Gilman Hill Asset Management LLC reduced its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 4.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,484 shares of the home improvement retailer’s stock after selling 290 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in Lowe’s Companies were worth $713,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in LOW. Nuveen Asset Management LLC increased its stake in Lowe’s Companies by 6,680.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 6,312,448 shares of the home improvement retailer’s stock worth $636,989,000 after acquiring an additional 6,219,346 shares during the last quarter. Viking Global Investors LP bought a new position in Lowe’s Companies in the 2nd quarter worth about $139,358,000. Prudential PLC increased its stake in Lowe’s Companies by 456.1% in the 2nd quarter. Prudential PLC now owns 1,222,183 shares of the home improvement retailer’s stock worth $123,440,000 after acquiring an additional 1,002,390 shares during the last quarter. Eaton Vance Management increased its stake in Lowe’s Companies by 49.9% in the 2nd quarter. Eaton Vance Management now owns 2,366,912 shares of the home improvement retailer’s stock worth $238,844,000 after acquiring an additional 788,392 shares during the last quarter. Finally, Nomura Holdings Inc. increased its stake in Lowe’s Companies by 3,951.6% in the 2nd quarter. Nomura Holdings Inc. now owns 658,582 shares of the home improvement retailer’s stock worth $67,380,000 after acquiring an additional 642,327 shares during the last quarter. Institutional investors and hedge funds own 76.31% of the company’s stock.
LOW has been the topic of a number of research analyst reports. ValuEngine lowered Lowe’s Companies from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Goldman Sachs Group assumed coverage on Lowe’s Companies in a report on Thursday, July 11th. They issued a “buy” rating and a $119.00 price objective for the company. Credit Suisse Group reiterated a “neutral” rating and issued a $114.00 price objective (up from $99.00) on shares of Lowe’s Companies in a report on Thursday, August 22nd. Morgan Stanley upped their price objective on Lowe’s Companies from $123.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Finally, Citigroup upped their price objective on Lowe’s Companies from $122.00 to $137.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Nine analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Lowe’s Companies presently has a consensus rating of “Buy” and a consensus price target of $120.96.
In related news, EVP Jennifer L. Weber sold 12,589 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $112.62, for a total transaction of $1,417,773.18. Following the completion of the sale, the executive vice president now directly owns 17,440 shares in the company, valued at approximately $1,964,092.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Matthew V. Hollifield sold 12,136 shares of the stock in a transaction dated 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 sale, the chief accounting officer now owns 28,017 shares of the company’s stock, valued at $3,147,429.78. The disclosure for this sale can be found here. Corporate insiders own 0.07% of the company’s stock.
Shares of LOW stock opened at $112.84 on Friday. The stock has a market capitalization of $86.90 billion, a PE ratio of 21.61, a P/E/G ratio of 1.42 and a beta of 1.30. Lowe’s Companies, Inc. has a 1-year low of $84.75 and a 1-year high of $118.23. The business has a 50-day moving average of $111.21 and a 200 day moving average of $105.93. The company has a debt-to-equity ratio of 7.80, a current ratio of 1.06 and a quick ratio of 0.19.
Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, August 21st. The home improvement retailer reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.00 by $0.15. The company had revenue of $20.99 billion during the quarter, compared to analysts’ expectations of $20.96 billion. Lowe’s Companies had a return on equity of 111.09% and a net margin of 3.52%. Lowe’s Companies’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.07 EPS. Analysts anticipate that Lowe’s Companies, Inc. will post 5.67 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.95%. The ex-dividend date is Tuesday, October 22nd. Lowe’s Companies’s dividend payout ratio is presently 42.80%.
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.
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