Lincoln Capital Corp decreased its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,167 shares of the home improvement retailer’s stock after selling 757 shares during the quarter. Lowe’s Companies accounts for approximately 2.6% of Lincoln Capital Corp’s investment portfolio, making the stock its 14th largest position. Lincoln Capital Corp’s holdings in Lowe’s Companies were worth $3,097,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Nuveen Asset Management LLC grew its holdings in shares of Lowe’s Companies by 6,680.1% during the second quarter. Nuveen Asset Management LLC now owns 6,312,448 shares of the home improvement retailer’s stock worth $636,989,000 after purchasing an additional 6,219,346 shares during the last quarter. Viking Global Investors LP bought a new stake in shares of Lowe’s Companies during the second quarter worth about $139,358,000. Prudential PLC grew its holdings in shares of Lowe’s Companies by 456.1% during the second quarter. Prudential PLC now owns 1,222,183 shares of the home improvement retailer’s stock worth $123,440,000 after purchasing an additional 1,002,390 shares during the last quarter. Eaton Vance Management grew its holdings in shares of Lowe’s Companies by 49.9% during the second quarter. Eaton Vance Management now owns 2,366,912 shares of the home improvement retailer’s stock worth $238,844,000 after purchasing an additional 788,392 shares during the last quarter. Finally, Nomura Holdings Inc. grew its holdings in shares of Lowe’s Companies by 3,951.6% during the second quarter. Nomura Holdings Inc. now owns 658,582 shares of the home improvement retailer’s stock worth $67,380,000 after purchasing an additional 642,327 shares during the last quarter. 76.35% of the stock is owned by hedge funds and other institutional investors.
In other Lowe’s Companies news, EVP Jennifer L. Weber sold 12,589 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $112.62, for a total value of $1,417,773.18. Following the transaction, the executive vice president now directly owns 17,440 shares of the company’s stock, valued at $1,964,092.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Matthew V. Hollifield sold 12,136 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $112.34, for a total value of $1,363,358.24. Following the completion of the transaction, the chief accounting officer now directly owns 28,017 shares in the company, valued at $3,147,429.78. The disclosure for this sale can be found here. 0.07% of the stock is currently owned by insiders.
LOW stock traded up $1.40 during trading on Friday, hitting $114.00. The company had a trading volume of 2,748,129 shares, compared to its average volume of 4,548,905. The business has a 50-day moving average of $110.71 and a 200-day moving average of $105.70. Lowe’s Companies, Inc. has a one year low of $84.75 and a one year high of $118.23. The stock has a market cap of $86.60 billion, a PE ratio of 22.18, a PEG ratio of 1.47 and a beta of 1.29. The company has a current ratio of 1.06, a quick ratio of 0.19 and a debt-to-equity ratio of 7.80.
Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, August 21st. The home improvement retailer reported $2.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.00 by $0.15. Lowe’s Companies had a return on equity of 111.09% and a net margin of 3.52%. The firm had revenue of $20.99 billion for the quarter, compared to analyst estimates of $20.96 billion. During the same period in the previous year, the firm earned $2.07 earnings per share. The company’s revenue was up .5% compared to the same quarter last year. Research analysts forecast that Lowe’s Companies, Inc. will post 5.67 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.93%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 42.80%.
Several analysts have recently weighed in on LOW shares. Citigroup boosted their price target on Lowe’s Companies from $122.00 to $137.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Morgan Stanley boosted their price target on Lowe’s Companies from $123.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Piper Jaffray Companies upgraded Lowe’s Companies from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $113.00 to $130.00 in a report on Tuesday, October 15th. Jefferies Financial Group set a $125.00 price target on Lowe’s Companies and gave the stock a “buy” rating in a report on Monday, August 26th. Finally, Barclays upgraded Lowe’s Companies from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $105.00 to $125.00 in a report on Thursday, October 31st. Six investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Lowe’s Companies currently has a consensus rating of “Buy” and an average price target of $123.20.
Lowe’s Companies Company 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.
Read More: Why is the ROA ratio important?
Want to see what other hedge funds are holding LOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lowe’s Companies, Inc. (NYSE:LOW).
Receive News & Ratings for Lowe's Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lowe's Companies and related companies with MarketBeat.com's FREE daily email newsletter.