Wedbush Securities Inc. Has $3.70 Million Holdings in Lowe’s Companies, Inc. $LOW

Wedbush Securities Inc. increased its position in Lowe’s Companies, Inc. (NYSE:LOW) by 16.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,730 shares of the home improvement retailer’s stock after acquiring an additional 2,038 shares during the quarter. Wedbush Securities Inc.’s holdings in Lowe’s Companies were worth $3,702,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Lowe’s Companies during the 2nd quarter worth about $1,773,624,000. Tableaux LLC acquired a new position in shares of Lowe’s Companies during the second quarter worth approximately $282,884,000. Laurel Wealth Advisors LLC boosted its position in shares of Lowe’s Companies by 22,167.5% in the second quarter. Laurel Wealth Advisors LLC now owns 1,032,319 shares of the home improvement retailer’s stock valued at $229,041,000 after acquiring an additional 1,027,683 shares during the period. Worldquant Millennium Advisors LLC grew its stake in shares of Lowe’s Companies by 243.2% in the second quarter. Worldquant Millennium Advisors LLC now owns 1,116,945 shares of the home improvement retailer’s stock worth $247,817,000 after acquiring an additional 791,526 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in Lowe’s Companies by 101.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,244,941 shares of the home improvement retailer’s stock worth $312,866,000 after acquiring an additional 626,829 shares during the period. 74.06% of the stock is currently owned by institutional investors.

Lowe’s Companies Trading Up 0.8%

Shares of LOW opened at $286.97 on Thursday. The stock has a market cap of $160.97 billion, a PE ratio of 23.80, a PEG ratio of 4.45 and a beta of 0.97. Lowe’s Companies, Inc. has a 1 year low of $206.38 and a 1 year high of $287.34. The stock has a 50 day simple moving average of $259.48 and a 200-day simple moving average of $250.94.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.09. The firm had revenue of $20.81 billion during the quarter, compared to analyst estimates of $20.88 billion. Lowe’s Companies had a negative return on equity of 55.86% and a net margin of 8.05%.The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.89 earnings per share. On average, sell-side analysts forecast that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 4th. Shareholders of record on Wednesday, January 21st were paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Wednesday, January 21st. Lowe’s Companies’s dividend payout ratio is currently 39.80%.

Analyst Ratings Changes

A number of brokerages have weighed in on LOW. UBS Group reduced their price target on shares of Lowe’s Companies from $325.00 to $316.00 and set a “buy” rating for the company in a report on Thursday, November 20th. Sanford C. Bernstein increased their target price on shares of Lowe’s Companies from $282.00 to $284.00 and gave the company an “outperform” rating in a research note on Thursday, November 20th. Argus lowered their price target on Lowe’s Companies from $290.00 to $286.00 and set a “buy” rating on the stock in a research note on Tuesday, December 2nd. HSBC reduced their price objective on Lowe’s Companies from $285.00 to $263.00 and set a “hold” rating for the company in a research report on Friday, November 21st. Finally, Oppenheimer decreased their price objective on Lowe’s Companies from $320.00 to $315.00 and set an “outperform” rating on the stock in a report on Friday, December 5th. Nineteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $284.77.

Insider Buying and Selling at Lowe’s Companies

In other news, CEO Marvin R. Ellison sold 18,000 shares of Lowe’s Companies stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $261.17, for a total value of $4,701,060.00. Following the completion of the transaction, the chief executive officer owned 231,043 shares in the company, valued at approximately $60,341,500.31. The trade was a 7.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.27% of the company’s stock.

Lowe’s Companies Company Profile

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.