Notis McConarty Edward Cuts Stake in Lowe’s Companies, Inc. (LOW)
Notis McConarty Edward lowered its position in Lowe’s Companies, Inc. (NYSE:LOW) by 2.3% during the first quarter, Holdings Channel reports. The institutional investor owned 20,800 shares of the home improvement retailer’s stock after selling 500 shares during the period. Notis McConarty Edward’s holdings in Lowe’s Companies were worth $1,710,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in LOW. Valicenti Advisory Services Inc. raised its position in Lowe’s Companies by 5.1% in the first quarter. Valicenti Advisory Services Inc. now owns 53,675 shares of the home improvement retailer’s stock worth $4,413,000 after buying an additional 2,625 shares in the last quarter. Heritage Trust Co acquired a new stake in shares of Lowe’s Companies during the first quarter worth $789,000. Tufton Capital Management acquired a new stake in shares of Lowe’s Companies during the first quarter worth $423,000. Professional Advisory Services Inc. acquired a new stake in shares of Lowe’s Companies during the first quarter worth $226,000. Finally, Access Financial Services Inc. raised its stake in shares of Lowe’s Companies by 4.8% in the first quarter. Access Financial Services Inc. now owns 17,736 shares of the home improvement retailer’s stock worth $1,458,000 after buying an additional 811 shares in the last quarter. 74.70% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Lowe’s Companies, Inc. (NYSE:LOW) traded up 0.32% on Friday, hitting $77.26. The company had a trading volume of 3,090,052 shares. The company has a 50-day moving average of $76.69 and a 200 day moving average of $79.41. Lowe’s Companies, Inc. has a 12 month low of $64.87 and a 12 month high of $86.25. The stock has a market cap of $65.22 billion, a PE ratio of 24.23 and a beta of 1.08.
Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, May 24th. The home improvement retailer reported $1.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.06 by $0.03. The business had revenue of $16.86 billion for the quarter, compared to the consensus estimate of $16.99 billion. Lowe’s Companies had a return on equity of 56.78% and a net margin of 4.22%. The company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.87 earnings per share. Analysts anticipate that Lowe’s Companies, Inc. will post $4.62 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 9th. Investors of record on Wednesday, July 26th were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.12%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.35. The ex-dividend date was Monday, July 24th. Lowe’s Companies’s dividend payout ratio (DPR) is presently 51.57%.
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A number of equities research analysts have weighed in on the company. 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 report on Thursday, May 25th. Zacks Investment Research raised Lowe’s Companies from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a report on Friday. Vetr lowered Lowe’s Companies from a “hold” rating to a “sell” rating and set a $83.11 price objective on the stock. in a report on Monday, May 8th. 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 report on Thursday, May 25th. Finally, Oppenheimer Holdings, Inc. set a $100.00 price objective on Lowe’s Companies and gave the company a “buy” rating in a report on Wednesday, May 24th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the company. Lowe’s Companies has a consensus rating of “Hold” and a consensus target price of $85.23.
In related news, insider Richard D. Maltsbarger sold 11,672 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $80.20, for a total transaction of $936,094.40. Following the completion of the sale, the insider now directly owns 37,716 shares in the company, valued at $3,024,823.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.11% of the company’s stock.
About Lowe’s Companies
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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