Stephens Inc. AR boosted its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 17.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,105 shares of the home improvement retailer’s stock after acquiring an additional 13,915 shares during the period. Stephens Inc. AR’s holdings in Lowe’s Companies were worth $7,141,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of LOW. BlackRock Inc. raised its holdings in Lowe’s Companies by 1,757.3% in the first quarter. BlackRock Inc. now owns 61,377,883 shares of the home improvement retailer’s stock valued at $5,045,875,000 after acquiring an additional 58,073,138 shares in the last quarter. OppenheimerFunds Inc. raised its holdings in Lowe’s Companies by 204.0% in the first quarter. OppenheimerFunds Inc. now owns 8,018,171 shares of the home improvement retailer’s stock valued at $659,174,000 after acquiring an additional 5,380,759 shares in the last quarter. Vanguard Group Inc. raised its holdings in Lowe’s Companies by 4.3% in the first quarter. Vanguard Group Inc. now owns 63,871,103 shares of the home improvement retailer’s stock valued at $5,250,843,000 after acquiring an additional 2,650,045 shares in the last quarter. Glenview Capital Management LLC raised its holdings in Lowe’s Companies by 33.8% in the first quarter. Glenview Capital Management LLC now owns 5,452,659 shares of the home improvement retailer’s stock valued at $448,263,000 after acquiring an additional 1,376,540 shares in the last quarter. Finally, Scopus Asset Management L.P. raised its holdings in Lowe’s Companies by 866.7% in the first quarter. Scopus Asset Management L.P. now owns 1,450,000 shares of the home improvement retailer’s stock valued at $119,205,000 after acquiring an additional 1,300,000 shares in the last quarter. 74.36% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently issued reports on LOW. Deutsche Bank AG reaffirmed a “buy” rating and issued a $90.00 price target (up from $85.00) on shares of Lowe’s Companies in a report on Friday, October 6th. Gordon Haskett began coverage on shares of Lowe’s Companies in a report on Tuesday, October 3rd. They issued an “accumulate” rating and a $88.00 price target on the stock. Zacks Investment Research raised shares of Lowe’s Companies from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. Robert W. Baird set a $87.00 price target on shares of Lowe’s Companies and gave the company a “buy” rating in a report on Tuesday. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $80.00 price target on shares of Lowe’s Companies in a report on Friday, September 29th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $85.40.
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In other Lowe’s Companies news, SVP Matthew V. Hollifield sold 7,853 shares of Lowe’s Companies 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 completion of the transaction, the senior vice president now directly owns 30,750 shares of the company’s stock, valued at $2,407,725. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul D. Ramsay sold 2,098 shares of Lowe’s Companies 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 transaction, the insider now directly owns 8,400 shares of the company’s stock, valued at $655,368. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by company insiders.
Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, August 23rd. The home improvement retailer reported $1.57 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.62 by ($0.05). The company had revenue of $19.50 billion for the quarter, compared to the consensus estimate of $19.58 billion. Lowe’s Companies had a net margin of 4.51% and a return on equity of 62.02%. The firm’s revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.37 earnings per share.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 8th. Shareholders of record on Wednesday, October 25th will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Tuesday, October 24th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.05%. Lowe’s Companies’s payout ratio is presently 46.20%.
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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