Azimuth Capital Investment Management LLC Purchases New Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Azimuth Capital Investment Management LLC purchased a new stake in Lowe’s Companies, Inc. (NYSE:LOWGet Rating) in the 2nd quarter, HoldingsChannel reports. The fund purchased 2,637 shares of the home improvement retailer’s stock, valued at approximately $461,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LOW. Magellan Asset Management Ltd increased its stake in shares of Lowe’s Companies by 12,323.7% during the 1st quarter. Magellan Asset Management Ltd now owns 3,174,865 shares of the home improvement retailer’s stock worth $641,926,000 after purchasing an additional 3,149,310 shares during the last quarter. Renaissance Technologies LLC grew its stake in Lowe’s Companies by 7,952.8% in the 1st quarter. Renaissance Technologies LLC now owns 1,586,400 shares of the home improvement retailer’s stock valued at $320,754,000 after buying an additional 1,566,700 shares during the last quarter. Egerton Capital UK LLP grew its stake in Lowe’s Companies by 56.2% in the 1st quarter. Egerton Capital UK LLP now owns 3,610,961 shares of the home improvement retailer’s stock valued at $730,100,000 after buying an additional 1,299,622 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Lowe’s Companies by 2,072.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,078,468 shares of the home improvement retailer’s stock valued at $218,055,000 after buying an additional 1,028,827 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in Lowe’s Companies by 209.0% in the 1st quarter. First Trust Advisors LP now owns 1,219,542 shares of the home improvement retailer’s stock valued at $246,579,000 after buying an additional 824,915 shares during the last quarter. Hedge funds and other institutional investors own 74.04% of the company’s stock.

Analyst Upgrades and Downgrades

LOW has been the topic of a number of research analyst reports. Oppenheimer reiterated an “outperform” rating and issued a $300.00 target price on shares of Lowe’s Companies in a research note on Thursday, November 17th. BNP Paribas downgraded shares of Lowe’s Companies from a “neutral” rating to an “underperform” rating and set a $159.00 price target for the company. in a report on Wednesday, October 19th. Citigroup cut their price target on shares of Lowe’s Companies from $217.00 to $215.00 in a report on Monday, October 31st. DA Davidson boosted their target price on shares of Lowe’s Companies from $225.00 to $247.00 in a research note on Thursday, August 18th. Finally, Jefferies Financial Group boosted their target price on shares of Lowe’s Companies from $255.00 to $259.00 and gave the stock a “buy” rating in a research note on Monday, October 3rd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $231.35.

Lowe’s Companies Price Performance

NYSE LOW opened at $211.02 on Thursday. The stock has a market capitalization of $130.98 billion, a price-to-earnings ratio of 20.67, a PEG ratio of 1.18 and a beta of 1.15. Lowe’s Companies, Inc. has a one year low of $170.12 and a one year high of $263.31. The business’s fifty day moving average is $194.18 and its 200-day moving average is $192.60.

Lowe’s Companies (NYSE:LOWGet Rating) last released its earnings results on Wednesday, November 16th. The home improvement retailer reported $3.27 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.18. Lowe’s Companies had a negative return on equity of 103.72% and a net margin of 6.97%. The company had revenue of $23.48 billion for the quarter, compared to analysts’ expectations of $23.16 billion. During the same period in the previous year, the business posted $2.73 EPS. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. Research analysts expect that Lowe’s Companies, Inc. will post 13.77 EPS for the current fiscal year.

Lowe’s Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 8th. Investors of record on Wednesday, January 25th will be paid a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Tuesday, January 24th. Lowe’s Companies’s dividend payout ratio is currently 41.14%.

Lowe’s Companies Company Profile

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Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States and internationally. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, lighting, and electrical.

Further Reading

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Institutional Ownership by Quarter for Lowe's Companies (NYSE:LOW)

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