MainStreet Investment Advisors LLC cut its position in Lowe’s Companies, Inc. (NYSE:LOW) by 4.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,615 shares of the home improvement retailer’s stock after selling 3,276 shares during the quarter. Lowe’s Companies comprises about 1.1% of MainStreet Investment Advisors LLC’s holdings, making the stock its 24th largest position. MainStreet Investment Advisors LLC’s holdings in Lowe’s Companies were worth $8,108,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of LOW. Woodstock Corp raised its position in Lowe’s Companies by 37.3% during the 3rd quarter. Woodstock Corp now owns 8,975 shares of the home improvement retailer’s stock valued at $1,031,000 after purchasing an additional 2,440 shares during the last quarter. BTC Capital Management Inc. raised its position in shares of Lowe’s Companies by 8.5% in the 2nd quarter. BTC Capital Management Inc. now owns 44,138 shares of the home improvement retailer’s stock worth $4,219,000 after acquiring an additional 3,470 shares in the last quarter. Bremer Trust National Association bought a new position in shares of Lowe’s Companies in the 2nd quarter worth approximately $228,000. Verition Fund Management LLC raised its position in shares of Lowe’s Companies by 463.6% in the 2nd quarter. Verition Fund Management LLC now owns 52,429 shares of the home improvement retailer’s stock worth $5,011,000 after acquiring an additional 43,126 shares in the last quarter. Finally, Captrust Financial Advisors raised its position in shares of Lowe’s Companies by 20.3% in the 2nd quarter. Captrust Financial Advisors now owns 73,972 shares of the home improvement retailer’s stock worth $7,070,000 after acquiring an additional 12,499 shares in the last quarter. Hedge funds and other institutional investors own 74.59% of the company’s stock.
In other Lowe’s Companies news, Director Lisa W. Wardell purchased 273 shares of the firm’s stock in a transaction on Friday, August 24th. The shares were acquired at an average cost of $107.72 per share, with a total value of $29,407.56. Following the completion of the acquisition, the director now directly owns 273 shares in the company, valued at $29,407.56. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Marshall A. Croom sold 15,735 shares of the firm’s stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $114.61, for a total value of $1,803,388.35. Following the sale, the chief financial officer now directly owns 63,099 shares in the company, valued at $7,231,776.39. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.
Shares of Lowe’s Companies stock opened at $97.51 on Wednesday. Lowe’s Companies, Inc. has a one year low of $77.14 and a one year high of $117.70. The firm has a market capitalization of $78.26 billion, a P/E ratio of 22.21, a P/E/G ratio of 1.30 and a beta of 1.52. The company has a current ratio of 1.06, a quick ratio of 0.25 and a debt-to-equity ratio of 2.58.
Lowe’s Companies (NYSE:LOW) last announced its earnings results on Wednesday, August 22nd. The home improvement retailer reported $2.07 EPS for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.05. Lowe’s Companies had a return on equity of 71.96% and a net margin of 5.58%. The company had revenue of $20.89 billion for the quarter, compared to analysts’ expectations of $20.79 billion. During the same period last year, the firm earned $1.57 EPS. Lowe’s Companies’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, analysts forecast that Lowe’s Companies, Inc. will post 5.19 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 7th. Investors of record on Wednesday, October 24th will be issued a $0.48 dividend. The ex-dividend date is Tuesday, October 23rd. This represents a $1.92 dividend on an annualized basis and a yield of 1.97%. Lowe’s Companies’s dividend payout ratio is currently 43.74%.
Several research analysts have recently issued reports on the company. Raymond James increased their target price on Lowe’s Companies from $105.00 to $112.00 and gave the stock an “outperform” rating in a research report on Thursday, August 23rd. Argus increased their target price on Lowe’s Companies to $120.00 and gave the stock a “buy” rating in a research report on Thursday, August 23rd. Telsey Advisory Group raised their price objective on Lowe’s Companies from $123.00 to $126.00 and gave the company an “outperform” rating in a research report on Friday, September 28th. Jefferies Financial Group initiated coverage on Lowe’s Companies in a research report on Tuesday, August 21st. They set a “buy” rating and a $118.00 price objective for the company. Finally, Wells Fargo & Co raised their price objective on Lowe’s Companies from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, August 23rd. Eight investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Lowe’s Companies has a consensus rating of “Buy” and an average target price of $112.41.
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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. 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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