Kovitz Investment Group Partners LLC acquired a new position in Lowe’s Companies, Inc. (NYSE:LOW) during the first quarter, Holdings Channel reports. The firm acquired 2,593 shares of the home improvement retailer’s stock, valued at approximately $213,000.

Other institutional investors also recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. raised its position in Lowe’s Companies by 0.4% in the first quarter. SRS Capital Advisors Inc. now owns 1,236 shares of the home improvement retailer’s stock worth $101,000 after buying an additional 5 shares during the period. Washington Trust Bank raised its position in Lowe’s Companies by 27.4% in the first quarter. Washington Trust Bank now owns 1,238 shares of the home improvement retailer’s stock worth $102,000 after buying an additional 266 shares during the period. Harbour Capital Advisors LLC bought a new position in Lowe’s Companies during the first quarter worth $103,000. State of Alaska Department of Revenue bought a new position in Lowe’s Companies during the first quarter worth $109,000. Finally, Hanson McClain Inc. raised its position in Lowe’s Companies by 3.5% in the first quarter. Hanson McClain Inc. now owns 1,337 shares of the home improvement retailer’s stock worth $110,000 after buying an additional 45 shares during the period. 74.70% of the stock is currently owned by institutional investors.

Shares of Lowe’s Companies, Inc. (NYSE LOW) traded up 0.32% during midday trading on Friday, reaching $77.26. The company’s stock had a trading volume of 3,090,052 shares. The firm’s 50 day moving average is $76.69 and its 200 day moving average is $79.41. The firm has a market capitalization of $65.22 billion, a price-to-earnings ratio of 24.23 and a beta of 1.08. Lowe’s Companies, Inc. has a 52 week low of $64.87 and a 52 week high of $86.25.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Wednesday, May 24th. The home improvement retailer reported $1.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by $0.03. The firm had revenue of $16.86 billion during the quarter, compared to the consensus estimate of $16.99 billion. Lowe’s Companies had a net margin of 4.22% and a return on equity of 56.78%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.87 earnings per share. Equities analysts forecast that Lowe’s Companies, Inc. will post $4.62 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 9th. Investors of record on Wednesday, July 26th were issued a $0.41 dividend. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.35. This represents a $1.64 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend was Monday, July 24th. Lowe’s Companies’s payout ratio is currently 51.57%.

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LOW has been the topic of a number of recent research reports. Zacks Investment Research raised Lowe’s Companies from a “hold” rating to a “buy” rating and set a $92.00 price objective on the stock in a research note on Tuesday, April 18th. Goldman Sachs Group, Inc. (The) lowered their price objective on Lowe’s Companies from $97.00 to $96.00 and set a “buy” rating on the stock in a research note on Thursday, May 25th. Stifel Nicolaus lowered their price objective on Lowe’s Companies from $89.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, May 25th. Oppenheimer Holdings, Inc. set a $100.00 price objective on Lowe’s Companies and gave the stock a “buy” rating in a research note on Wednesday, May 24th. Finally, BTIG Research reissued a “buy” rating and set a $95.00 price objective (up previously from $90.00) on shares of Lowe’s Companies in a research note on Friday, May 19th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $85.23.

In related news, insider Richard D. Maltsbarger sold 11,672 shares of the business’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $80.20, for a total value of $936,094.40. Following the completion of the sale, the insider now directly owns 37,716 shares of the company’s stock, valued at $3,024,823.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.11% of the stock is owned by insiders.

Lowe’s Companies Company Profile

Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.

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Institutional Ownership by Quarter for Lowe`s Companies (NYSE:LOW)

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