Stearns Financial Services Group Sells 879 Shares of Lowe’s Companies, Inc. (LOW)
Stearns Financial Services Group decreased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,449 shares of the home improvement retailer’s stock after selling 879 shares during the quarter. Lowe’s Companies makes up approximately 0.7% of Stearns Financial Services Group’s portfolio, making the stock its 26th biggest position. Stearns Financial Services Group’s holdings in Lowe’s Companies were worth $2,674,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. boosted its holdings in shares of 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 acquiring an additional 5 shares in the last quarter. Harbour Capital Advisors LLC acquired a new position in Lowe’s Companies during the 1st quarter worth about $103,000. Atlantic Trust LLC acquired a new position in Lowe’s Companies during the 2nd quarter worth about $105,000. State of Alaska Department of Revenue lifted 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 worth $111,000 after buying an additional 110 shares during the period. Finally, Balentine LLC acquired a new position in Lowe’s Companies during the 1st quarter worth about $120,000. 72.85% of the stock is currently owned by institutional investors.
In related news, insider Nelson B. Peace sold 3,352 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $80.20, for a total value of $268,830.40. Following the completion of the sale, the insider now directly owns 4,650 shares of the company’s stock, valued at approximately $372,930. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul D. Ramsay sold 2,098 shares of the business’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $78.02, for a total value of $163,685.96. Following the completion of the sale, the insider now directly owns 8,400 shares of the company’s stock, valued at $655,368. The disclosure for this sale can be found here. Insiders sold a total of 13,303 shares of company stock valued at $1,047,406 over the last ninety days. 0.11% of the stock is currently owned by corporate insiders.
LOW has been the topic of several recent research reports. Zacks Investment Research raised Lowe’s Companies from a “sell” rating to a “hold” rating in a report on Monday, September 11th. J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $83.00 target price (down from $89.00) on shares of Lowe’s Companies in a report on Thursday, August 24th. BMO Capital Markets reaffirmed a “hold” rating and set a $82.00 target price on shares of Lowe’s Companies in a report on Thursday, November 2nd. Raymond James Financial raised Lowe’s Companies from a “market perform” rating to an “outperform” rating and set a $87.00 target price on the stock in a report on Monday, November 27th. Finally, Longbow Research reaffirmed a “buy” rating and set a $95.00 target price on shares of Lowe’s Companies in a report on Monday, August 14th. Three 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. Lowe’s Companies currently has an average rating of “Hold” and an average target price of $87.40.
Shares of Lowe’s Companies, Inc. (NYSE:LOW) traded up $0.86 during trading on Friday, reaching $84.23. The company had a trading volume of 4,935,498 shares, compared to its average volume of 6,309,565. Lowe’s Companies, Inc. has a twelve month low of $70.49 and a twelve month high of $86.25. The company has a market cap of $69,280.47, a price-to-earnings ratio of 18.49, a price-to-earnings-growth ratio of 1.34 and a beta of 1.15. The company has a debt-to-equity ratio of 2.71, a current ratio of 1.02 and a quick ratio of 0.12.
Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, November 21st. The home improvement retailer reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.03. Lowe’s Companies had a return on equity of 66.27% and a net margin of 5.16%. The business had revenue of $16.77 billion during the quarter, compared to analyst estimates of $16.59 billion. During the same period in the previous year, the company posted $0.88 EPS. The firm’s revenue was up 6.6% compared to the same quarter last year. sell-side analysts predict that Lowe’s Companies, Inc. will post 4.51 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 7th. Investors of record on Wednesday, January 24th will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Tuesday, January 23rd. Lowe’s Companies’s payout ratio is 39.33%.
About Lowe’s Companies
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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