Shell Asset Management Co. Purchases 75,758 Shares of Lowe’s Companies, Inc. (LOW)
Shell Asset Management Co. lifted its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 93.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 157,214 shares of the home improvement retailer’s stock after purchasing an additional 75,758 shares during the period. Shell Asset Management Co.’s holdings in Lowe’s Companies were worth $8,320,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of LOW. SRS Capital Advisors Inc. increased its stake in shares of 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 last quarter. Harbour Capital Advisors LLC bought a new stake in shares of Lowe’s Companies in the first quarter worth $103,000. Atlantic Trust LLC bought a new stake in shares of Lowe’s Companies in the second quarter worth $105,000. State of Alaska Department of Revenue increased its stake in shares of Lowe’s Companies by 8.3% in the second quarter. State of Alaska Department of Revenue now owns 1,440 shares of the home improvement retailer’s stock worth $111,000 after buying an additional 110 shares during the last quarter. Finally, Balentine LLC bought a new stake in shares of Lowe’s Companies in the first quarter worth $120,000. 72.85% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on LOW. Deutsche Bank restated a “buy” rating and issued a $90.00 price target (up previously from $85.00) on shares of Lowe’s Companies in a research note on Friday, October 6th. Stifel Nicolaus lifted their price target on shares of Lowe’s Companies from $87.00 to $93.00 and gave the stock a “buy” rating in a research note on Tuesday, November 21st. Gordon Haskett began coverage on shares of Lowe’s Companies in a research note on Tuesday, October 3rd. They issued an “accumulate” rating and a $88.00 price target for the company. UBS lifted their price target on shares of Lowe’s Companies from $89.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, November 22nd. Finally, Raymond James Financial upgraded shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and set a $87.00 price target for the company in a research note on Monday. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $87.40.
In other news, insider Paul D. Ramsay sold 2,098 shares of the business’s stock in a transaction on Tuesday, September 19th. The shares were 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 owns 8,400 shares of the company’s stock, valued at $655,368. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Matthew V. Hollifield sold 7,853 shares of the business’s stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $78.30, for a total transaction of $614,889.90. Following the transaction, the senior vice president now directly owns 30,750 shares of the company’s stock, valued at approximately $2,407,725. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,303 shares of company stock valued at $1,047,406. Corporate insiders own 0.11% of the company’s stock.
Shares of Lowe’s Companies, Inc. (LOW) traded up $0.90 on Thursday, hitting $84.20. 1,376,931 shares of the stock traded hands, compared to its average volume of 5,867,379. Lowe’s Companies, Inc. has a 52 week low of $69.92 and a 52 week high of $86.25. The firm has a market capitalization of $67,876.08, a P/E ratio of 18.11, a price-to-earnings-growth ratio of 1.31 and a beta of 1.13. The company has a current ratio of 1.02, a quick ratio of 0.12 and a debt-to-equity ratio of 2.71.
Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Tuesday, November 21st. The home improvement retailer reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.03. Lowe’s Companies had a net margin of 5.16% and a return on equity of 66.27%. The company had revenue of $16.77 billion during the quarter, compared to the consensus estimate of $16.59 billion. During the same quarter in the previous year, the company posted $0.88 earnings per share. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. equities analysts expect that Lowe’s Companies, Inc. will post 4.51 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 7th. Stockholders of record on Wednesday, January 24th will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Tuesday, January 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is 39.33%.
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Lowe’s Companies Profile
Lowe’s Companies, Inc (Lowe’s) is a 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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