Lowe’s Companies, Inc. (LOW) Shares Bought by State of Alaska Department of Revenue
State of Alaska Department of Revenue boosted its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 4.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 129,741 shares of the home improvement retailer’s stock after acquiring an additional 5,627 shares during the period. State of Alaska Department of Revenue’s holdings in Lowe’s Companies were worth $11,980,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in LOW. Capital International Investors acquired a new position in Lowe’s Companies during the 3rd quarter worth $746,818,000. FMR LLC lifted its position in Lowe’s Companies by 8.0% during the 3rd quarter. FMR LLC now owns 21,879,740 shares of the home improvement retailer’s stock worth $2,512,233,000 after acquiring an additional 1,616,536 shares during the last quarter. Winslow Capital Management LLC lifted its position in Lowe’s Companies by 28.4% during the 3rd quarter. Winslow Capital Management LLC now owns 4,081,562 shares of the home improvement retailer’s stock worth $468,645,000 after acquiring an additional 901,607 shares during the last quarter. AQR Capital Management LLC lifted its position in Lowe’s Companies by 50.0% during the 3rd quarter. AQR Capital Management LLC now owns 2,641,814 shares of the home improvement retailer’s stock worth $303,333,000 after acquiring an additional 880,253 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in Lowe’s Companies during the 3rd quarter worth $90,375,000. 74.33% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Brian C. Rogers acquired 10,000 shares of the firm’s stock in a transaction dated Friday, November 23rd. The stock was bought at an average price of $88.02 per share, with a total value of $880,200.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $880,200. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.30% of the company’s stock.
Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Tuesday, November 20th. The home improvement retailer reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.06. Lowe’s Companies had a net margin of 5.19% and a return on equity of 72.47%. The company had revenue of $17.42 billion during the quarter, compared to the consensus estimate of $17.36 billion. During the same quarter last year, the firm posted $1.05 EPS. The company’s quarterly revenue was up 3.8% on a year-over-year basis. On average, research analysts forecast that Lowe’s Companies, Inc. will post 5.11 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 6th. Stockholders of record on Wednesday, January 23rd will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Tuesday, January 22nd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 43.74%.
A number of research analysts have weighed in on the stock. ValuEngine raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Monday. Barclays lowered shares of Lowe’s Companies from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $120.00 to $105.00 in a research report on Wednesday. Loop Capital set a $125.00 target price on shares of Lowe’s Companies and gave the stock a “buy” rating in a research report on Wednesday, November 21st. Wedbush set a $115.00 price objective on shares of Lowe’s Companies and gave the company a “neutral” rating in a research report on Monday, October 15th. Finally, Credit Suisse Group set a $99.00 price objective on shares of Lowe’s Companies and gave the company a “hold” rating in a research report on Tuesday, December 11th. Nine analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $111.65.
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About Lowe’s Companies
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. It offers a line of products for maintenance, repair, remodeling, and decorating. The company provides home improvement products in various categories, such as lumber and building materials, tools and hardware, appliances, fashion fixtures, rough plumbing and electrical, seasonal and outdoor living, lawn and garden, paint, millwork, flooring, and kitchens, as well as outdoor power equipment.
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