Lowe’s Companies, Inc. (NYSE:LOW) Shares Bought by Private Asset Management Inc.
Private Asset Management Inc. raised its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 16.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,786 shares of the home improvement retailer’s stock after purchasing an additional 252 shares during the quarter. Private Asset Management Inc.’s holdings in Lowe’s Companies were worth $340,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of LOW. Tortoise Investment Management LLC increased its stake in Lowe’s Companies by 208.0% in the fourth quarter. Tortoise Investment Management LLC now owns 154 shares of the home improvement retailer’s stock valued at $25,000 after purchasing an additional 104 shares during the period. RWM Asset Management LLC purchased a new stake in Lowe’s Companies during the fourth quarter worth about $26,000. DB Wealth Management Group LLC purchased a new stake in Lowe’s Companies during the fourth quarter worth about $31,000. Perennial Advisors LLC purchased a new stake in Lowe’s Companies during the fourth quarter worth about $32,000. Finally, Chiron Capital Management LLC purchased a new stake in Lowe’s Companies during the third quarter worth about $33,000. Institutional investors own 76.11% of the company’s stock.
In related news, Director David H. Batchelder bought 6,250 shares of the firm’s stock in a transaction that occurred on Friday, February 26th. The stock was purchased at an average price of $159.48 per share, for a total transaction of $996,750.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.07% of the company’s stock.
Lowe’s Companies (NYSE:LOW) last announced its earnings results on Tuesday, February 23rd. The home improvement retailer reported $1.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.12. The firm had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.54 billion. Lowe’s Companies had a net margin of 6.29% and a return on equity of 211.33%. During the same quarter in the prior year, the firm posted $0.94 EPS. Equities analysts forecast that Lowe’s Companies, Inc. will post 8.7 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 5th. Investors of record on Wednesday, April 21st will be given a $0.60 dividend. The ex-dividend date is Tuesday, April 20th. This represents a $2.40 dividend on an annualized basis and a yield of 1.24%. Lowe’s Companies’s dividend payout ratio is presently 41.96%.
A number of equities analysts have issued reports on LOW shares. Gordon Haskett upgraded shares of Lowe’s Companies from an “accumulate” rating to a “buy” rating and set a $202.00 target price for the company in a research report on Wednesday, March 3rd. Royal Bank of Canada lifted their target price on shares of Lowe’s Companies from $203.00 to $206.00 in a research report on Thursday, February 25th. Zelman & Associates raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Friday, February 12th. Citigroup initiated coverage on shares of Lowe’s Companies in a research report on Monday, March 15th. They issued a “buy” rating and a $195.00 price objective for the company. Finally, Telsey Advisory Group boosted their price objective on shares of Lowe’s Companies from $190.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, December 10th. Four investment analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $179.12.
Lowe’s Companies Profile
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as appliances, dÃ©cor, paint, hardware, millwork, lawn and garden, lighting, lumber and building materials, flooring, kitchens and bath, rough plumbing and electrical, seasonal and outdoor living, and tools.
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