Mission Wealth Management LP increased its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 12.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 5,934 shares of the home improvement retailer’s stock after purchasing an additional 648 shares during the period. Mission Wealth Management LP’s holdings in Lowe’s Companies were worth $567,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in LOW. Bremer Trust National Association bought a new position in Lowe’s Companies in the second quarter valued at about $228,000. RFG Advisory Group LLC raised its position in Lowe’s Companies by 54.8% in the second quarter. RFG Advisory Group LLC now owns 3,903 shares of the home improvement retailer’s stock valued at $373,000 after purchasing an additional 1,381 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Lowe’s Companies in the second quarter valued at about $8,224,000. Fisher Asset Management LLC raised its position in Lowe’s Companies by 5.3% in the second quarter. Fisher Asset Management LLC now owns 34,263 shares of the home improvement retailer’s stock valued at $3,275,000 after purchasing an additional 1,733 shares during the last quarter. Finally, Segment Wealth Management LLC bought a new position in Lowe’s Companies in the second quarter valued at about $202,000. Institutional investors and hedge funds own 75.48% of the company’s stock.
In related news, SVP Matthew V. Hollifield sold 12,362 shares of the firm’s stock in a transaction that occurred on Friday, June 8th. The stock was sold at an average price of $99.56, for a total transaction of $1,230,760.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.30% of the company’s stock.
A number of equities analysts have recently issued reports on LOW shares. Wells Fargo & Co started coverage on Lowe’s Companies in a research report on Monday, April 23rd. They set an “outperform” rating and a $100.00 price objective for the company. Zacks Investment Research downgraded Lowe’s Companies from a “hold” rating to a “sell” rating in a research report on Tuesday, May 1st. Credit Suisse Group set a $111.00 price objective on Lowe’s Companies and gave the stock a “buy” rating in a research report on Monday, May 14th. Loop Capital upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and set a $107.00 price objective for the company in a research report on Wednesday, May 23rd. Finally, Wedbush set a $92.00 price objective on Lowe’s Companies and gave the stock a “hold” rating in a research report on Thursday, May 24th. Nine research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $103.00.
NYSE LOW opened at $97.98 on Friday. Lowe’s Companies, Inc. has a one year low of $70.76 and a one year high of $108.98. The company has a market cap of $80.24 billion, a P/E ratio of 22.32, a price-to-earnings-growth ratio of 1.18 and a beta of 1.32. The company has a quick ratio of 0.18, a current ratio of 1.02 and a debt-to-equity ratio of 2.60.
Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, May 23rd. The home improvement retailer reported $1.19 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.03). Lowe’s Companies had a return on equity of 66.36% and a net margin of 5.55%. The business had revenue of $17.36 billion for the quarter, compared to analyst estimates of $17.44 billion. During the same period in the prior year, the business earned $1.03 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. research analysts predict that Lowe’s Companies, Inc. will post 5.44 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 7th. Investors of record on Wednesday, October 24th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.96%. Lowe’s Companies’s dividend payout ratio is currently 43.74%.
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. 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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