Folger Nolan Fleming Douglas Capital Management Inc. lowered its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.4% in the second quarter, Holdings Channel reports. The institutional investor owned 112,223 shares of the home improvement retailer’s stock after selling 1,600 shares during the period. Lowe’s Companies accounts for 1.6% of Folger Nolan Fleming Douglas Capital Management Inc.’s holdings, making the stock its 9th biggest holding. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Lowe’s Companies were worth $10,725,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the business. NuWave Investment Management LLC purchased a new position in shares of Lowe’s Companies in the 2nd quarter valued at about $126,000. FNY Investment Advisers LLC purchased a new position in Lowe’s Companies during the 2nd quarter valued at about $127,000. ClariVest Asset Management LLC purchased a new position in Lowe’s Companies during the 1st quarter valued at about $118,000. Rainier Group Investment Advisory LLC purchased a new position in Lowe’s Companies during the 1st quarter valued at about $121,000. Finally, Jacobi Capital Management LLC increased its holdings in Lowe’s Companies by 88.8% during the 1st quarter. Jacobi Capital Management LLC now owns 1,524 shares of the home improvement retailer’s stock valued at $129,000 after acquiring an additional 717 shares in the last quarter. Institutional investors own 75.48% of the company’s stock.
In other Lowe’s Companies news, SVP Matthew V. Hollifield sold 12,362 shares of the firm’s stock in a transaction dated Friday, June 8th. The shares were 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 SEC, which can be accessed through this link. 0.30% of the stock is owned by company insiders.
Several research firms have weighed in on LOW. Credit Suisse Group set a $111.00 target price on shares of Lowe’s Companies and gave the company a “buy” rating in a report on Monday, May 14th. Morgan Stanley set a $115.00 target price on shares of Lowe’s Companies and gave the company a “buy” rating in a report on Thursday, May 24th. Royal Bank of Canada raised their target price on shares of Lowe’s Companies to $104.00 and gave the company an “outperform” rating in a report on Thursday, May 24th. Zacks Investment Research upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating and set a $113.00 target price for the company in a report on Tuesday, July 24th. Finally, Wedbush set a $92.00 target price on shares of Lowe’s Companies and gave the company a “hold” rating in a report on Thursday, May 24th. Nine equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $103.00.
Lowe’s Companies stock opened at $97.98 on Monday. Lowe’s Companies, Inc. has a 12-month low of $70.76 and a 12-month high of $108.98. The stock has a market cap of $80.24 billion, a price-to-earnings ratio of 22.32, a PEG ratio of 1.18 and a beta of 1.32. The company has a debt-to-equity ratio of 2.60, a quick ratio of 0.18 and a current ratio of 1.02.
Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, May 23rd. The home improvement retailer reported $1.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 firm 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 earnings per share. Lowe’s Companies’s revenue for the quarter was up 3.0% on a year-over-year basis. equities research analysts expect that Lowe’s Companies, Inc. will post 5.44 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 7th. Shareholders 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 dividend yield of 1.96%. Lowe’s Companies’s dividend payout ratio is currently 43.74%.
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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