0.45. The firm had revenue of $19.68 billion for the quarter, compared to analysts’ expectations of $18.33 billion. Lowe’s Companies had a net margin of 6.17% and a return on equity of 220.44%. The company’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.22 earnings per share. As a group, sell-side analysts anticipate that Lowe’s Companies, Inc. will post 5.97 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 6th. Shareholders of record on Wednesday, April 22nd were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date was Tuesday, April 21st. Lowe’s Companies’s payout ratio is 38.46%.
In related news, CEO Marvin R. Ellison bought 10,000 shares of the company’s stock in a transaction on Friday, March 6th. The shares were purchased at an average cost of $103.86 per share, for a total transaction of $1,038,600.00. Following the completion of the purchase, the chief executive officer now directly owns 90,090 shares in the company, valued at $9,356,747.40. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 0.07% of the stock is owned by insiders.
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. 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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