FineMark National Bank & Trust Purchases 9,252 Shares of Lowe’s Companies, Inc. (LOW)

Share on StockTwits

FineMark National Bank & Trust boosted its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 40.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,202 shares of the home improvement retailer’s stock after buying an additional 9,252 shares during the period. FineMark National Bank & Trust’s holdings in Lowe’s Companies were worth $3,697,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Magellan Asset Management Ltd lifted its holdings in Lowe’s Companies by 0.3% in the 2nd quarter. Magellan Asset Management Ltd now owns 20,201,275 shares of the home improvement retailer’s stock valued at $1,930,636,000 after acquiring an additional 51,787 shares during the last quarter. Ironsides Asset Advisors LLC lifted its holdings in Lowe’s Companies by 698.3% in the 2nd quarter. Ironsides Asset Advisors LLC now owns 8,327,089 shares of the home improvement retailer’s stock valued at $98,637,000 after acquiring an additional 7,284,000 shares during the last quarter. Boston Partners lifted its holdings in Lowe’s Companies by 382.4% in the 2nd quarter. Boston Partners now owns 4,784,235 shares of the home improvement retailer’s stock valued at $457,230,000 after acquiring an additional 3,792,479 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Lowe’s Companies by 1.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 3,423,886 shares of the home improvement retailer’s stock valued at $327,221,000 after acquiring an additional 61,681 shares during the last quarter. Finally, Winslow Capital Management LLC acquired a new stake in Lowe’s Companies in the 2nd quarter valued at about $303,908,000. Hedge funds and other institutional investors own 74.59% of the company’s stock.

LOW stock opened at $97.51 on Wednesday. The company has a quick ratio of 0.25, a current ratio of 1.06 and a debt-to-equity ratio of 2.58. Lowe’s Companies, Inc. has a one year low of $77.14 and a one year high of $117.70. The stock has a market cap of $78.26 billion, a price-to-earnings ratio of 22.21, a PEG ratio of 1.30 and a beta of 1.52.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Wednesday, August 22nd. The home improvement retailer reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.05. Lowe’s Companies had a net margin of 5.58% and a return on equity of 71.96%. The company had revenue of $20.89 billion during the quarter, compared to analyst estimates of $20.79 billion. During the same period in the prior year, the firm earned $1.57 earnings per share. The business’s quarterly revenue was up 7.1% on a year-over-year basis. Sell-side analysts predict that Lowe’s Companies, Inc. will post 5.19 EPS for the current year.

The company also recently disclosed 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 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Tuesday, October 23rd. Lowe’s Companies’s dividend payout ratio is presently 43.74%.

A number of brokerages have weighed in on LOW. Goldman Sachs Group set a $125.00 price target on shares of Lowe’s Companies and gave the company a “buy” rating in a report on Friday, September 28th. Bank of America set a $132.00 price target on shares of Lowe’s Companies and gave the company a “buy” rating in a report on Tuesday, October 2nd. SunTrust Banks raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Friday, September 28th. Telsey Advisory Group upped their price target on shares of Lowe’s Companies from $123.00 to $126.00 and gave the company an “outperform” rating in a report on Friday, September 28th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $130.00 price target (up from $120.00) on shares of Lowe’s Companies in a report on Monday, September 17th. Eight research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Lowe’s Companies presently has a consensus rating of “Buy” and a consensus target price of $112.41.

In other news, CFO Marshall A. Croom sold 15,735 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 63,099 shares of the company’s stock, valued at $7,231,776.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lisa W. Wardell purchased 273 shares of Lowe’s Companies stock in a transaction dated Friday, August 24th. The stock was bought at an average cost of $107.72 per share, with a total value of $29,407.56. Following the completion of the transaction, the director now directly owns 273 shares of the company’s stock, valued at $29,407.56. The disclosure for this purchase can be found here. 0.30% of the stock is currently owned by corporate insiders.

ILLEGAL ACTIVITY WARNING: This piece of content was originally published by Macon Daily and is owned by of Macon Daily. If you are viewing this piece of content on another publication, it was copied illegally and reposted in violation of US and international trademark & copyright legislation. The legal version of this piece of content can be viewed at https://macondaily.com/2018/11/07/finemark-national-bank-trust-purchases-9252-shares-of-lowes-companies-inc-low.html.

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.

Further Reading: Institutional Investors

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).

Institutional Ownership by Quarter for Lowe`s Companies (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.

Leave a Reply