Fmr LLC decreased its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 9.1% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 21,729,232 shares of the home improvement retailer’s stock after selling 2,164,691 shares during the period. Fmr LLC’s holdings in Lowe’s Companies were worth $2,378,699,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in LOW. Clarfeld Financial Advisors LLC bought a new position in Lowe’s Companies in the 4th quarter valued at $26,000. Advisors Preferred LLC acquired a new position in Lowe’s Companies in the first quarter valued at about $26,000. Icon Wealth Partners LLC acquired a new position in Lowe’s Companies in the first quarter valued at about $26,000. Prime Capital Investment Advisors LLC acquired a new position in Lowe’s Companies in the first quarter valued at about $33,000. Finally, Thor Advisors LLC acquired a new position in Lowe’s Companies in the first quarter valued at about $35,000. 76.79% of the stock is currently owned by institutional investors and hedge funds.
LOW traded up $0.12 on Monday, hitting $99.75. 753,001 shares of the company were exchanged, compared to its average volume of 6,712,879. Lowe’s Companies, Inc. has a 12 month low of $84.75 and a 12 month high of $118.23. The firm has a market capitalization of $78.00 billion, a PE ratio of 19.41, a PEG ratio of 1.26 and a beta of 1.37. The company has a debt-to-equity ratio of 6.37, a quick ratio of 0.24 and a current ratio of 1.09.
Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, May 22nd. The home improvement retailer reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.11). Lowe’s Companies had a return on equity of 91.85% and a net margin of 3.31%. The company had revenue of $17.74 billion for the quarter, compared to the consensus estimate of $17.65 billion. During the same quarter in the previous year, the company posted $1.19 EPS. The business’s revenue was up 2.2% on a year-over-year basis. On average, research analysts forecast that Lowe’s Companies, Inc. will post 5.59 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend is Tuesday, July 23rd. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.48. Lowe’s Companies’s dividend payout ratio is presently 37.35%.
A number of research analysts have issued reports on LOW shares. Wells Fargo & Co boosted their target price on Lowe’s Companies from $110.00 to $120.00 in a research note on Thursday, February 28th. Morgan Stanley set a $115.00 price objective on Lowe’s Companies and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Citigroup upped their price objective on Lowe’s Companies from $125.00 to $127.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. ValuEngine raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Thursday, February 28th. Finally, UBS Group reduced their price objective on Lowe’s Companies from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. Ten analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Lowe’s Companies presently has a consensus rating of “Buy” and a consensus price target of $113.13.
In related news, insider Marvin R. Ellison bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were acquired at an average price of $95.05 per share, for a total transaction of $950,500.00. Following the completion of the acquisition, the insider now owns 80,090 shares of the company’s stock, valued at approximately $7,612,554.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.07% of the company’s stock.
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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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