Oakbrook Investments LLC cut its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 16.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,616 shares of the home improvement retailer’s stock after selling 8,830 shares during the quarter. Oakbrook Investments LLC’s holdings in Lowe’s Companies were worth $4,213,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of LOW. Contravisory Investment Management Inc. boosted its stake in Lowe’s Companies by 360.6% during the fourth quarter. Contravisory Investment Management Inc. now owns 654 shares of the home improvement retailer’s stock valued at $60,000 after buying an additional 512 shares during the period. Columbia Asset Management purchased a new position in shares of Lowe’s Companies in the third quarter worth about $109,000. Capital Advisors Ltd. LLC purchased a new position in shares of Lowe’s Companies in the third quarter worth about $116,000. Stelac Advisory Services LLC purchased a new position in shares of Lowe’s Companies in the third quarter worth about $123,000. Finally, Rational Advisors LLC increased its holdings in shares of Lowe’s Companies by 1,005.9% in the third quarter. Rational Advisors LLC now owns 1,117 shares of the home improvement retailer’s stock worth $128,000 after buying an additional 1,016 shares during the period. 76.55% of the stock is owned by hedge funds and other institutional investors.
Lowe’s Companies stock traded down $0.29 during mid-day trading on Monday, hitting $96.88. The stock had a trading volume of 3,045,600 shares, compared to its average volume of 4,529,307. The company has a market capitalization of $77.74 billion, a P/E ratio of 22.07, a P/E/G ratio of 1.14 and a beta of 1.27. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.18 and a current ratio of 1.00. Lowe’s Companies, Inc. has a one year low of $81.16 and a one year high of $117.70.
Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, November 20th. The home improvement retailer reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.06. Lowe’s Companies had a net margin of 5.19% and a return on equity of 72.47%. The company had revenue of $17.42 billion during the quarter, compared to the consensus estimate of $17.36 billion. During the same quarter in the prior year, the firm posted $1.05 EPS. Lowe’s Companies’s quarterly revenue was up 3.8% compared to the same quarter last year. Analysts forecast that Lowe’s Companies, Inc. will post 5.11 EPS for the current year.
In other Lowe’s Companies news, Director Brian C. Rogers purchased 10,000 shares of the stock in a transaction that occurred on Friday, November 23rd. The stock was purchased at an average price of $88.02 per share, with a total value of $880,200.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at $880,200. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.30% of the stock is currently owned by company insiders.
A number of brokerages recently issued reports on LOW. Loop Capital set a $125.00 price target on Lowe’s Companies and gave the company a “buy” rating in a report on Wednesday, December 12th. Gordon Haskett cut Lowe’s Companies from an “accumulate” rating to a “hold” rating in a research report on Thursday, November 8th. Wedbush set a $95.00 price target on Lowe’s Companies and gave the stock a “hold” rating in a research report on Wednesday, November 21st. KeyCorp dropped their price target on Lowe’s Companies from $125.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 21st. Finally, Stifel Nicolaus cut Lowe’s Companies from a “buy” rating to a “hold” rating and dropped their price target for the stock from $125.00 to $92.00 in a research report on Wednesday, November 21st. Ten research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $111.36.
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Lowe’s Companies Profile
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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