Independent Investors Inc. Holds Stake in Lowe’s Companies, Inc. (LOW)
Independent Investors Inc. continued to hold its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 13,800 shares of the home improvement retailer’s stock at the end of the second quarter. Independent Investors Inc.’s holdings in Lowe’s Companies were worth $1,069,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LOW. SRS Capital Advisors Inc. grew its holdings in Lowe’s Companies by 0.4% during the 1st quarter. SRS Capital Advisors Inc. now owns 1,236 shares of the home improvement retailer’s stock valued at $101,000 after buying an additional 5 shares in the last quarter. Harbour Capital Advisors LLC purchased a new position in Lowe’s Companies during the 1st quarter valued at approximately $103,000. Hanson McClain Inc. grew its holdings in Lowe’s Companies by 3.5% during the 1st quarter. Hanson McClain Inc. now owns 1,337 shares of the home improvement retailer’s stock valued at $110,000 after buying an additional 45 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in Lowe’s Companies by 8.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 1,440 shares of the home improvement retailer’s stock valued at $111,000 after buying an additional 110 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in Lowe’s Companies during the 1st quarter valued at approximately $119,000. Institutional investors and hedge funds own 74.20% of the company’s stock.
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In other news, insider Paul D. Ramsay sold 2,098 shares of the firm’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $78.02, for a total transaction of $163,685.96. Following the completion of the transaction, the insider now directly owns 8,400 shares in the company, valued at $655,368. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.11% of the company’s stock.
A number of equities analysts have recently commented on LOW shares. BMO Capital Markets reiterated a “buy” rating and issued a $89.00 target price on shares of Lowe’s Companies in a report on Thursday, July 20th. Zacks Investment Research upgraded Lowe’s Companies from a “sell” rating to a “hold” rating in a report on Monday, September 11th. J P Morgan Chase & Co reiterated a “neutral” rating and issued a $83.00 target price (down previously from $89.00) on shares of Lowe’s Companies in a report on Thursday, August 24th. Longbow Research reiterated a “buy” rating and issued a $95.00 target price on shares of Lowe’s Companies in a report on Monday, August 14th. Finally, Morgan Stanley dropped their target price on Lowe’s Companies from $88.00 to $81.00 and set an “overweight” rating for the company in a report on Thursday, August 24th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Lowe’s Companies presently has a consensus rating of “Hold” and an average target price of $85.00.
Shares of Lowe’s Companies, Inc. (NYSE:LOW) opened at 78.23 on Friday. The company has a market capitalization of $65.15 billion, a price-to-earnings ratio of 22.21 and a beta of 1.07. Lowe’s Companies, Inc. has a 12 month low of $64.87 and a 12 month high of $86.25. The firm’s 50-day moving average price is $76.25 and its 200-day moving average price is $79.59.
Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, August 23rd. The home improvement retailer reported $1.57 EPS for the quarter, missing the consensus estimate of $1.62 by ($0.05). Lowe’s Companies had a return on equity of 62.02% and a net margin of 4.51%. The firm had revenue of $19.50 billion for the quarter, compared to analysts’ expectations of $19.58 billion. During the same quarter in the prior year, the business earned $1.37 earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis. Equities research analysts expect that Lowe’s Companies, Inc. will post $4.50 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 8th. Stockholders of record on Wednesday, October 25th will be given a dividend of $0.41 per share. The ex-dividend date is Tuesday, October 24th. This represents a $1.64 annualized dividend and a dividend yield of 2.10%. Lowe’s Companies’s dividend payout ratio is currently 46.20%.
Lowe’s Companies Profile
Lowe’s Companies, Inc (Lowe’s) is a FORTUNE home improvement company. The Company operates approximately 2,370 home improvement and hardware stores. The Company offers a range of products for maintenance, repair, remodeling and decorating. The Company offers home improvement products in categories, including Lumber and Building Materials; Tools and Hardware; Appliances; Fashion Fixtures; Rough Plumbing and Electrical; Lawn and Garden; Seasonal and Outdoor Living; Paint; Flooring; Millwork, and Kitchens.
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