Wayne Hummer Investments L.L.C. lessened its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 7.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,525 shares of the home improvement retailer’s stock after selling 279 shares during the period. Wayne Hummer Investments L.L.C.’s holdings in Lowe’s Companies were worth $273,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in LOW. Waldron LP purchased a new stake in Lowe’s Companies in the first quarter worth $364,000. Empire Life Investments Inc. purchased a new stake in Lowe’s Companies in the first quarter worth $17,350,000. Boston Partners increased its stake in Lowe’s Companies by 0.5% in the first quarter. Boston Partners now owns 1,658,826 shares of the home improvement retailer’s stock worth $136,372,000 after purchasing an additional 8,132 shares during the period. HPM Partners LLC purchased a new stake in Lowe’s Companies in the first quarter worth $810,000. Finally, Checchi Capital Advisers LLC increased its stake in Lowe’s Companies by 5.1% in the first quarter. Checchi Capital Advisers LLC now owns 10,226 shares of the home improvement retailer’s stock worth $841,000 after purchasing an additional 497 shares during the period. Institutional investors own 74.22% of the company’s stock.
Shares of Lowe’s Companies, Inc. (NYSE:LOW) opened at 81.21 on Thursday. Lowe’s Companies, Inc. has a 52 week low of $64.87 and a 52 week high of $86.25. The stock has a 50 day moving average price of $77.91 and a 200-day moving average price of $79.39. The firm has a market capitalization of $67.63 billion, a price-to-earnings ratio of 23.06 and a beta of 1.07.
Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Wednesday, August 23rd. The home improvement retailer reported $1.57 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.05). Lowe’s Companies had a net margin of 4.51% and a return on equity of 62.02%. The firm had revenue of $19.50 billion during the quarter, compared to analysts’ expectations of $19.58 billion. During the same period in the previous year, the business earned $1.37 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, analysts anticipate that Lowe’s Companies, Inc. will post $4.50 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 8th. Investors of record on Wednesday, October 25th will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.02%. The ex-dividend date is Tuesday, October 24th. Lowe’s Companies’s payout ratio is currently 46.20%.
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In other Lowe’s Companies news, SVP Matthew V. Hollifield sold 7,853 shares of the stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $78.30, for a total transaction of $614,889.90. Following the sale, the senior vice president now owns 30,750 shares in the company, valued at approximately $2,407,725. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Paul D. Ramsay sold 2,098 shares of the stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $78.02, for a total value of $163,685.96. Following the sale, the insider now owns 8,400 shares in the company, valued at approximately $655,368. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.
A number of research firms have weighed in on LOW. Deutsche Bank AG reiterated a “buy” rating and issued a $90.00 target price (up previously from $85.00) on shares of Lowe’s Companies in a research note on Friday, October 6th. Gordon Haskett began coverage on Lowe’s Companies in a research note on Tuesday, October 3rd. They issued an “accumulate” rating and a $88.00 target price on the stock. Piper Jaffray Companies reiterated a “hold” rating and issued a $80.00 target price on shares of Lowe’s Companies in a research note on Friday, September 29th. Jefferies Group LLC reiterated a “hold” rating and issued a $75.00 target price on shares of Lowe’s Companies in a research note on Thursday, September 28th. Finally, Zacks Investment Research upgraded Lowe’s Companies from a “sell” rating to a “hold” rating in a research note on Monday, September 11th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $85.32.
Lowe’s Companies Company Profile
Lowe’s Companies, Inc (Lowe’s) is a home improvement company. The Company operates approximately 2,370 home improvement and hardware stores. The Company offers a range of products for maintenance, repair, remodeling and decorating. The Company offers home improvement products in categories, including Lumber and Building Materials; Tools and Hardware; Appliances; Fashion Fixtures; Rough Plumbing and Electrical; Lawn and Garden; Seasonal and Outdoor Living; Paint; Flooring; Millwork, and Kitchens.
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