Tocqueville Asset Management L.P. decreased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 179,579 shares of the home improvement retailer’s stock after selling 100 shares during the period. Tocqueville Asset Management L.P.’s holdings in Lowe’s Companies were worth $13,923,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. increased its stake in Lowe’s Companies by 0.4% during the 1st quarter. SRS Capital Advisors Inc. now owns 1,236 shares of the home improvement retailer’s stock worth $101,000 after buying an additional 5 shares during the period. Harbour Capital Advisors LLC purchased a new stake in Lowe’s Companies during the 1st quarter worth $103,000. Hanson McClain Inc. increased its stake in Lowe’s Companies by 3.5% during the 1st quarter. Hanson McClain Inc. now owns 1,337 shares of the home improvement retailer’s stock worth $110,000 after buying an additional 45 shares during the period. State of Alaska Department of Revenue increased its stake in Lowe’s Companies by 8.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 1,440 shares of the home improvement retailer’s stock worth $111,000 after buying an additional 110 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Lowe’s Companies during the 1st quarter worth $119,000. 74.22% of the stock is currently owned by hedge funds and other institutional investors.
LOW has been the topic of several analyst reports. Bank of America Corporation initiated coverage on shares of Lowe’s Companies in a research note on Tuesday, September 5th. They set a “buy” rating and a $95.00 price target on the stock. Zacks Investment Research downgraded shares of Lowe’s Companies from a “hold” rating to a “sell” rating in a research report on Monday, August 28th. Stifel Nicolaus reissued a “buy” rating and issued a $87.00 target price on shares of Lowe’s Companies in a research report on Friday, July 21st. Oppenheimer Holdings, Inc. set a $100.00 target price on shares of Lowe’s Companies and gave the stock a “buy” rating in a research report on Wednesday, August 23rd. Finally, Deutsche Bank AG dropped their target price on shares of Lowe’s Companies from $92.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, August 24th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $85.32.
Lowe’s Companies, Inc. (NYSE LOW) opened at 81.57 on Friday. Lowe’s Companies, Inc. has a 1-year low of $64.87 and a 1-year high of $86.25. The firm has a market capitalization of $67.93 billion, a price-to-earnings ratio of 23.16 and a beta of 1.07. The firm’s 50-day moving average is $78.16 and its 200-day moving average is $79.41.
Lowe’s Companies (NYSE:LOW) last announced its earnings results on Wednesday, August 23rd. The home improvement retailer reported $1.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.05). The firm had revenue of $19.50 billion for the quarter, compared to analyst estimates of $19.58 billion. Lowe’s Companies had a return on equity of 62.02% and a net margin of 4.51%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.37 EPS. On average, equities analysts anticipate that Lowe’s Companies, Inc. will post $4.50 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 8th. Investors of record on Wednesday, October 25th will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Tuesday, October 24th. Lowe’s Companies’s dividend payout ratio (DPR) is currently 46.20%.
In related news, SVP Matthew V. Hollifield sold 7,853 shares of the stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $78.30, for a total transaction of $614,889.90. Following the completion of 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul D. Ramsay sold 2,098 shares of the stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $78.02, for a total transaction of $163,685.96. Following the sale, the insider now owns 8,400 shares of the company’s stock, valued at approximately $655,368. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.
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About Lowe’s Companies
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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