Bank of Montreal Can Boosts Position in Lowe's Companies, Inc. (LOW)
Bank of Montreal Can boosted its stake in shares of Lowe's Companies, Inc. (NYSE:LOW) by 28.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,759,311 shares of the home improvement retailer’s stock after purchasing an additional 1,053,158 shares during the period. Bank of Montreal Can’s holdings in Lowe's Companies were worth $442,330,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Atlantic Trust LLC bought a new position in Lowe's Companies during the second quarter worth about $105,000. State of Alaska Department of Revenue boosted its position in Lowe's Companies by 8.3% during 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 purchasing an additional 110 shares during the period. Stonehearth Capital Management LLC bought a new position in Lowe's Companies during the fourth quarter worth about $112,000. Motco boosted its position in Lowe's Companies by 33.4% during the second quarter. Motco now owns 1,725 shares of the home improvement retailer’s stock worth $134,000 after purchasing an additional 432 shares during the period. Finally, Horan Capital Advisors LLC. bought a new position in Lowe's Companies during the third quarter worth about $134,000. Institutional investors own 73.13% of the company’s stock.
In other Lowe's Companies news, insider Nelson B. Peace sold 3,352 shares of the stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $80.20, for a total transaction of $268,830.40. Following the transaction, the insider now directly owns 4,650 shares in the company, valued at $372,930. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.11% of the stock is owned by company insiders.
Lowe's Companies (NYSE:LOW) last issued its quarterly 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 net margin of 5.16% and a return on equity of 66.27%. The business had revenue of $16.77 billion for the quarter, compared to analysts’ expectations of $16.59 billion. During the same period last year, the business earned $0.88 earnings per share. The business’s quarterly revenue was up 6.6% on a year-over-year basis. equities research analysts predict that Lowe's Companies, Inc. will post 4.52 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 7th. Shareholders of record on Wednesday, January 24th will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Tuesday, January 23rd. Lowe's Companies’s payout ratio is currently 39.42%.
LOW has been the subject of a number of research reports. Royal Bank of Canada reiterated a “buy” rating and set a $81.00 target price on shares of Lowe's Companies in a research report on Monday, September 25th. Jefferies Group reiterated a “hold” rating and set a $75.00 target price on shares of Lowe's Companies in a research report on Thursday, September 28th. Piper Jaffray Companies reiterated a “hold” rating and set a $80.00 target price on shares of Lowe's Companies in a research report on Friday, September 29th. Gordon Haskett initiated coverage on shares of Lowe's Companies in a research report on Tuesday, October 3rd. They set an “accumulate” rating and a $88.00 target price for the company. Finally, Deutsche Bank reiterated a “buy” rating and set a $90.00 target price (up previously from $85.00) on shares of Lowe's Companies in a research report on Friday, October 6th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty have issued a buy rating to the stock. Lowe's Companies presently has an average rating of “Buy” and an average price target of $90.28.
Lowe's Companies Company 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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