Boston Advisors LLC reduced its position in Lowe’s Companies, Inc. (NYSE:LOW) by 40.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,440 shares of the home improvement retailer’s stock after selling 29,035 shares during the quarter. Boston Advisors LLC’s holdings in Lowe’s Companies were worth $4,012,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LOW. Capital International Investors purchased a new stake in shares of Lowe’s Companies during the third quarter valued at $746,818,000. FMR LLC grew its holdings in shares of Lowe’s Companies by 8.0% during the third quarter. FMR LLC now owns 21,879,740 shares of the home improvement retailer’s stock valued at $2,512,233,000 after buying an additional 1,616,536 shares during the last quarter. Winslow Capital Management LLC grew its holdings in shares of Lowe’s Companies by 28.4% during the third quarter. Winslow Capital Management LLC now owns 4,081,562 shares of the home improvement retailer’s stock valued at $468,645,000 after buying an additional 901,607 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Lowe’s Companies by 50.0% during the third quarter. AQR Capital Management LLC now owns 2,641,814 shares of the home improvement retailer’s stock valued at $303,333,000 after buying an additional 880,253 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Lowe’s Companies during the third quarter valued at $90,375,000. 74.37% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Brian C. Rogers purchased 10,000 shares of the company’s stock in a transaction dated Friday, November 23rd. The stock was acquired at an average price of $88.02 per share, with a total value of $880,200.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $880,200. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.30% of the stock is currently owned by corporate insiders.
LOW stock traded up $0.29 during mid-day trading on Friday, reaching $97.17. The company’s stock had a trading volume of 6,217,189 shares, compared to its average volume of 4,285,934. The company has a market cap of $77.79 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 1.13 and a beta of 1.27. 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 fifty-two week low of $81.16 and a fifty-two week high of $117.70.
Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data 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 company had revenue of $17.42 billion during the quarter, compared to the consensus estimate 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 prior year, the firm earned $1.05 EPS. As a group, equities analysts forecast that Lowe’s Companies, Inc. will post 5.11 earnings per share for the current year.
Several research firms have commented on LOW. Credit Suisse Group reaffirmed a “neutral” rating and issued a $111.00 price target (down from $115.00) on shares of Lowe’s Companies in a report on Wednesday, October 17th. Wedbush set a $115.00 price target on shares of Lowe’s Companies and gave the company a “neutral” rating in a report on Monday, October 15th. Gordon Haskett lowered shares of Lowe’s Companies from an “accumulate” rating to a “hold” rating in a report on Thursday, November 8th. Morgan Stanley lowered their price target on shares of Lowe’s Companies from $125.00 to $110.00 and set an “overweight” rating on the stock in a report on Tuesday, October 23rd. Finally, Citigroup upgraded shares of Lowe’s Companies from a “neutral” rating to a “buy” rating and set a $112.00 price objective for the company in a research report on Tuesday, October 23rd. Ten investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Lowe’s Companies presently has an average rating of “Buy” and a consensus price target of $111.36.
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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.
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