Montag & Caldwell LLC raised its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 16.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 685,225 shares of the home improvement retailer’s stock after buying an additional 99,098 shares during the quarter. Lowe’s Companies makes up approximately 3.6% of Montag & Caldwell LLC’s holdings, making the stock its 8th largest holding. Montag & Caldwell LLC owned 0.09% of Lowe’s Companies worth $69,146,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also bought and sold shares of LOW. Tdam USA Inc. lifted its stake in shares of Lowe’s Companies by 9.5% in the 1st quarter. Tdam USA Inc. now owns 8,719 shares of the home improvement retailer’s stock valued at $954,000 after purchasing an additional 760 shares in the last quarter. Cadence Bank NA lifted its stake in shares of Lowe’s Companies by 0.5% in the 1st quarter. Cadence Bank NA now owns 23,458 shares of the home improvement retailer’s stock valued at $2,568,000 after purchasing an additional 112 shares in the last quarter. JNBA Financial Advisors acquired a new position in shares of Lowe’s Companies in the 2nd quarter valued at about $40,000. Moseley Investment Management Inc. acquired a new position in shares of Lowe’s Companies in the 1st quarter valued at about $360,000. Finally, Wheatland Advisors Inc. acquired a new position in shares of Lowe’s Companies in the 1st quarter valued at about $1,546,000. Institutional investors own 76.36% of the company’s stock.
Several equities analysts recently commented on the company. UBS Group reduced their price target on Lowe’s Companies from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. Goldman Sachs Group assumed coverage on Lowe’s Companies in a research report on Thursday, July 11th. They set a “buy” rating and a $119.00 price target on the stock. Wedbush reduced their price target on Lowe’s Companies from $110.00 to $105.00 and set a “neutral” rating on the stock in a research report on Thursday, May 23rd. Gabelli reissued a “buy” rating on shares of Lowe’s Companies in a research report on Thursday, May 23rd. Finally, Bank of America set a $135.00 price target on Lowe’s Companies and gave the stock a “buy” rating in a research report on Monday, May 27th. Ten investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $112.88.
Lowe’s Companies (NYSE:LOW) last announced its earnings results on Wednesday, May 22nd. The home improvement retailer reported $1.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.33 by ($0.11). Lowe’s Companies had a net margin of 3.31% and a return on equity of 91.85%. The business had revenue of $17.74 billion during the quarter, compared to analyst estimates of $17.65 billion. During the same period in the previous year, the company earned $1.19 earnings per share. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, analysts anticipate that Lowe’s Companies, Inc. will post 5.59 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.37%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Tuesday, July 23rd. Lowe’s Companies’s payout ratio is 42.80%.
In related news, insider Marvin R. Ellison acquired 10,000 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was purchased at an average cost of $95.05 per share, for a total transaction of $950,500.00. Following the purchase, the insider now directly owns 80,090 shares in the company, valued at $7,612,554.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Donald Frieson acquired 2,030 shares of the stock in a transaction that occurred on Wednesday, June 19th. The shares were bought at an average price of $98.69 per share, with a total value of $200,340.70. Following the completion of the purchase, the executive vice president now owns 10,980 shares in the company, valued at $1,083,616.20. The disclosure for this purchase can be found here. Insiders bought a total of 12,280 shares of company stock valued at $1,174,566 over the last quarter. Company insiders own 0.07% of the company’s stock.
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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