Prospera Financial Services Inc lifted its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 75.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,855 shares of the home improvement retailer’s stock after purchasing an additional 8,542 shares during the period. Prospera Financial Services Inc’s holdings in Lowe’s Companies were worth $2,183,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of LOW. Canada Pension Plan Investment Board lifted its holdings in Lowe’s Companies by 11.5% in the second quarter. Canada Pension Plan Investment Board now owns 786,970 shares of the home improvement retailer’s stock valued at $79,413,000 after acquiring an additional 81,426 shares during the last quarter. JNBA Financial Advisors acquired a new position in Lowe’s Companies in the second quarter valued at approximately $40,000. Nuveen Asset Management LLC lifted its holdings in Lowe’s Companies by 6,680.1% in the second quarter. Nuveen Asset Management LLC now owns 6,312,448 shares of the home improvement retailer’s stock valued at $636,989,000 after acquiring an additional 6,219,346 shares during the last quarter. Carnick & Kubik Group LLC lifted its holdings in Lowe’s Companies by 1.5% in the second quarter. Carnick & Kubik Group LLC now owns 20,915 shares of the home improvement retailer’s stock valued at $2,111,000 after acquiring an additional 310 shares during the last quarter. Finally, Fagan Associates Inc. lifted its holdings in Lowe’s Companies by 3.1% in the second quarter. Fagan Associates Inc. now owns 67,100 shares of the home improvement retailer’s stock valued at $6,771,000 after acquiring an additional 2,043 shares during the last quarter. Institutional investors and hedge funds own 76.32% of the company’s stock.
In other news, CAO Matthew V. Hollifield sold 12,136 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $112.34, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jennifer L. Weber sold 12,589 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 17,440 shares in the company, valued at approximately $1,964,092.80. The disclosure for this sale can be found here. 0.07% of the stock is currently owned by corporate insiders.
NYSE LOW traded down $1.23 on Wednesday, reaching $111.24. The stock had a trading volume of 137,471 shares, compared to its average volume of 3,653,416. The firm has a market capitalization of $86.40 billion, a price-to-earnings ratio of 21.65, a P/E/G ratio of 1.42 and a beta of 1.30. The company has a quick ratio of 0.19, a current ratio of 1.06 and a debt-to-equity ratio of 7.80. Lowe’s Companies, Inc. has a 12-month low of $84.75 and a 12-month high of $118.23. The stock has a fifty day moving average price of $111.24 and a two-hundred day moving average price of $105.98.
Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Wednesday, August 21st. The home improvement retailer reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $20.99 billion for the quarter, compared to analyst estimates of $20.96 billion. During the same quarter in the prior year, the company earned $2.07 earnings per share. The company’s revenue was up .5% on a year-over-year basis. Sell-side analysts forecast that Lowe’s Companies, Inc. will post 5.67 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Tuesday, October 22nd. Lowe’s Companies’s dividend payout ratio is currently 42.80%.
A number of research analysts recently commented on the company. Jefferies Financial Group set a $125.00 price objective on Lowe’s Companies and gave the company a “buy” rating in a report on Monday, August 26th. 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. ValuEngine cut Lowe’s Companies from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Zacks Investment Research upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and set a $116.00 price objective on the stock in a report on Monday, September 30th. Finally, Wedbush upgraded Lowe’s Companies from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $115.00 to $135.00 in a report on Monday, September 16th. Nine investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Lowe’s Companies presently has a consensus rating of “Buy” and an average price target of $120.96.
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. 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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