M Holdings Securities Inc. reduced its position in Lowe’s Companies, Inc. (NYSE:LOW) by 27.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,975 shares of the home improvement retailer’s stock after selling 2,687 shares during the quarter. M Holdings Securities Inc.’s holdings in Lowe’s Companies were worth $801,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in LOW. Nisa Investment Advisors LLC grew its holdings in Lowe’s Companies by 1.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 322,325 shares of the home improvement retailer’s stock worth $37,009,000 after acquiring an additional 3,880 shares during the last quarter. CI Investments Inc. bought a new stake in Lowe’s Companies during the 3rd quarter worth approximately $59,775,000. Point72 Asset Management L.P. bought a new stake in Lowe’s Companies during the 3rd quarter worth approximately $53,176,000. PNC Financial Services Group Inc. grew its holdings in Lowe’s Companies by 2.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 566,522 shares of the home improvement retailer’s stock worth $65,047,000 after acquiring an additional 12,321 shares during the last quarter. Finally, Woodstock Corp grew its holdings in Lowe’s Companies by 37.3% during the 3rd quarter. Woodstock Corp now owns 8,975 shares of the home improvement retailer’s stock worth $1,031,000 after acquiring an additional 2,440 shares during the last quarter. 74.33% of the stock is currently owned by hedge funds and other institutional investors.
In other Lowe’s Companies news, Director Brian C. Rogers purchased 10,000 shares of the firm’s stock in a transaction on Friday, November 23rd. The stock was acquired at an average price of $88.02 per share, for a total transaction of $880,200.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $880,200. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.30% of the company’s stock.
LOW stock traded down $1.05 during midday trading on Thursday, reaching $95.98. 4,450,917 shares of the company’s stock traded hands, compared to its average volume of 4,542,273. The firm has a market capitalization of $75.37 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 1.30 and a beta of 1.35. The company has a current ratio of 1.00, a quick ratio of 0.18 and a debt-to-equity ratio of 2.68. Lowe’s Companies, Inc. has a 52 week low of $81.16 and a 52 week high of $117.70.
Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Tuesday, November 20th. The home improvement retailer reported $1.04 EPS for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.06. The business had revenue of $17.42 billion during the quarter, compared to analyst estimates of $17.36 billion. Lowe’s Companies had a net margin of 5.19% and a return on equity of 72.47%. Lowe’s Companies’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.05 EPS. On average, equities analysts predict that Lowe’s Companies, Inc. will post 5.11 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 6th. Shareholders of record on Wednesday, January 23rd will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, January 22nd. This represents a $1.92 dividend on an annualized basis and a yield of 2.00%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 43.74%.
A number of equities research analysts have weighed in on the stock. Goldman Sachs Group set a $125.00 target price on shares of Lowe’s Companies and gave the stock a “buy” rating in a report on Friday, September 28th. Bank of America set a $132.00 price target on shares of Lowe’s Companies and gave the stock a “buy” rating in a research report on Tuesday, October 2nd. Telsey Advisory Group boosted their price target on shares of Lowe’s Companies from $123.00 to $126.00 and gave the stock an “outperform” rating in a research report on Friday, September 28th. SunTrust Banks upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Friday, September 28th. Finally, Robert W. Baird restated an “outperform” rating and issued a $130.00 price target (up previously from $120.00) on shares of Lowe’s Companies in a research report on Monday, September 17th. Nine analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Lowe’s Companies currently has a consensus rating of “Buy” and an average price target of $111.65.
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About Lowe’s Companies
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. It offers a line of products for maintenance, repair, remodeling, and decorating. The company provides home improvement products in various categories, such as lumber and building materials, tools and hardware, appliances, fashion fixtures, rough plumbing and electrical, seasonal and outdoor living, lawn and garden, paint, millwork, flooring, and kitchens, as well as outdoor power equipment.
Further Reading: Institutional Investors
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